Jeff Ward, EBS Direct
"RBC brings tremendous value to the platform, increasing footprint in major and emerging market currencies and supporting EBS growth."
London and New York - EBS, ICAP's electronic FX business, has announced that its growth in Commonwealth currencies will be strengthened with the addition of Royal Bank of Canada (RBC) as the first Canadian liquidity provider (LP) on the EBS Direct platform. This brings the total number of LPs on EBS Direct to 19.
Commonwealth currencies are now amongst the most actively traded currency pairs on EBS Direct. The number of active Liquidity Consumers (LC) trading Commonwealth currencies has more than doubled year-on-year. The addition of RBC as an LP will bolster this growth and give customers access to liquidity in both major and emerging market currencies.
Mark Burroughs, director at RBC, commented: "Working with EBS Direct will facilitate enhanced liquidity for our clients. The EBS Direct global distribution network allows us to support a wide client base with customised liquidity."
Jeff Ward, global head of EBS Direct, said: "As the first Canadian Bank to become an LP, RBC brings tremendous value to the platform, increasing footprint in major and emerging market currencies and supporting EBS growth. We are excited to begin this partnership with them and to leverage their valuable liquidity to enhance and diversify pricing provider options for our customers."