EBS, the provider of definitive spot FX market data, has announced two major enhancements for traders using the premium EBS Live product.
"Daily Market High/Low" allows customers to capture not only the highest/lowest rates traded (Absolute High/Low) for the day, but also the highest and lowest rates where actual "market amounts" have been executed.
"Recent Market High/Low" has also been added to EBS Live. This gives the highest and lowest rates dealt within an interval - currently 10 seconds - which conforms to minimum counterparty and volume requirements.
This can be used to assist order management by indicating the level at which a market amount has been transacted prior to a turn (rise or fall) in the market. The data is continuously calculated throughout the day and published at the time of verification.
Both enhancements have been designed to support professional FX traders in their trading decisions on behalf of customers.
Jim O'Hagan, EBS Market Data Product Manager, said: "We have made significant enhancements to the best market data service available to professional FX traders. EBS is responding to customer needs for additional information to better manage their customer orders."
Launched in February 2004, EBS Live delivers 500-millisecond time slices of the best rates actively quoted on EBS Spot.
Its direct, real-time feed delivers the transactional FX data required for accurate and timely pricing and decision-making, at consistent speeds of less than 200 milliseconds direct from EBS to the customer's market data distribution platform, significantly reducing the risk associated with latency.
A growing number of EBS Live customers are using the service to give them a competitive advantage by minimising data latency. The feed can also be used to fuel their e-commerce and price engines and to help them manage their risk and position management in FX. EBS Live is also ideal to enable model or programme trading through an API (automated programme interface) and is being actively used by both bank and non-bank professional FX traders.
EBS Live is available to both the interbank and the professional trading community (including fund managers, hedge funds and commodity trading advisors) and provides the definitive view of the market – giving traders the advantage they need, while significantly reducing exposure and risk.
EBS Live is designed chiefly for banks and professional FX trading organisations that manage competitive e-commerce products or remote sales desks and arbitrage FX traders demanding timely changes to the market.
Global market prices distribution relies on EBS Spot for FX spot data on all major currency pairs. As EBS market data is fed from the EBS Spot dealing platform, it is therefore a true reflection of the FX market at a given time, delivering a superior trading advantage to customers.