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Morgan Stanley Joins EBS Platform As Prime Bank

EBS prime extends the ability to trade in the core spot FX market to other bank and non-bank professional traders

ICAP, the global interdealer broker and operator of the spot FX trading platform EBS, has announced that Morgan Stanley has joined as a new EBS Prime Bank. EBS prime extends the ability to trade in the core spot FX market to other bank and non-bank professional traders, including hedge funds, through a prime brokerage relationship.

Reportedly, an EBS prime bank offers its customers the ability to view and trade on the prices available to the global FX banks and therefore access to prices and a depth of liquidity. ICAP has said that this in turn increases the customers’ revenue opportunities, improving their competitive position in the market.

David Faulkner, global prime manager, ICAP electronic broking, said: “We are extremely pleased to welcome Morgan Stanley as a new EBS Prime Bank. We are seeing the return of strong demand for FX prime brokerage services in all sectors and EBS is continuing to see more entrants, further increasingly the diversity of counterparties on the platform.”

Martine Bond, global head of FX prime brokerage at Morgan Stanley, said: “Morgan Stanley is pleased to be joining the EBS platform as a prime broker. This is a significant strategic step in building a leading FX prime brokerage service.”