BNP Paribas has joined as a new prime bank on EBS, the FX trading platform of ICAP, an interdealer broker and operator. EBS 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.
EBS prime bank offers customers the ability to view and trade on the prices available to the world’s leading FX banks, giving access to tighter prices and depth of liquidity. This is expected to help customers increase their trading activity and facilitates improved revenue opportunities.
David Faulkner, global prime manager at ICAP electronic broking, said: “We welcome BNP Paribas as a new EBS Prime Bank. The recent increase in EBS Prime Banks further underscores the value added by the EBS Prime Bank model to the market and our customers.”
Nathaniel Litwak, head of marketing for FX prime brokerage at BNP Paribas, said: “Joining EBS as a Prime Bank is an important part of BNP Paribas’ strategy to build out our prime brokerage offering. Our ambition is to become a top 5 FX house globally and our prime brokerage business is a vital part of realizing that ambition.
“Our current strength and potential for future growth in FX prime brokerage stems from factors including our strong balance sheet and a credit rating that makes us a particularly desirable counterparty.”
