Electronic Brokering Services
a.k.a. EBS
A major electronic platform where banks trade currencies with each other, especially EUR/USD and USD/JPY.
In plain English
A major electronic platform where banks trade currencies with each other, especially EUR/USD and USD/JPY.
EBS was set up by a group of big banks in the early 1990s to trade currencies electronically among themselves instead of through voice brokers. It became a key venue for the interbank market, and its prices are a reference for euro, yen and Swiss franc trading.
It has changed owners over the years and is now part of CME Group. Retail traders do not access it directly, but the prices you see are shaped by venues like it.
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