Page History

Revision History

Key Events and Dates

EBS Direct 2.0 - Taker API Key Events and Dates outline the high level functionality in each release/drop.

Below is a summary of the New Order Single (35=D) and Market Data Request (35=V) messages and supported tags/functionality, including blue highlights to indicate when functionality is first introduced.

New Order Single (35=D)

Below is a summary of the functionality supported on existing EBS Direct 1.0 platform and the EBS Direct 2.0 platform:

EBS Direct 2.0

Pass-Through

EBS Direct 2.0

ECN Drop 1

EBS Direct 2.0

ECN Drop 2

EBS Direct 2.0

ECN Drop 3

DeliverToCompId

128

Target specific LP
(Pass-Through)

Optional

Mandatory

Optional

Optional

Optional

Target comma separated list of LPs

TimeInForce

59

IOC

FOK

Day

GTC

Asset Types

167

Spot

Metals

NDFs

Forwards

Swaps

Market Segment

1300

Sweepable

Single Ticket

EBS Direct 2.0

Pass-Through

EBS Direct 2.0

ECN Drop 1

EBS Direct 2.0

ECN Drop 2

EBS Direct 2.0

ECN Drop 3

DeliverToCompId

128

Target specific LP (Pass-Through)

Optional

Mandatory

Optional

Optional

Optional

Target comma separated list of LPs

MDUpdateType

265

Snapshot

Incremental

Book Type

266

Aggregated

Non-aggregated

MDEntrySize

271

Cumulative notional depth for Sweepable

Ceiling notional depth for Single Ticket

Ability to specify a specific, volume to receive Single Ticket market data

12001

MarketDepth

264

Full Book

Top of Book

x Number of price levels

Throttling of updates

12003

Asset Types

167

Spot

Metals

NDFs

Market Segment

1300

Sweepable

Single Ticket

Supporting Documentation

Some EBS documentation is available from the EBS Support Portal and FTC documentation is available from the FTC website.  See also:

• EBS Direct Guide to Pair Parameters
• EBS Direct Taker FIX Data Dictionary (XML)
• FTC FIX Specification 4.4
• FTC FIX Specification 5.0 SP2

Session Requirements

There are two types of FIX session:

• M - Market Data (ESP)
• O - Orders (ESP)

Market Data sessions are used to subscribe to and receive Market Data. Orders related to ESP prices are submitted down a dedicated Trading session. Currently a given session can only be associated with a single Floor Code.

Products Supported

Instruments Supported

EBS supports FX pricing and trading in the following products:

• Spot
• Precious Metals
• NDFs

Order TIFs

The following TIFs are supported:

• Day
• Good Till Cancel (GTC)
• Immediate or Cancel (IOC)
• Fill or Kill (FOK)

Order Types

Only Limit orders are supported.

Tenor and Settlement Dates

Anchor
Tenor and Settlement Dates Tenor and Settlement Dates

The following standard tenor codes are supported:

Currency

On Market Data (ESP) and Trading flow Currency is always base.

Pricing Models

EBS supports both the ability to stream prices continuously with Market Data (ESP), there are a range of market views including:

• Both aggregated and non-aggregated pricing.
• Sweepable and Single Ticket (aka Full Amount) pricing.

These are described in the Market Data (ESP) section.

STP

EBS offer a real-time post trade solution for deals executed on EBS Direct via a Trade Capture Report (TCR) FIX session. Other options are available. 

System Schedule

EBS FIX Servers are available 6am on Sunday until 5pm on a Friday. Value date rolls for most pairs at 5pm New York Monday to Friday. Both system close and value date rolls observe New York DST (Daylight Savings Time).
The ideal configuration is to connect on a weekly basis using standard tenor codes. This will ensure you receive pricing as soon as possible after value date rolls (Market Data subscriptions automatically rollover with no need to re-subscribe).