JULY 2021

The EBS Report

Spot | Forwards | NDFs | Metals

Welcome to The EBS Report – covering product, technology, and key trends in one of the world's largest and most liquid FX markets.

  • 28 Jul 2021
  • By CME Group

FX spot and FX futures: Act

Now trade on one screen, access three liquidity pools

Powered by EBS and CME FX – brought to you by TORA

TORA brings together the deep and diverse OTC liquidity from EBS into one screen and combines it with CME FX futures – providing participants with unparalleled access to over $80B a day on average in FX spot or futures.

Get connected: Discover complementary liquidity driven by the most diverse ecosystem in FX

  • EBS Market – renowned for 25 years as the primary central limit order book for institutional traders and cash FX
  • EBS Direct – utilized by the sell- and buy-side for the combined bilateral liquidity generated by over 60 liquidity providers
  • CME FX – connecting sell-side, buy-side, corporate, and retail futures’ flow into an active central limit order book, with 1,251* large open interest holders currently holding positions

Get connected: Discover functionality built to execute across all three markets

  • Pairs trading – enables traders to simultaneously execute across the listed and cash OTC market and set their own pre-defined market criteria – or simply trade in one pool
  • Order types – choose from a range and variety of algo order types, whether it's broker algos, TORA's in-house algos, or your own – or simply use direct market access point and click
  • Broker network – there are 200+ futures brokers already integrated into TORA, ready to provide market access to CME FX

Recognize the complementary value of spot and futures: Explore the FX Market Profile tool

Get connected: Discover a customizable front end and access it for free

Learn more about TORA

TORA is a leading provider of advanced investment management technologies for global asset managers, hedge funds, proprietary trading firms, and sell-side trading desks. We are a cloud-based front-to-back office technology provider delivering a complete solution for trading, portfolio management, and risk management. TORA’s award-winning suite of products include order and execution management (OEMS), portfolio management (PMS), analytics and risk control tools, Transaction Cost Analysis (TCA), and proprietary algorithms. Founded in 2004, TORA’s OEMS launched in 2007.

For more information, or to find out how to get connected, please contact your account manager or tora@cmegroup.com.

*As of July 6 2021