OCTOBER 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.

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Products

See how EBS currency pairs compare: Top rankings by product

Source: EBS, all data as of September 30, 2021

Spot

Q3 RANKING 

CURRENCY PAIR 

JULY

AUGUST

SEPTEMBER

 

 

High

Low

Range

High

Low

Range

High

Low

Range

1

EUR/USD

1.19090

1.17520

0.0157

1.18990

1.16640

0.0235

1.19090

1.15630

0.0346

2

USD/CNH

6.5290

6.4508

0.078

6.5100

6.4470

0.063

6.4878

6.4247

0.063

3

USD/JPY

111.660

109.070

2.59

110.800

108.725

2.08

112.080

109.110

2.97

4

USD/CHF

0.92735

0.90400

0.0233

0.92420

0.90185

0.0223

0.93685

0.91160

0.0252

5

USD/RUB

75.3250

72.6600

2.665

74.6500

72.7000

1.950

73.6200

72.2300

1.390

6

EUR/JPY

132.405

128.610

3.79

130.400

127.940

2.46

130.740

127.930

2.81

7

EUR/CHF

1.09860

1.07420

0.0244

1.08400

1.06965

0.0144

1.09375

1.07850

0.0152

8

USD/HKD

7.7850

7.7645

0.021

7.7945

7.7721

0.022

7.7893

7.7702

0.019

9

AUD/USD

0.75990

0.72895

0.0310

0.74270

0.71065

0.0321

0.74750

0.71710

0.0304

10

AUD/JPY

84.18

79.85

4.3

81.53

77.94

3.6

81.98

78.87

3.1

11 from 12

GBP/USD

1.39780

1.35730

0.0405

1.39530

1.36060

0.0347

1.39120

1.34135

0.0498

12 from 11

USD/SGD

1.3689

1.3424

0.03

1.3651

1.3430

0.02

1.3626

1.3382

0.02

13 from 14

GBP/JPY

154.08

148.53

5.6

153.30

149.21

4.1

152.85

148.96

3.9

14 from 13

USD/CAD

1.27970

1.23040

0.0493

1.29430

1.24570

0.0486

1.28940

1.24960

0.0398

15 New

NZD/JPY

78.68

75.36

3.3

77.90

74.65

3.3

78.60

76.43

2.2

Metals

Q3 RANKING 

CURRENCY PAIR 

JULY

AUGUST

SEPTEMBER

 

 

High

Low

Range

High

Low

Range

High

Low

Range

1

SAU/USD

1834.30

1766.40

67.9

1831.70

1667.60

164.1

1834.00

1721.80

112.2

2

XAG/USD

26.7600

24.5000

2.260

25.9625

22.0675

3.895

24.8325

21.4450

3.387

3

SAG/USD

26.7475

24.5075

2.240

26.0025

22.6425

3.360

24.8600

21.4575

3.403

4

LPT/USD

1147.0

1040.0

107.0

1059.0

964.5

95

1028.5

907.0

121.5

ON-SEF NDFs

Q3 RANKING 

CURRENCY PAIR 

JULY

AUGUST

SEPTEMBER

 

 

High

Low

Range

High

Low

Range

High

Low

Range

1

KRW 1M

1159.5

1130.0

30

1184.2

1141.5

43

1191.9

1153.0

39

2

INR 1M

75.285

74.455

0.83

74.750

73.13

1.63

74.610

73.150

1.46

3

TWD 1M

28.110

27.840

0.27

28.050

27.570

0.48

27.830

27.535

0.29

4

IDR 1M

14677

14450

227

14570

14248

322

14395

14240

155

5

PHP 1M

51.35

49.05

2.3

50.93

49.68

1.3

51.52

49.74

1.8

OFF-SEF NDFs

Q3 RANKING 

CURRENCY PAIR 

JULY

AUGUST

SEPTEMBER

 

 

High

Low

Range

High

Low

Range

High

Low

Range

1

KRW 1M

1159.0

1128.8

30

1184.6

1141.3

43

1193.0

1153.9

39

2

INR 1M

75.310

74.460

0.85

74.730

73.14

1.60

74.630

73.130

1.50

3

TWD 1M

28.100

27.830

0.27

28.080

27.570

0.51

27.840

27.525

0.32

4

IDR 1M

14670

14455

215

14572

14255

317

14380

14200

180

5

PHP 1M

51.30

48.99

2.3

50.98

49.68

1.3

51.50

49.73

1.8

Make more informed execution decisions: enhanced FX Market Profile

The FX Market Profile empowers informed trading decisions – showing key insights into OTC, futures, and swaps markets across 18 currency pairs.  

View the tool


Technology

EBS Direct: simplifying access to bespoke private liquidity pools

EBS Direct clients can now access private liquidity pools, and benefit from our enhanced flexible technology to build bespoke curated liquidity pools, at minimal infrastructure costs.

Build:  One to one bespoke liquidity pools

We’re simplifying how LPs connect to EBS Direct, so you can create custom pricing from your preferred liquidity providers yet rationalize your connections to multiple counterparties.

EBS Direct provides LPs with the ability to differentiate and tailor the pricing they show to a specific client and clients can request bespoke pricing they receive from their LPs on a single API session – through our new multiplexing software – i.e., private liquidity pools (PLPs).

Customize: Each private pool can be customized for liquidity providers and consumers for every pair (FX or precious metals), delivering tighter and competitive pricing for key counterparties.

Mitigate: Risk factors, such as skew information leakage and market impact, are diminished as PLPs support internalization and better risk management.

Know: Liquidity consumers benefit from exclusive and premium pricing, tailored to them, which is more reliable and independent of external factors.

Execution: faster and more robust

With our next-gen platform, clients can access private liquidity pools with minimal infrastructure or latency overheads.

Customers trading on EBS Direct can now benefit from enhanced processing times – below 50 microseconds – and faster market data on the new platform, which is the single greatest upgrade to EBS Direct since its inception. Our new technology is delivering:

  • Improved price discovery
  • Greater certainty of execution
  • Improved fill ratios for market participants
  • Greater customization of liquidity

A more deterministic and bespoke trading environment creates operational, execution, and total cost efficiencies ‒ improving overall trading performance for both liquidity consumers and liquidity providers.

ISV partners ready to assist you go live with EBS Direct

EBS is proud to work with leading third-party vendors to provide customers with connectivity and workflow solutions across the trading lifecycle.

View our vendor partners

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