EBS Regulatory Documents

Download all of the regulatory content you need to
navigate through the trading lifecycle, from pre- to
post-trade. Access code of conduct documentation,
pricing and fee schedules, and rulebooks to support
your trading activity on EBS platforms.

Information for existing customers:

Clients can find further information specific to their trading activity by logging in to our secure zone.

Documentation for all EBS platforms

The following documents are relevant to all (or several) EBS platforms:

Legal and Regulatory Structure Schedule

Get a general legal overview of all EBS platforms.


EBS Liquidity Provider Eligibility Criteria

Eligibility requirements for Liquidity Providers on certain EBS platforms.


EBS Market – Participant Eligibility Criteria

Eligibility requirements for EBS Market.


Rules of Conduct & Prohibited Practices

Find general conduct rules and prohibited practices for the EBS Dealing Service.


The following documents apply to the Dealing Service offered by EBS Service Company Limited, the EBS MTF and the NEX SEF:

Reward Policy

The reward policy sets out the principles that govern the remuneration of EBS employees.


Equal Opportunities Policy

View our equal opportunity policy.


The following documents apply to the EBS MTF and NEX SEF:

MTF Venue Market Regulations Policy 

View our approach to monitoring customer adherence to rules. 


Member Algo Testing Fair Usage Policy

View the requirements for conformance tests. 


Venue Kill Functionality Policy

Access MiFID II-compliant rules for cancellation of unexecuted orders.


Data Protection Policy

View the basis on which we process personal data.


Conflicts of Interest Management Policy

Read our MiFID II-compliant measures set aside to safeguard customer interests.


EBS Dealing Service documentation

EBS Service Company Limited offers the EBS Dealing Service for the products listed in the Legal and Regulatory Structure Schedule, in accordance with the following EBS Dealing Rules and supporting documents:

EBS Dealing Rules – General Terms

Rules that apply to all platforms that have products provided for trading by EBS Service Company Limited.


EBS Dealing Rules – EBS Market Appendix

Additional rules for trading on EBS Market.


EBS Dealing Rules – EBS Hedge Appendix

Additional rules for trading on EBS Hedge.


EBS Dealing Rules – EBS Direct Appendix

Additional rules for trading on EBS Direct.


EBS Dealing Rules – EBS Institutional FX Appendix

Additional rules for trading on EBS Institutional FX.


Market Support Scheme Rulebook

View the rules established for the Market Support Scheme. 


EBS Market USDCNH Quote Fill Thresholds

Communication sent to customers regarding quote fill thresholds for EBS Market USD/CNH.


EBS Market NDF Quote Fill Thresholds

Communications sent to customers regarding quote fill thresholds for NDFs on EBS Market.


EBS MTF

Certain products on EBS platforms (as set out in the Legal and Regulatory Structure Schedule above) are made available for trading on the EBS Multilateral Trading Facility (“MTF”), as defined under MiFID, which is operated by CME Amsterdam B.V. The following rulebooks and other documentation apply to the EBS MTF:

EBS MTF Rulebook – General Terms

Rules that apply to all platforms that have products provided for trading on the EBS MTF.


EBS MTF Rulebook – EBS Institutional FX Appendix

Find rules specifically for EBS Institutional regarding products made available for trading on the EBS MTF.


EBS MTF Rulebook – EBS Direct Appendix

Find rules specifically for EBS Direct regarding products made available for trading on the EBS MTF .


EBS MTF Rulebook – Reset Segment Appendix

Find rules specifically for Reset products on the EBS MTF .


EBS MTF Venue Pre-Trade and Post-Trade Controls

View controls that apply to the EBS MTF, as required under MiFID II.


Unexecuted Orders to Transaction Thresholds for the EBS MTF

Access rules concerning unexecuted order to transaction thresholds.


MTF Venue Complaints Policy and Procedure

View our policy for handling customer complaints, in compliance with MiFID II.


EBS MTF Market Identifier Code Update – 22 Aug 2019

Communications sent to customers regarding an update to Market Identifier Codes.


EBS MTF Market Identifier Code Update – 1 Aug 2019

Communications sent to customers regarding an update to Market Identifier Codes.


EBS Forwards Price Sheet - Liquidity Provider

Find the fee schedule for EBS Forwards (applies to Liquidity Providers only).


EBS Institutional FX Price Sheet - Liquidity Provider

Find the fee schedule for EBS Institutional FX liquidity providers.


NEX SEF

The following documents are relevant to NDFs traded on EBS Market, available on the Swap Execution Facility (as defined in the US Commodity Exchange Act), operated by NEX SEF Limited:

Rulebook

NEX SEF Rulebook

View the rulebook which governs trading privilege holders trading products identified as SEF products. 


Pricing

NEX SEF - EBS NDF Market Data Price Sheet

Find the fee schedule for EBS on-SEF NDF market data.


NEX SEF - EBS NDF Price Sheet - Asian Currency Pairs

Find the fee schedule for all Trading Privilege Holders for EBS on-SEF NDF Asian currencies


NEX SEF - EBS NDF Price Sheet - LatAm Currency Pairs

Find the fee schedule for Trading Privilege Holders for EBS NDF Latin American currencies.


NEX SEF - EBS NDF Price Sheet - African Currency Pairs

Find the fee schedule for Trading Privilege Holders for EBS NDF African currencies.


Best execution reports

EBS MTF & NEX SEF

2019

EBS MTF & NEX SEF Best Execution Venue Report Q1 2019

2018

EBS MTF & NEX SEF Best Execution Venue Report Q1 2018


2019

EBS MTF & NEX SEF Best Execution Venue Report Q2 2019

2018

EBS MTF & NEX SEF Best Execution Venue Report Q2 2018


EBS MTF & NEX SEF Best Execution Venue Report Q3 2018


EBS MTF & NEX SEF Best Execution Venue Report Q4 2018


Reset EBS MTF

2019

Reset EBS MTF Best Execution Venue Report Q1 2019

 

 

2018

Reset EBS MTF Best Execution Venue Report Q1 2018

 

 


2019

Reset EBS MTF Best Execution Venue Report Q2 2019

 

 

2018

Reset EBS MTF Best Execution Venue Report Q2 2018

 

 


Reset EBS MTF Best Execution Venue Report Q3 2018

 

 


Reset EBS MTF Best Execution Venue Report Q4 2018

 

 


Reset NEX SEF

2019

Reset NEX SEF Best Execution Venue Report Q1 2019

 

 

2018

Reset NEX SEF Best Execution Venue Report Q1 2018

 

 


2019

Reset NEX SEF Best Execution Venue Report Q2 2019

 

 

2018

Reset NEX SEF Best Execution Venue Report Q2 2018

 

 


Reset NEX SEF Best Execution Venue Report Q3 2018

 

 


Reset NEX SEF Best Execution Venue Report Q4 2018

 

 


EBS Institutional

2019

Market Information Table 1

 

 


Market Information Table 2

 

 


Cost Information Table 5

 

 


Best Execution Venue Report - Table 6


2018

Market Information Table 1

 

 


Market Information Table 2

 

 


Cost Information Table 5

 

 


Best Execution Venue Report - Table 6


2019

Market Information Table 1

 

 


Market Information Table 2

 

 


Cost Information Table 5

 

 


Best Execution Venue Report - Table 6

2018

Market Information Table 1

 

 


Market Information Table 2

 

 


Cost Information Table 5

 

 


Best Execution Venue Report - Table 6


Market Information Table 1

 

 


Market Information Table 2

 

 


Cost Information Table 5

 

 


Best Execution Venue Report - Table 6


Market Information Table 1

 

 


Market Information Table 2

 

 


Cost Information Table 5

 

 


Best Execution Venue Report - Table 6


EBS Market Support Scheme Rulebook

View the EBS Market Support Scheme.


LP Disclosure

HSBC External Business Disclosure


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