Bank-backed foreign exchange dealing outfit EBS has launched EBS Live, a market data service that promises to cut delivery times for spot FX prices.
EBS says the new service will feed real-time prices direct to a bank's market data distribution platform at a consistent speed of less than 200 milliseconds, cutting data delivery times by a quarter.
Jack Jeffrey, EBS chief executive, says the service has been developed to meet bank demands for quicker data delivery in the fast-moving interbank currency markets. He says internal research shows that traders tend to execute against the fastest price if two quotes the same are received: "Our research has found that data latency is becoming an increasingly key issue for traders."
Jeffrey says advanced demand for the new product from banks seeking "first mover advantage" is already very strong.