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RZB signs up to EBS Prime

03 December 2007  |  1894 views  |  0 Source: Icap

Icap (IAP.L), the world's premier interdealer broker and operator of the leading spot FX trading platform EBS, announced on Monday that Raiffeisen Zentralbank Oesterreich AG (RZB) has joined as a new EBS Prime Bank.

RZB is the central institution of the Austrian Raiffeisen Banking Group, the country's largest banking group.

EBS Prime is a facility that enables customer banks to view and trade on the best prices available to the world's leading FX banks on the EBS system. An EBS Prime Bank offers its customers access to tighter prices and a greater depth of liquidity, increasing their revenue opportunities and improving their competitive position in the market.

ICAP has seen strong growth in the number of customers trading through EBS Prime. The number of live customers in the month of October rose by 50 percent year on year from 169 to 254. RZB will join EBS Prime as one of the first regional Prime Banks.

David Faulkner, Global Prime Manager, ICAP Electronic Broking said "We are thrilled that Raiffeisen Zentralbank has joined us as a new EBS Prime Bank. RZB is known for its excellent contacts in Central and Eastern Europe and we believe that EBS Prime is the best model for RZB to offer their customers access to the most liquid spot FX prices."

Gerhard Herda, Vice President, Global Treasury & Markets, Raiffeisen Zentralbank Oesterreich AG said "We are very pleased to have joined EBS as an EBS Prime Bank. EBS Prime allows us to further enhance our relationships with our customers and also potentially increase our own revenue opportunities by more efficiently managing our counterparty credit."

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