EBS announced today that international investment bank Lehman Brothers has signed up to become an EBS Prime Bank.
EBS Prime is an important service from the world's pre-eminent provider of foreign exchange trading solutions to the interbank trading community.
It enables leading FX banks to capitalise on a relationship model by offering their unused credit to other banks wishing to join the professional FX trading community on EBS Spot, the screen-based anonymous dealing system used by more than 2,000 FX traders around the world.
As well as extending access to the interbank community, Lehman Brothers will also participate in the research and development project for EBS Prime Professional, the service that will extend the EBS Prime model to the non-interbank professional trading community, those who trade high frequency in FX by assuming risk, such as hedge funds, CTAs and FCMs.
Mark Monahan, head of global sales and service, EBS, said: "The addition of Lehman Brothers is a real endorsement of the EBS Prime relationship model we are promoting through EBS Prime – one that we firmly believe adds value to both the banks and their customers."
Consistently ranked among the world's top investment banks, Lehman Brothers holds leadership positions in equity and fixed income sales, trading and research, investment banking, private equity and private client services across the globe. Grant Whiteside, global head of foreign exchange at Lehman Brothers, said: "EBS Prime PTC is an exciting addition to our FX e-commerce product offering. Through EBS Prime PTC, qualifying clients now have direct access to the best prices in the interbank market."