Icap opens up prime model
NEW YORK – Interdealer broker Icap has opened its EBS Prime model to allow clients to use more than two EBS Prime banks to trade on electronic spot broking system EBS Spot.
The move, which came into effect on November 30, removes the cap of two prime banks per client set two years ago in response to the increasing popularity of the FX multi-prime model, said an Icap official in New York. It follows a 12-month consultation process with all Icap’s prime banks.
“Prime brokerage is gaining in
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