The Lab

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Please refer to Supported Instruments to view across all venues.

PartyIDs

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Please refer to PartyIDs to view across all venues.

Regulatory Fields

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Please refer to Regulatory Fields to view across all venues.

Passthru Fields

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Please refer to Passthru Fields to view across all venues.

Details

Deployment

Info
titleEBS CentralPostTrade Session

An ebs_cpt session is paired with ebs_market_ilink3_sbe. When fills occur for orders on ebs_market_ilink3_sbe, drop-copies will be delivered providing additional regulatory details.


Please note that MarketFactory has completed EBS CPT FIX certification with EBS Markets for PrimeBroker Client and InterDealer workflows, against  Spot, Metals, NDF, eFIX Instrumets.

The PrimeBroker workflow is currently out of scope; MarketFactory's PB clients use our Reflector pre-trade credit checking system. 

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Note
titleNDF Tenors

Please note CPT delivers EOM tenor trades as broken-dated.


Note
titleNDF Liquidity Pool Consolidation


Background of EBS Market NDF Trading

  • EBS Market (CLOB) operates Spot FX and precious metals markets under the legal entity EBS SERVICE COMPANY LIMITED (MIC: EBSC)
  • NDFs operated under the same legal entity venue as Spot and Precious Metals until 2013. 
  • In 2013, a Swap Execution Facility (SEF) called NEX SEF (MIC: NEXS) was launched to address regulatory requirements in the US. 
  • US-located clients began trading “on-SEF”, while EMEA and APAC continued trading “off-SEF” on the legacy venue. 
  • In 2017, the off-SEF instruments were migrated to a separate regulated venue, a Multilateral Trading Facility (MTF) called BEL MTF (MIC: XEBS). 
  • Late last year, the CFTC reaffirmed the no-action relief previously given to MTF venues, allowing full access from US participants (previously restricted to accessing only SEF venues.) 
  • This cleared the way for CME to merge all NDF trading onto the MTF, thus removing bifurcation from the NDF market. 

Single Liquidity Pool (SLP) Timeline: Beginning 30 September 2024, EBS Market NDFs will no longer trade on the NEX SEF and the BEL MTF; all NDF trading will happen on the BEL MTF. 

  • No changes will occur to existing MTF trading, connectivity or venue setup. 
  • SEF trading will no longer be allowed (order entry disabled)
  • SEF will remain live for contingency purposes