Bloomberg offers free EBS

The EBS-Bloomberg alliance announced last summer (FX Week, May 26) is widely seen as having failed to crack the market.

Banks expressed uncertainty about whether the latest initiative will see take-up increase significantly. Tom Roche, global head of ecommerce and agency treasury services at Royal Bank of Scotland, said: "There is a growing reluctance to pay fees for trading platforms. I think the move to provide FX pricing and liquidity free of charge will have some impact but the market is