EBS takes over Cicada’s share of joint market data

TECHNOLOGY NEWS

LONDON -- EBS has bought market data and technology consultancy Cicada’s interest in the EBS Market Data Business, the two firms announced last week. Cicada was working on a range of additions to EBS’s market data capability.

EBS, a spot FX broker owned by a consortium of 12 banks and Japan’s Minex Corporation, paid Cicada an undisclosed sum to break away from the seven-year contract it signed with it last year.

As a result of the deal, Cicada has now laid off up to 20 staff that were workin