EBS Launches FRA Service; Set To Rival CME's Eurodollar


NEW YORK--The EBS Partnership last week went live with its Forward Rate Agreement (FRA) electronic matching service. Although volume was thin in the first few days, sources say that liquidity is expected to increase as users familiarize themselves with the service. Sources also say that if the service gains even a percentage of the acceptance that EBS's flagship FX spot matching service enjoys, the FRA product could potentially reshape the marketplace.

A source close to EBS says that the

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