Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

ICAP EBS Goes To Half-Pip Pricing To Placate Big Banks

|Includes:Ameriprise Financial, Inc. (AMP), AMTD, BAC, BBD, BBVA, BCS, BGCP, BK, BMO, BNS, BTFRF, C, CM, CME, CS, DB, DJ, ETFC, FB, FTGI, FX, FXCM, GCAP, GS, HSBC, IAPLF, IAPLY, IBKR, IGGRY, JPM, LUK

Part of EBS's plans to take out high frequency traders.

ICAP logoAs we reported two months ago as being in the planning stages, ICAP-EBS today confirmed that it is going to half-pip pricing (from decimal pricing) for most major FX pairs. The changes will be effective as of Monday, September 17.

This appears to be the first major move to be made by newly-installed EBS CEO Gil Mandelzis, to repair EBS's relationship with its core group of bank clients, while at the same time making it more difficult for high frequency traders to maintain a trading advantage.

For more details see LeapRate's Forex Industry News at leaprate.com.

Get the LeapRate-DJ FIR today ad cc

Stocks: AMP, AMTD, BAC, BBD, BBVA, BCS, BGCP, BK, BMO, BNS, BTFRF, C, CM, CME, CS, DB, DJ, ETFC, FB, FTGI, FX, FXCM, GCAP, GS, HSBC, IAPLF, IAPLY, IBKR, IGGRY, LUK, JPM