Gerald Segal is a Managing Director at LeapRate, which provides analysis of the Online Forex Trading world. Gerald's reports are a leading source of information on the size, growth and regulation of the Online Forex industry. Prior to founding LeapRate Gerald was an investment banker for 18... More
Plans to scrap decimal pricing and introduce half-pips.
The Wall Street Journal ran an interesting report, stating that leading electronic broker ICAP-EBS plans to scrap the fifth decimal place on its currency quotes and introduce half-pip pricing ahead of wide-ranging changes to its system.
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.
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ICAP-EBS Aims To Take Out Hi-Frequency FX Traders 0 comments
Plans to scrap decimal pricing and introduce half-pips.
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.
Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.
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