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ICAP-EBS Aims To Take Out Hi-Frequency FX Traders

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Plans to scrap decimal pricing and introduce half-pips.

ICAP logoThe 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.

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

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