ICAP, an electronic interdealer broker, has announced that Raiffeisen Zentralbank Oesterreich, an Austrian banking group, has joined as a new EBS Prime bank.
EBS Prime is a facility that enables customer banks to view and trade on the best prices available to the world’s leading FX banks on the EBS system. An EBS Prime Bank offers its customers access to tighter prices and a greater depth of liquidity, increasing their revenue opportunities and improving their competitive position in the market.
ICAP has seen strong growth in the number of customers trading through EBS Prime. The number of live customers in the month of October rose by 50 percent year on year from 169 to 254. RZB will join EBS Prime as one of the first regional Prime Banks.
David Faulkner, global prime manager of ICAP Electronic Broking, said: We are thrilled that Raiffeisen Zentralbank has joined us as a new EBS Prime Bank. RZB is known for its excellent contacts in Central and Eastern Europe and we believe that EBS Prime is the best model for RZB to offer their customers access to the most liquid spot FX prices.