International derivatives market CME Group announced today that it will combine the two non-deliverable forward liquidity (NDF) pools on the EBS Market platform into a single trading venue in October 2024, subject to regulatory approval.
The combination will bring market participants across all regulatory jurisdictions into a unified global trading environment, supporting improved market efficiency and strengthening EBS’s role as a leading source of centralized liquidity and price discovery in NDFs.
“Amid continued fragmentation and increasing complexity in the global FX market, the need for a unified, globally accessible primary trading venue for NDFs is greater than ever,” said Paul Houston, Global Head of FX Products, CME Group. “The combination of the two leading NDF trading platforms will improve participant access around the world, while expanding liquidity, improving price discovery and providing operational efficiencies for the market.”
EBS Market was the first venue to offer electronic NDF trading on a central limit order book in 2007. Clients are able to trade Asian NDF, LatAm NDF and African 1 month NDF on the platform.