February 02, 2022 - EBS, a leading provider of electronic trading platforms and technology services in foreign exchange markets, today announced that its eFix Matching Service reached a record daily notional volume of $25.3 billion on January 31, 2022. This surpasses the previous record of $19.7 billion achieved on November 30, 2020.

This record follows a 20% increase in trading volume on the platform in both 2020 and 2021.

"Clients turn to our eFix Matching Service to automate their price fixings amid continued geopolitical uncertainty and resulting volatility in the FX markets," said Jeff Ward, Global Head of EBS. "Client adoption of the eFix Matching Service has consistently grown year-on-year and we are pleased to provide the market with a transparent, electronic venue to manage their fixing risk."

The EBS eFix Matching Service allows banks to net client fixing risk ahead of calculations for the WM/Reuters 4pm fix and a wide range of other FX industry benchmarks, such as Bloomberg's BFIX and The Moscow Exchange's MOEX RUB Fix. The service was launched in 2014 as a global central utility to execute benchmark risk in an electronic and transparent fashion in direct response to the Financial Stability Board recommendations.