For release: 07 Jun 2006
EBS Dealing Resources Extends EDS Relationship
EDS Will Continue Decade-long Engagement To Manage Company’s Global Network
PLANO, Texas – EDS today announced it is extending its nearly decade long relationship with EBS Dealing Resources, the world's leading provider of trading and market data solutions to the professional FX and precious metals communities. Financial details of the agreement were not disclosed.
EDS will continue to enable EBS' global growth with a range of IT services including management of the company's global network operations, field services and telecommunications.
“By the nature of our business, we need to ensure that our clients have the most accurate trading information and market data in real time,” said Bill Moran, Chief Operating Officer of EBS. “Key is our ability to improve trading response time across a globally distributed network as we respond to an increasingly more competitive marketplace. Our partnership with EDS has enabled us to grow, add new markets, new segments and new currencies and increase speed to market.”
EBS has made significant investments in improving the responsiveness of its trading platform. Since these were implemented in February 2006, the organisation has witnessed a significant increase in spot FX volumes transacted on the system.
The EBS and EDS relationship began in 1997 and EDS has been providing the company with global network operations, field services and telecommunications. Combining global access with technological expertise, EBS has been able to offer an unparalleled combination of innovative and user-friendly technology together with superior customer service and support.
“EBS has experienced exciting growth opportunities since its launch and EDS is privileged to have been a partner for the past 10 years,” said Tom Warsop, EDS Vice President, US Financial Services. “In an industry that demands high levels of trust from shareholders, regulators and customers, EDS' commitment to operational excellence also makes us the clear choice to continue this partnership.”
EDS' 35 years of experience in the financial industry provides the company with unparalleled insight and our clients with greater value. EDS provides a wide range of outsourced service from payments and securities processing to applications development and network, customer relationship management and helpdesk services to all sectors of the industry. EDS' work in the worldwide financial services industry accounted for approximately 22 percent of the company's revenue in 2005. Today, EDS has more than 20,000 employees serving financial services firms in more than 30 countries.
About EBS
Launched in September 1993 by a group of the world's largest foreign exchange market making banks, EBS is the pre-eminent provider of foreign exchange trading and market data solutions to the professional spot foreign exchange community.
Approximately USD 145 billion in spot foreign exchange, 700,000 oz gold and 7,000,000 oz silver transactions are conducted over the EBS Spot Dealing System in more than 40 countries each day.
EBS was acquired by ICAP, the world's largest interdealer broker, in June 2006. The acquisition will combine EBS' strengths in electronic spot foreign exchange with ICAP's Electronic Broking business to create a single global multi-product business with further growth potential and significant economies of scale. This platform will provide customers with more efficient electronic trade execution, reduced integration costs and give access to broad liquidity across a wide product range.
The EBS solutions portfolio includes:
- EBS®™ Spot (electronic FX spot broking)
- EBS®™ Spot Ai (application program interface (API) between the customer's trading system and the EBS Spot market)
- EBS®™ Prime (access for the interbank and professional trading communities to the best EBS Spot prices from an EBS Prime bank)
- EBS®™ Metals (electronic spot broking for the precious metals market)
- EBS®™ Market Data
- EBS®™ Live (live streaming prices delivered with minimum latency direct from EBS to the customer's market data distribution platform)
- EBS®™ Ticker (third-party system distribution of EBS Spot prices)
- EBS®™ Rates (desktop view of EBS Spot prices, available exclusively through the BLOOMBERG PROFESSIONAL® service)
- EBS®™ Data Mine (unique and certified historical data from 1997 onwards)
The statements in this news release that are not historical statements, including statements regarding the amount of new contract values, are forward-looking statements within the meaning of the federal securities laws. These statements are subject to numerous risks and uncertainties, many of which are beyond EDS' control, which could cause actual results to differ materially from such statements. For information concerning these risks and uncertainties, see EDS' most recent Form 10-K. EDS disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
About EDS
EDS is a leading global technology services company delivering business solutions to its clients. EDS founded the information technology outsourcing industry more than 40 years ago. Today, EDS delivers a broad portfolio of information technology and business process outsourcing services to clients in the manufacturing, financial services, healthcare, communications, energy, transportation, and consumer and retail industries and to governments around the world. Learn more at eds.com.
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