Icap updates rules for EBS Spot Ai customers
Icap has introduced new rules of engagement for its automated trading platform, EBS Spot Ai, following the introduction of decimalised pricing on major currency pairs on March 7.
The new rules, which came into force on April 1, limit ‘top-of-book quote interrupts' (TBQI) to 200 per institution per day. A TBQI is the result of a quote that is submitted at a configured number of pips better than EBS best price on the same side of the market, is interrupted within a set time configured by EBS, and
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