according the the weekly fix (www.euromoneyfix.com), Icap has told clients it will pilot a scheme for small lot (100,000) trading.
MrAngry: why are they doing this? Is their interdealer biz/marketshare going back? Do you think they will be sucessful with small lot trading? Will they ever quote in 0.1 pip increments? Or continue to live in 1999?
EBS is losing market share, or so it seems. The system appears to have a degree of inflexibility. The new pilot would seem to address these - it also includes fractional pricing. Not sure why it wasn't all rolled into main platform though. Must be a reason. The claim that it allows easier offsetting against futures looks spurious though, as you can only trade in 100,000 lots. Who knows - not me!