LONDON May 19 Currency trading platform EBS has
appointed former Thomson Reuters executive Paul Allmark as head
of global e-commerce, an important role in a market struggling
with falling volumes and a row over alleged manipulation of
With banks saying they now do as much as 90 percent of
foreign exchange trading by machine, "e-commerce" bosses who
tend to oversee such interfaces with clients are increasingly
becoming major players in the structure of the industry.
ICAP-owned EBS, the major venue for trade by banks
and other major institutions in dollars, yen, euros and Swiss
francs, has seen volumes in its core currency trading business
collapse this year.
It is also one of the many industry firms examining
different technical solutions in response to a row over
manipulation of market benchmarks.
Allmark previously spent 10 years at Thomson Reuters as
Global Head of Electronic Trading and head of marketplaces for
(Reporting by Patrick Graham; editing by Tom Pfeiffer)