EBS (Electronic Broking Services) and Reuters Dealing 3000 Spot Matching (D2) are electronic brokers used by interbank foreign exchange traders worldwide to match buyers and sellers of various currency pairs. Traders choose a currency pair, enter an amount and a bid or an offer price, and any other bank with mutually sufficient credit may then trade on that price. The currency pairs supported by each system are as follows:

Currency pair EBS Reuters
3000
Matching
(D2)
EUR / USD
USD / JPY
EUR / JPY
GBP / USD
EUR / GBP
USD / CHF
EUR / CHF
USD / CAD
EUR / CAD
AUD / USD
EUR / AUD
NZD / USD
EUR / NZD
USD / SEK
EUR / SEK
USD / DKK
EUR / DKK
USD / NOK
EUR / NOK
USD / SGD
USD / HKD
USD / ZAR
EUR / ZAR
USD / MXN
Currency pair EBS Reuters
3000
Matching
(D2)
USD / THB
USD / CZK
EUR / CZK
EUR / SKK
USD / PLN
EUR / PLN
USD / HUF
EUR / HUF
USD / RON
EUR / RON
USD / ISK
EUR / ISK
USD / TRY
EUR / TRY
USD / RUB
USD / SAR
USD / ILS
USD / INR
AUD / NZD
AUD / JPY
CHF / JPY
GBP / JPY
NOK / SEK

Primary liquidity source
Supported but with limited and/or intermittent liquidity
Supported but not used in practice

We try to keep this list up-to-date, although a complete current list of supported currency pairs can also be found on Reuters pages EBSFX= and D2FX=.

In normal trading conditions during European hours, the EUR/USD spread in EBS is usually only 1 pip (0.0001) because of the large volumes being traded. Other currency pairs typically have wider spreads.

Electronic brokers have evolved to become the primary method of trading interbank spot FX. One drawback of electronic brokers (known by traders as “the machine” or “the toy”) is that they cover only the most major currencies as well as some of the most popular exotic (or “emerging markets”) currencies. Prices for many low volume currencies are therefore covered only by voice brokers.