EBS Shelves Data Vendor Ambition, Buys Cicada Out of Contract

VENDOR STRATEGY

LONDON--EBS has ended its contract with Cicada, in which Cicada was helping it to become an FX market data vendor.

EBS, a consortium-backed interbank FX brokerage system, paid Cicada to break a seven-year contract it signed with the market data and technology consultant last year, sources say.

The contract cancellation suggests the end of EBS’ plan to expand its horizons beyond its consortium and provide a data feed to the wider market.

In a statement issued last week, EBS said its decision to