PBs get new help in war on generosity

Big FX venue operators offer way to reduce overallocation of credit

EBS and Refinitiv are launching application programming interfaces (APIs) that allow foreign exchange prime brokers (PBs) to automatically adjust client credit limits based on consumption during the day – the latest attempt to tackle the industry’s long-standing problem of overly generous credit lines, and the risks that go with them.

Currently, prime brokers split up each client’s credit line and spread it across the spot FX market’s galaxy of venues – allowing some excess capacity at each of

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