EBS confirms market low dealt at 0.8500 in EUR/CHF
The market low for the euro
against the Swiss franc on leading currency trading platform EBS
was 0.8500 francs and a price quote at 0.0015 was a “miss-hit”,
the company said on Thursday.
The Swiss National Bank shocked markets by abandoning its
three-year old cap at 1.20 francs per euro on
Thursday, sending the the single currency plunging by as much as
30 percent against the Swiss franc, before recovering a little
to trade at 1.0290, still down over 14 percent on the day.
“As a result of the Swiss National Bank announcement that it
has discontinued its minimum exchange rate, EBS Market
experienced significant volatility in EUR/CHF,” a spokeswoman
for ICAP – EBS’s parent company – said in a statement.
EBS is one of the main venues for banks and other major
players trading the dollar, euro, yen and Swiss franc.
“A miss-hit occurred resulting in a market low being
published. This has been confirmed and the counterparties on
both sides of the trade are in contact,” the spokeswoman added,
referring to a price quote at 0.0015 francs per euro.