JERSEY CITY, N.J. – FXSpotStream® LLC, a wholly owned subsidiary of LiquidityMatch LLC, today announced the launch of a multibank Spot FX price aggregation service from its initial hosting site in the U.S. Liquidity providers of FXSpotStream® include: BofA Merrill Lynch, Citi, Commerzbank AG, Goldman Sachs, HSBC and JP Morgan Chase.
FXSpotStream® will provide a multibank FX aggregation service to clients for the purpose of executing Spot FX trades. Banks connected to FXSpotStream® will serve as liquidity providers to clients. FXSpotStream® will function as a market utility, providing the infrastructure that will facilitate the multibank API and associated routing mechanism to route trades from clients to liquidity providers. There will be no brokerage fees for the client or liquidity banks.
The majority of the LiquidityMatch shareholders are also liquidity providing banks of FXSpotStream®. Alan F. Schwarz, CEO, stated: “FXSpotStream® provides banks and clients the ability to communicate bilaterally using a solution that does not interfere with the transaction, is transparent and eliminates the cost of execution. Clients access a single API from co-location sites in New York, London and Tokyo and have the potential to communicate with all liquidity providing banks connected to the FXSpotStream® solution.”
“We are very pleased to be involved in bringing to market a solution that will allow clients a more efficient, less expensive way to deal directly with Citi and all other FX banks connected to the FXSpotStream® solution,” added Fergal Walsh, Co-Head of FX eTrading at Citi.
Richard Anthony, Global Head of FX eRisk, GFX at HSBC, stated “Any solution that allows us to reduce transaction costs by offering a brokerage free solution to liquidity providing banks and clients is a welcome addition to the market place.
“FXSpotStream®’s technology solution is supported by smartTrade Technologies. Harry Gozlan, CEO and Founder of smartTrade said: “We are extremely pleased to have been selected by FXSpotStream® and the consortium to provide the end-to-end technology solution needed for its clients to communicate with each other in a fast, reliable and transparent manner. Our technology solutions are used by some of the largest FX market participants and banks in the market and have been proven for functionality, scalability and redundancy.” http://www.smart-trade.net
Following the U.S. launch, FXSpotStream® plans to launch the solution from its hosted sites in Europe in Q2 and Asia in Q3 of this year.
More Posts from FXSpotStream®
With the current climate and health risks involved, award ceremonies have changed beyond recognition. The work involved in winning such an award, however, has seen no change. FXSpotStream CEO, Alan Schwarz, stood proudly alongside the Hudson River holding the two awards won by the company in the 2020 TradingTech Insight Awards USA. FXSpotStream was victorious…
FXSPOTSTREAM ADDS SOCIETE GENERALE AS THE 15th LIQUIDITY PROVIDER AS FXSPOTSTREAM HITS NEW VOLUME HIGHS IN Q1 May 21, 2020 – JERSEY CITY, N.J. – FXSpotStream LLC, a wholly owned subsidiary of LiquidityMatch LLC, today announced that Societe Generale has joined as a liquidity providing bank to FXSpotStream’s price streaming Service. Societe Generale is the…
FXSpotStream CEO, Alan Schwarz, reflects on ongoing changes within the FX market due to the impact of the current global crisis. He also highlights FXSpotStream’s performance, as well as its increasingly important role in global electronic FX markets. Click here to go to the audio podcast page.
FXSpotStream is shortlisted in the TradingTech Insight Awards – USA 2020 for Best Trading Solution for Foreign Exchange (FX) Markets and Best Exchange or Trading Venue Technology Suite. This is an award based on votes received from the market. Please click on the banner below to redirect to the award survey. Thank you for your…
FXSpotStream CEO, Alan Schwarz, speaks to Profit & Loss Managing Editor, Colin Lambert, on a podcast regarding how FXSpotStream supported the FX market during times of heightened volatility and Alan’s observations following record volumes, quote message updates and client orders in March 2020. Click here to listen to the podcast.
FXSpotStream is shortlisted in the Financial News Trading & Tech Awards 2020 – for Best Foreign Exchange Trading Platform.
FXSpotStream Monthly Volume Crosses the Trillion Dollar Milestone. FXSpotStream reported $1,372 billion in March volumes, which was 43% higher MoM from $956 billion in February 2020. It was another record month after the previous record month, and each one seemed to get bigger than the last. FXSpotStream LLC, the aggregator service of LiquidityMatch LLC, today…
Colin Lambert, Managing Editor, Profit & Loss Magazine, comments on anonymous vs. disclosed models: “[I]n the absence of other data, FXSS becomes the bellweather for the disclosed, relationship model and last week was eye-opening in that the platform hit a new record above $86 billion, which is not only a serious number, but also suggests…
February Sets 3 New Volume Highs: Record ADV, Daily Record and Overall Record On February 28, FXSpotStream set a new daily volume record of USD86.8 billion. The new daily record represents a 47.53% increase over the prior daily volume record set in August of last year of USD58.8 billion. February also recorded a new ADV…
FXSPOTSTREAM ADDS BARCLAYS AS THE 14th LIQUIDITY PROVIDER AS FXSPOTSTREAM BUILDS ON A 21% YEAR ON YEAR VOLUME INCREASE IN 2019 TOPPING USD9.4 TRILLION February 25, 2020 – JERSEY CITY, N.J. – FXSpotStream LLC, a wholly owned subsidiary of LiquidityMatch LLC, today announced that Barclays has joined the Service as a liquidity providing bank to…