FXSPOTSTREAM® ANNOUNCES THE START OF BANK TO CLIENT PRODUCTION TRADING JUST SEVEN MONTHS AFTER COMPANY’S FORMATION. FXSPOTSTREAM®’S MULTIBANK SPOT FX PRICE AGGREGATION SERVICE IS ALSO NOW LIVE GLOBALLY FROM ITS SITES IN THE U.S., EUROPE AND ASIA
JERSEY CITY, N.J. – FXSpotStream® LLC, a wholly owned subsidiary of LiquidityMatch LLC, today announced that bank to client production trading has commenced via its multibank Spot FX price aggregation service just seven months after the company was formed. In addition, FXSpotStream® has completed the build out of its sites ahead of schedule and the service is now available globally from FXSpotStream®’s hosted sites in New York, London and Tokyo.
FXSpotStream®’ s liquidity providers, which include BofA Merrill Lynch, Citi, Commerzbank AG, Goldman Sachs, HSBC and J.P. Morgan, are now all live on FXSpotStream®.
FXSpotStream® provides a multibank FX aggregation service to clients for the purpose of executing Spot FX trades. Banks connected to FXSpotStream® serve as liquidity providers to clients. FXSpotStream® functions as a market utility, providing the infrastructure that facilitates the multibank API and associated routing mechanism to route trades from clients to liquidity providers. 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. FXSpotStream® does not charge brokerage fees to clients or liquidity banks.
The majority of LiquidityMatch shareholders are also liquidity providing banks of FXSpotStream®.
Alan F. Schwarz, CEO, stated: “The fact that FXSpotStream® has delivered a fully functional, global service to clients 7 months after the company was formed is testament to the importance our shareholders and liquidity providers have placed on the long term success of our business. It is extremely gratifying that in such a short period of time we have taken the service live globally and are already supporting bank to client production trading. Our shareholders, liquidity providers and technology provider, SmartTrade Technologies, have all been laser focused on getting the service into production and our ability to execute on our original plan ahead of schedule positions us well to bring client driven solutions to the marketplace.”
Liam Hudson, BofA Merrill Lynch’s Managing Director and Global Head of FX Ecommerce Trading in London added “BofA Merrill Lynch has been involved in FXSpotStream® since its inception and the offering is perfectly timed to address the needs of our clients. We are seeing a need for the service out of all our regions and are impressed with what FXSpotStream® has accomplished thus far.”
“Early client feedback about FXSpotStream® has been very positive,” said Svante Hedin, Managing Director and Global Head of FX Ecommerce Trading at J.P. Morgan in London. “The appeal of FXSpotStream® is that it offers fast and transparent price aggregation and a reduced cost of execution for both J.P. Morgan as a liquidity provider and for our clients.”
More Posts from FXSpotStream®
In February 2022, FXSpotStream registered a new high in terms of supported volume with an ADV of USD63.135bn. This represented a 19.15% increase MoM (compared to Jan ’22) and a 27.3% increase YoY (vs Feb ’21). The previous ADV high was in March 2020 as volatility around the Covid-19 pandemic reached its peak. Furthermore, February…
In 2021, FXSpotStream registered an ADV of USD48.397billion, an increase of 13.48% YoY vs. 2020 as we continue to gain market share. FXSpotStream reported positive YoY growth each month in 2021, with the exception of one. This growth was driven by positive YoY growth in all products, notably a 26.94% increase in Swaps ADV and…
FXSpotStream has been voted Best Margin FX ECN/Multi bank platform in the J-Money Survey for the 5th consecutive year. J-Money is a leading industry magazine for financial professionals in Japan. Founded in 1986, J-Money has published articles and editorial articles covering market trends such as foreign exchange, bonds and stocks, as well as developments in…
October 6, 2021 – JERSEY CITY, NJ – FXSpotStream (FSS) announces the deployment of a new low-latency architecture. The new architecture, which will be deployed globally, will deliver substantial improvements to the Service’s market data processing times. The project is already underway in the New York site and will involve a full overhaul of the…
Colin Lambert talks with Alan Schwarz, CEO, and Tom San Pietro, CTO, of FXSpotStream about the platform’s recent addition of algos. The three discuss the thinking behind the launch; the challenges of delivering multiple algos, from multiple providers, via an API; and the opportunity set for FXSpotStream and its clients on the buy and sell…
Read the Cover Interview with FXSpotStream’s Co-founder & CEO, Alan F. Schwarz who talks about the company’s recent announcement to support FX Algos and Allocations. Click here to read the full interview here.
June 23, 2021 – JERSEY CITY, NJ – FXSpotStream (FSS) has added functionality to support FX Algos and Allocations over its API and expects to have its first clients live in early Q3. FSS clients will have access to over 70 different Algos and 200+ parameters offered by the FSS Liquidity Providers (LPs). FX…
FXSpotStream has crossed the USD50 Trillion mark in volume supported over the Service since going live. Volumes over FSS have grown every year since FSS first launched, and in 2020 FXSpotStream registered as the fastest growing eFX service for the third consecutive year. Not only is this is a great milestone, but it also demonstrates…
FXSpotStream is proud to announce it was honored as the ‘Best FX Trading Platform’ in the 2021 Markets Choice Awards from Markets Media. It was the combination of FXSpotStream’s ‘no cost to taker’ model, combined with a strong focus on client service, that saw FXSpotStream emerge victorious. In 2020, FXSpotStream registered as the fastest growing…
In March 2021, FXSpotStream posted an ADV of USD54.674billion, an increase of 10.24% MoM vs February. March’s second highest ADV on record comes on the heels of the second highest ADV previously recorded last month, and trails only March 2020 when the FX market saw extreme volatility due to the Covid-19 outbreak. March ’21 also…