FXSPOTSTREAM® TAKES MORGAN STANLEY LIVE IN NEW YORK AND LONDON AS THE 7th LIQUIDITY PROVIDER OF FXSPOTSTREAM®’S PRICE AGGREGATION SERVICE
JERSEY CITY, N.J. – FXSpotStream® LLC, a wholly owned subsidiary of LiquidityMatch LLC, today announced that Morgan Stanley is now live as a liquidity provider of FXSpotStream®’s price aggregation service from FXSpotStream®’s sites in New York and London. Morgan Stanley is now the 7th bank available to clients connected to FXSpotStream®’s service. In addition to Morgan Stanley, FXSpotStream®’s liquidity providers include BofA Merrill Lynch, Citi, Commerzbank AG, Goldman Sachs, HSBC and J.P. Morgan all of which are live globally.
FXSpotStream® provides a multibank FX aggregation service to clients for the purpose of executing Spot FX trades. The offering functions as a market utility, supplying the infrastructure that facilitates the multibank API and associated routing mechanism to route trades from clients to liquidity providing banks. Clients access a single API from co-location sites in New York, London and Tokyo and have the potential to communicate with all banks connected to the FXSpotStream® solution. FXSpotStream® does not charge brokerage fees to clients or banks.
The majority of LiquidityMatch shareholders are also liquidity providing banks of FXSpotStream®. Alan F. Schwarz, CEO, stated: “We continue to execute on our business plan and meeting our strategic time lines. Morgan Stanley is live from our sites in New York and London just over two months after we signed Morgan Stanley as a liquidity provider on FXSpotStream®. We have been supporting bank to client production trading globally since July of last year with our initial set of banks and are pleased to add Morgan Stanley to the list of liquidity providers available to our clients. We expect to have Morgan Stanley live from our site in Tokyo in Q1 of this year. We also expect to be adding liquidity providers to the service in the coming year.”
Harry Moumdjian, Executive Director at Morgan Stanley in New York, added: “FXSpotStream® is delivering on our expectations and we look forward to utilizing the service to trade with clients. The economies of scale gained by using FXSpotStream® will benefit our clients and Morgan Stanley.”
“FXSpotStream®’s timely and seamless on boarding of Morgan Stanley is another example of the execution we have seen from FXSpotStream® since our involvement with the service,” said Paul Scott, Global Head of eFX Trading at Commerzbank AG. “In addition to providing a service that allows Commerzbank AG to deal directly with clients in a more efficient and transparent manner, the reliability of the service and the experience for us and our clients is important. FXSpotStream® continues to meet our requirements and we expect the volume transacted via FXSpotStream® and the clients using the service to continue to grow in the coming year.”
More Posts from FXSpotStream®
Reporting from TradeTech FX Europe: The TRADE speaks with FXSpotStream’s CEO, Alan F. Schwarz, about the importance of meeting client’s needs, volatility experienced this year, as well as what the future holds for the firm. Alan Schwarz, CEO of FXSpotStream from TRADE TV on Vimeo.
Following the addition of all the LP FX Algos to our GUI, our CEO, Alan F. Schwarz, and CTO, Tom San Pietro, sat down with Colin Lambert of The Full FX to discuss the growth in supported Algo volume on the API and GUI and what’s ahead. In August we registered an ADV high in…
Eleven years after work began to create FXSpotStream, we reflect on some of the incredible milestones we have achieved along the way.
July overtook June as our second highest ADV ever, at USD64.037bn, an increase of 0.31% MoM. June had previously set a record for the second highest ADV, following a 9.32% increase over May 2022. July’s ADV represents a 33.66% growth in terms of ADV YoY for FXSpotStream, the largest YoY volume percentage increase of any…
FXSpotStream registered its second highest ADV ever in June ’22 surpassing the previous second highest ADV record set in February ’22. June also registered the 2nd highest total volume in any month. In addition, June’s ADV of USD63.837billion is a 9.32% increase over May’s ADV of USD58.392billion and marks a sixth consecutive month supporting well…
Featuring: Dan MacGregor (State Street), Ajay Kataria (Barclays), Loic Bourgeois Ducournau (Societe Generale) and Alan Schwarz (FXSpotStream) Understanding your market impact is a huge factor in any trade. Algos can be configured to your desired execution styles (passive, neutral or aggressive) and altered during execution. In our final episode we will discuss the WHY. When…
Featuring: Mark Meredith (Citi), Nickolas Congdon (Commerzbank), Evangelos Maniatopoulos (Credit Suisse) and Raju Dantuluri (FXSpotStream) In episode 3 we take a look at algo strategies with speakers from Citi, Commerzbank and Credit Suisse. Strategies are the big differentiator when choosing an algo and although some may appear similar on the surface, by controlling the parameters…
Featuring: Paris Pennesi (HSBC), Alexander Nowak (J.P.Morgan), Asif Razaq (BNP) and Tom San Pietro (FXSpotStream) Understanding how the LPs deal with Spot contingent Forwards where clients can set a forward date on order entry and the Algo would automatically roll forward after it has executed. Popularity of NDF currencies with respect to deliverable currencies for…
FXSpotStream registered a NEW RECORD ADV HIGH in March ’22 surpassing the ADV record set last month. March’s ADV of USD70.115billion is an 11.06% increase over February’s ADV of USD63.135billion and completes what has been the highest volume quarter in the company’s history. In Q1 2022, FXSpotStream supported USD3.988trillion, with a Q1 ADV of USD62.313billion.…
Join FXSpotStream, Representatives from the FXSpotStream Liquidity Providing Banks and Moderator, Colin Lambert of The FullFX, as we sit down with our LPs to discuss FX Bank Algos. This 4-part series will be broadcast in LIVE sessions as we uncover different aspects of FX Bank Algos, how clients can use and benefit from the Bank…