FXSPOTSTREAM® ANNOUNCES THAT UBS HAS JOINED AS A LIQUIDITY PROVIDER OF FXSPOTSTREAM®’S PRICE AGGREGATION SERVICE, EXPANDING FXSPOTSTREAM®’S LIQUIDITY PROVIDERS TO EIGHT GLOBAL FX BANKS
JERSEY CITY, N.J. – FXSpotStream® LLC, a wholly owned subsidiary of LiquidityMatch LLC, today announced that UBS has joined as a new liquidity providing bank to FXSpotStream®’s clients. UBS adds to the liquidity available from FXSpotStream®’s existing liquidity providers, which include BofA Merrill Lynch, Citi, Commerzbank AG, Goldman Sachs, HSBC, J.P. Morgan and Morgan Stanley. The majority of LiquidityMatch shareholders are also liquidity providing banks of FXSpotStream®.
Alan F. Schwarz, CEO, stated: “We are very pleased to have UBS join as a liquidity provider to FXSpotStream®’s clients. The growth in liquidity providing banks since our initial launch and the increasing number of clients accessing the service globally confirms the service’s value proposition. FXSpotStream®’s service is unmatched in the market. With the addition of UBS we continue to execute on our strategic plan, which will soon include additional functionality and products for our clients to access. We expect to have UBS live and available for trading in late Q2 of this year.”
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.
Chris Purves, Managing Director and Global Head of FX E-Trading, added “We have been following the progress of FXSpotStream® and have concluded that the offering solves a need our clients and UBS have. As a leading FX market participant we are eager to play a role in initiatives that bring efficiencies to the market and reduce the cost of execution for our clients and for UBS. Further, it is important for us that we preserve the transparent and bilateral trading relationship we have with our clients and FXSpotStream® satisfies that requirement.”
“The decision by UBS to join the existing seven liquidity providing banks is further validation of the FXSpotStream® service offering,” said Richard Anthony, Global Head FX eRisk, GFX at HSBC. “FXSpotStream® has accomplished a great deal in a very short period of time and we look forward to playing a role in the continued expansion of the service to address our needs and those of our clients.”
More Posts from FXSpotStream®
NOVEMBER 18, 2024 – JERSEY CITY, NJ – Deutsche Bank is now live and trading with clients via FXSpotStream LLC, a wholly owned subsidiary of LiquidityMatch LLC, extending the bank’s FX wholesale liquidity. Deutsche Bank (DB) becomes the 18th liquidity provider available on FXSpotStream’s Service, joining ANZ, Bank of America, Barclays, BNP Paribas, Citi, Commerzbank,…
OCTOBER 08, 2024 – JERSEY CITY, NJ – ANZ has become the first Australian bank to join FXSpotStream LLC, a wholly owned subsidiary of LiquidityMatch LLC, extending the bank’s FX wholesale liquidity. As the 17th liquidity provider on FXSpotStream’s Service, ANZ joins Bank of America, Barclays, BNP Paribas, Citi, Commerzbank, Goldman Sachs, HSBC, J.P.Morgan, Morgan…
September saw FXSpotStream set a new record in terms of Overall ADV, crossing the USD100billion mark for the first time in the company’s history. September’s Overall ADV of USD101.925billion is the sixth Overall ADV record set this year and marks a 5.3% increase over the previous record set last month. While Spot ADV saw a…
In May of 2021, FXSpotStream celebrated crossing the USD50trillion mark in terms of overall volume supported since going live. While that first USD50trillion took 10 years to achieve, the second took only 3, coming in June of 2024. 2024 has proved to be a record breaking year so far for FSS – with 4 new…
LiquidityMatch LLC, the parent company of FXSpotStream LLC, has appointed John Ashworth as Independent Chair of its Board of Directors. John currently serves as CEO of Caplin Systems, a software firm that provides trading systems to the financial industry and has a background of over 30 years in technology. Starting his career at IBM, John…
Jeff Ward, FXSpotStream, CEO, speaks on his new role, his plans for 2024 and two record ADV months in Q1.
January’s Total ADV was an ADV Record High for FXSpotStream at USD73.645billion, with Spot ADV of USD54.737billion and Other ADV of USD18.902billion. Details of our January total volumes can be found below: FXSpotStream’s Total ADV MoM (Jan’24 vs Dec’23) increased 13.64% FXSpotStream’s Total ADV YoY (Jan’24 vs Jan’23) increased 21.59% FXSpotStream’s Spot ADV MoM (Jan’24…
JANUARY 15, 2024 – JERSEY CITY, NJ – FXSpotStream LLC, a wholly owned subsidiary of LiquidityMatch LLC, is dedicated to providing a diverse liquidity pool for its clients. Last year, following changes to our LP pricing model, we announced that NatWest had joined the Service. Following on from this, we are pleased to announce that…
OCTOBER 31, 2023 – JERSEY CITY, NJ – FXSpotStream LLC, a wholly owned subsidiary of LiquidityMatch LLC, is pleased to announce that NatWest has joined the Service as a liquidity providing bank. NatWest is now available and becomes the 16th bank available to clients connected to FXSpotStream’s price streaming service, joining Bank of America, Barclays,…
In the complex Foreign Exchange (“FX”) ecosystem, the convergence of real-time streaming and advanced analytics stands to reshape the industry. Leading the pack, FXSpotStream, the global leader in FX electronic liquidity distribution, has integrated Horizon, FairXchange’s award-winning data analytics platform, enhancing real-time analytics for more precise trading execution and analysis. FairXchange will provide its Horizon…