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®
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…
FXSpotStream Co-founder & CEO, Alan F. Schwarz spoke with FX Algo News to discuss how clients will benefit from the upcoming functionality additions. Click here to read the full article. FX_Algo_News_Feb_2021
CEO, Alan F. Schwarz caught up with Gerald Segal of FX News Group to discuss the recent announcement of functionality being added to support Algos and Allocations over the API. FNG Exclusive Interview… In January FNG carried news that FX streaming aggregation service provider FXSpotStream was adding functionality to support FX Algos and Allocations over its API. While that might sound technical to…
FXSpotStream have further enhanced their sales team with the addition of Matthew Fic as SVP – Americas Head of Sales and the promotion of Antony Brocksom and Rhys Bryan internally. Matt is an FX industry veteran, with almost 17 years of experience in various roles; most recently as Head of Electronic FX Sales Americas at…
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 Allcoations. Click here to read the full article.
January 28, 2021 – JERSEY CITY, NJ – FXSpotStream (FSS) announces the upcoming addition of functionality to support FX Algos and Allocations over its API. FSS clients will have access to over 70 different Algos and 200+ parameters offered by the FSS Liquidity Providers (LPs). FX Allocations will allow clients on a pre- and/or post-trade…
