UBS GOES LIVE GLOBALLY ON FXSPOTSTREAM® AS THE 8th LIQUIDITY PROVIDER AND COMMENCES CLIENT TRADING
JERSEY CITY, N.J. – FXSpotStream® LLC, a wholly owned subsidiary of LiquidityMatch LLC, today announced that UBS is now live as a liquidity provider bank to FXSpotStream®’s price aggregation service from FXSpotStream®’s sites in New York, London and Tokyo and client trading with UBS via the service has commenced. UBS is the 8th bank available to clients connected to FXSpotStream®’s service. 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: “FXSpotStream® has deployed a resilient global infrastructure and solution that allows us to on board liquidity providers and clients rapidly and in a very efficient manner. As a result, and with the technology supported by smartTrade Technologies, we were able to take UBS live globally less than 2 months after UBS signed up to become a liquidity provider to FXSpotStream®’s clients and client trading over the service with UBS is underway. Since we launched in late 2011 we have remained focused on growing the number of liquidity providers and clients on FXSpotStream® and enhancing the offering by adding client driven functionality, which will include a GUI planned to be in production later this quarter.”
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 at UBS, added “We have been impressed with the service delivery from FXSpotStream®. Not only are we live globally streaming prices but client trading via FXSpotStream® has already started. The FXSpotStream® service has been well received by our client base and we look forward to realizing the cost savings that will allow us to improve the pricing we ultimately show on to our clients.”
“FXSpotStream®’s progress remains on track and the company has accomplished a great deal in a very short period of time,” said Fergal Walsh, Head of FX eTrading at Citi. “The quick on boarding of UBS is consistent with the experience we and our clients have seen from the service, which allows us to transact with our clients on a bilateral, fully disclosed and cost effective basis.”
More Posts from FXSpotStream®
Our Summer Internships have opened the door for many students to gain valuable firsthand experience in to FX and the financial market. We are delighted to announce that we will once again be offering Summer Internship opportunities in each of our offices (New Jersey, London and Tokyo). The ten week placements allow students, currently enrolled…
With offices in New York, London and Tokyo, FXSpotStream operates global sales, onboarding and support teams. With offices in many countries, FXSpotStream CEO, Alan Schwarz, believes that having one global culture is key to having a successful team that provides a seamless experience for its banks and clients who use the service. To foster the…
FXSpotStream CEO, Alan Schwarz was featured in this month’s issue of FXAlgoNews. The publication covers all advances in the FX Algo world, and is a great source for news and dsicussion topics. See the links below for our interview, as well as Alan’s input on the Industry Views article.
FXSpotStream has been voted Best Margin FX ECN/Multi bank platform in the J-Money Survey for the 6th 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…
FXSpotStream registered a NEW RECORD ADV HIGH in September surpassing the ADV record set in March of this year. September’s ADV of USD73.351billion is a 20.45% increase MoM over August’s ADV of USD60.898billion and completes what has been the highest volume quarter in the company’s history. In Q3 2022, FXSpotStream supported USD4.359trillion, with a Q3…
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…
