FXSpotStream®‘s Spot FX Price Aggregation Service Adds Spot Precious Metals

FXSPOTSTREAM®‘S SPOT FX PRICE AGGREGATION SERVICE CONTINUES TO EXPAND WITH THE ADDITION OF SPOT PRECIOUS METALS JERSEY CITY, N.J. – FXSpotStream® LLC, a wholly owned subsidiary of LiquidityMatch LLC, today announced the continued expansion of its Service with the addition of Spot Precious Metals price streams and the commencement of client and bank production trading. FXSpotStream®‘s liquidity providers, which include BofA Merrill Lynch, Citi, Commerzbank AG, Goldman Sachs, HSBC, J.P. Morgan, Morgan Stanley and UBS, are now able to seamlessly stream Spot FX and Spot Precious Metals prices using the same existing connection. Alan F. Schwarz, CEO, stated: “As we approach the two year anniversary of the company’s formation we have seen the business mature from its original Spot FX API offering with the additions of a desktop application/GUI this past summer and now the streaming of Spot Precious Metals prices to compliment Spot FX. In parallel we expanded the original liquidity provider base and currently have 8 of the leading banks in the market providing liquidity to our clients. The result has been a continuous growth in clients globally and volumes supported by the Service, which hit an all-time record in October. The utility model underlying the business is meeting its objectives and we expect to continue to expand the offering with the addition of products, functionality and liquidity providers.” FXSpotStream® provides a multibank FX aggregation service to clients for the purpose of executing Spot FX and Precious Metals trades. Banks connected to FXSpotStream® serve as liquidity providers to clients. FXSpotStream® functions as a market utility, providing the infrastructure that facilitates the GUI and multibank API routing mechanism to route trades from clients to liquidity providers. Clients access a GUI or 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. Alex Maillard, Global Head of eFX Distribution at UBS, said “FXSpotStream®’s progress since going live is impressive and it has quickly become one of the tools we rely on to trade with our clients in a fully disclosed bilateral manner. Our clients were requesting streaming of Spot Precious Metals prices via the same Spot FX GUI and API and with no brokerage charge. FXSpotStream® once again quickly delivered a solution to the liquidity providers and our clients.” “We are pleased with the company’s ability to quickly enhance the Service for the commodities market, added Eddie Wen, Managing Director at J.P.Morgan. The inclusion of Spot Precious Metals pricing on FXSpotStream® is a welcome addition to the original FX offering and we expect to continue to grow the number of clients we trade with over the price streams available on the Service as a result.” “Since partnering with FXSpotStream® over one year ago, we have been pleased with the Service’s ability to connect us as liquidity providers to our clients in the FX Spot market, said Giovanni Pillitteri, Managing Director, Global Head of FX Electronic Trading. The addition of Spot Precious Metals is a valuable compliment to the existing offering that addresses our clients’ needs and supports Morgan Stanley’s commitment to provide a superior level of service and electronic liquidity in Precious Metals.”

 

More Posts from FXSpotStream®

e-Forex Interview: A remarkable growth story

July 26, 2021

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.

FXSpotStream Goes Live With Algos And Allocations Functionality Over Its API

June 23, 2021

  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 Passes USD50Trillion

May 10, 2021

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 Voted ‘Best FX Trading Platform’ at Markets Choice Awards

May 5, 2021

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…

FXSpotStream post second-highest ADV on record

April 8, 2021

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…

FX Algo News: FXSpotStream to start supporting FX algo strategies and allocations

March 15, 2021

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

Interview with Gerald Segal, FX News Group

March 5, 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 Announce Addition of Matthew Fic to Sales Team

February 25, 2021

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…

e-Forex: FXSpotStream to add support for FX Algos & Allocations

February 5, 2021

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.

FXSpotStream To Add Algos And Allocations Functionality Over Its API

January 28, 2021

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…

Ready to expand your FX and Precious Metals to multiple banks with a single API or GUI?