FXSpotStream®‘s Expands with Addition of FX Forwards and Swaps

FXSPOTSTREAM®‘S PRICE AGGREGATION SERVICE EXPANDS WITH THE ADDITION OF FX FORWARDS AND SWAPS. AUGUST ADV SURPASSES PRIOR JUNE RECORD BY 28% AND GROWS 274% YEAR ON YEAR 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 FX Forward and Swap price streams from its sites in New York, London and Tokyo. FXSpotStream®‘s liquidity providers, which include BofA Merrill Lynch, BNP Paribas Citi, Commerzbank AG, Goldman Sachs, HSBC, J.P. Morgan, Morgan Stanley and UBS, are now able to seamlessly stream Spot, Forward and FX Swap and Spot Precious Metals prices using the existing connection. Alan F. Schwarz, CEO, stated: “As we approach the 3 year anniversary of our business we are extremely pleased with the continued growth of the Service. The addition of FX Forwards and Swaps, together with RFS functionality, is a natural extension to the existing Spot FX and Precious Metals price streaming offering. At the same time, we have remained intently focused on supporting our liquidity providers and clients. As a result, we have seen the volume supported by the Service continue to increase at a rapid pace. August was yet another ADV record for FXSpotStream® exceeding the prior ADV record set in June by 28%. Year on year August ADV increased by 274% with August ADV surpassing ADV in July by 33% supported by an 88% year on year increase in clients in August. BNP Paribas is also now live globally and trading with clients. The utility model underlying the business and the alignment of our cost structure with the need by our liquidity providers and clients to reduce the significant fees incurred in transacting with each other is meeting its objectives. As we look ahead, 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 FX Spot, Forward and Swap and Spot 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. Liam Hudson, BofA Merrill Lynch’s Managing Director and Global Head of FX Ecommerce Trading, said “BofA Merrill Lynch has been involved with FXSpotStream® from its inception and we continue to be impressed by how quickly the Service has grown with the addition of new liquidity providers, clients and functionality. Take up among our own clients has been extremely fast and we now have clients trading in all regions. The no brokerage fee model combined with a transparent and fully disclosed trading environment works well for us and our clients.” “We are delighted with the company’s growth, stability and reliability as it supports a growing number of liquidity providers and clients transacting more volume over the Service,” added Paul Scott, Global Head of eFX at Commerzbank Corporates & Markets. “The increased volume supported by the Service has exceeded our short term expectations. The addition of FX Forwards and Swaps to the existing product range will provide us and our clients with further opportunities to benefit from the Service.”

More Posts from FXSpotStream®

Algo Strategies: The time to be aggressive and the impact on your execution/the market

May 11, 2022

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…

Algo Customization: Strategies and Parameters to help you get the desired execution

April 28, 2022

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…

Algo Types: Accessing Spot Contingent Forwards and NDF Algos

April 14, 2022

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…

March Volumes: Another All-Time ADV and Monthly Record High

April 4, 2022

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.…

Algo Execution: Internal vs External liquidity pools, pros and cons

April 4, 2022

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…

February Volumes: All-Time ADV Record High

March 2, 2022

In February 2022, FXSpotStream registered a new high in terms of supported volume with an ADV of USD63.135bn. This represented a 19.15% increase MoM (compared to Jan ’22) and a 27.3% increase YoY (vs Feb ’21). The previous ADV high was in March 2020 as volatility around the Covid-19 pandemic reached its peak. Furthermore, February…

2021: A Year In Review

January 10, 2022

In 2021, FXSpotStream registered an ADV of USD48.397billion, an increase of 13.48% YoY vs. 2020 as we continue to gain market share. FXSpotStream reported positive YoY growth each month in 2021, with the exception of one. This growth was driven by positive YoY growth in all products, notably a 26.94% increase in Swaps ADV and…

J-Money Announce FXSpotStream as Best FX Platform For Fifth Consecutive Year

October 7, 2021

FXSpotStream has been voted Best Margin FX ECN/Multi bank platform in the J-Money Survey for the 5th 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…

New Microsecond Low-Latency Architecture Announced

October 6, 2021

October 6, 2021 – JERSEY CITY, NJ – FXSpotStream (FSS) announces the deployment of a new low-latency architecture. The new architecture, which will be deployed globally, will deliver substantial improvements to the Service’s market data processing times. The project is already underway in the New York site and will involve a full overhaul of the…

The Full FX Unfiltered with FXSpotStream

September 28, 2021

Colin Lambert talks with Alan Schwarz, CEO, and Tom San Pietro, CTO, of FXSpotStream about the platform’s recent addition of algos. The three discuss the thinking behind the launch; the challenges of delivering multiple algos, from multiple providers, via an API; and the opportunity set for FXSpotStream and its clients on the buy and sell…

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