Credit Suisse Goes Live Globally on FXSpotStream as the 10th Liquidity Provider and Commences Client Trading
CREDIT SUISSE GOES LIVE GLOBALLY ON FXSPOTSTREAM AS THE 10TH LIQUIDITY PROVIDER AND COMMENCES CLIENT TRADING
April 22, 2015, JERSEY CITY, N.J. – FXSpotStream LLC, a wholly owned subsidiary of LiquidityMatch LLC, today announced that Credit Suisse is now live as a liquidity providing bank to FXSpotStream’s price aggregation service from FXSpotStream’s sites in New York, London and Tokyo. Client trading with Credit Suisse via the service has commenced. Credit Suisse is the 10th bank available to clients connected to FXSpotStream’s service. The addition of Credit Suisse adds to the liquidity available from FXSpotStream’s existing liquidity providers, which include BofA Merrill Lynch, BNP Paribas, Citi, Commerzbank AG, Goldman Sachs, HSBC, J.P. Morgan, Morgan Stanley and UBS.
Alan F. Schwarz, CEO, stated: “From the first day we formed the company in 2011, we were determined to grow the number of leading FX liquidity providing banks available to our clients. With the addition of Credit Suisse, we are nearing a doubling of the global FX banks on the service since we went live and more liquidity providers are planned to be added this year. The growth in liquidity providers and the 310% volume increase Year-on-Year (2014 vs 2013) is the direct result of our unmatched business model. FXSpotStream is leading the FX industry in offering a high quality, transparent, low cost venue for market participants to transact in a fully disclosed bilateral manner. Today, our clients and banks have to run their businesses with careful attention to the cost of trading and our unique, no brokerage fee approach satisfies their need.”
FXSpotStream provides a multibank FX aggregation service to clients to execute FX Spot, Forwards and Swaps and Spot Precious Metals trades. Banks connected to FXSpotStream serve as Liquidity Providers to clients. FXSpotStream functions as a market utility, providing the infrastructure to facilitate multibank 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. FXSpotStream does not charge brokerage fees to clients or banks.
About Credit Suisse Group AG
Credit Suisse AG is one of the world’s leading financial services providers and is part of the Credit Suisse group of companies (referred to here as ‘Credit Suisse’). As an integrated bank, Credit Suisse offers clients its combined expertise in the areas of private banking, investment banking and asset management. Credit Suisse provides advisory services, comprehensive solutions and innovative products to companies, institutional clients and high-net-worth private clients globally, as well as to retail clients in Switzerland. Credit Suisse is headquartered in Zurich and operates in over 50 countries worldwide. The group employs approximately 45,800 people. The registered shares (CSGN) of Credit Suisse’s parent company, Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.
Alan F. Schwarz, CEO
tel: +1 201 217 8075