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Standard Chartered goes Live on FXSpotStream® as the 11th Liquidity Provider
August 27, 2015 JERSEY CITY, N.J. – FXSpotStream® LLC, a wholly owned subsidiary of LiquidityMatch LLC, today announced that Standard Chartered Bank is now live as a liquidity providing bank to FXSpotStream®’s aggregation service. Standard Chartered is the 11th bank available for trading to clients connected to FXSpotStream®’s API and GUI Service. The addition of Standard Chartered adds to the liquidity available from FXSpotStream®’s existing liquidity providers, which include BofA Merrill Lynch, BNP Paribas, Citi, Commerzbank AG, Credit Suisse, Goldman Sachs, HSBC, J.P. Morgan, Morgan Stanley and UBS.
Alan F. Schwarz, CEO, stated: “With Standard Chartered now live we have seen an almost doubling of our Liquidity Providers since we launched in 2011 and we are planning to add more before the end of the year. The addition of Standard Chartered as a Liquidity Provider places us in prime position to continue our rapid expansion globally and in the Asia-Pacific region and aligns well with Standard Chartered’s expanding footprint in EMEA and the Americas. The Service continues to go from strength-to-strength with the addition of new functionality earlier in the year and the launch of the new HTML GUI last month. Our commitment to bringing much needed innovation to the FX marketplace on both a transactional and technology level has resulted in continued growth with overall volume in July up 4% from June and a 59% increase year-on-year. And, last month we were honored to be recognized by the FX community with the FX Week 2015 “Best Professional e-Trading Venue” award in a category which included many well established venues.”
Chris Allington, Head of FX at Standard Chartered said:” We are extremely pleased to be live with FXSpotStream® just over 3 months after we signed to join the Service. Client demand globally for us to provide liquidity over FXSpotStream® has been strong. The ability to trade with our clients directly in a brokerage free model serves our interests in reducing the cost of execution so we can continue to improve pricing to our end clients.”
Mark Webster, Head of FX Sales at Standard Chartered said: “Adding FXSpotStream® into our suite of channels is a demonstration of Standard Chartered’s commitment to delivering Foreign Exchange to our clients at their preferred channel. We continue to respond and deliver the best FX solutions and products to ensure the best outcomes for our clients and us.”
Richard James, Head of FX Execution Services at J.P. Morgan, added “The growth of FXSpotStream®, through additional liquidity providers and impressive levels of client adoption across the globe, has established it as an important venue in the market. It is successfully focusing on delivering a cost effective means for us to transact with our clients in a fully disclosed, transparent manner.”
FXSpotStream® provides an award-winning, 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 Standard Chartered
We are a leading international banking group, with more than 90,000 employees and a 150-year history in some of the world’s most dynamic markets. We bank the people and companies driving investment, trade and the creation of wealth across Asia, Africa and the Middle East, where we earn around 90 per cent of our income and profits. Our heritage and values are expressed in our brand promise, Here for good.
Standard Chartered PLC is listed on the London and Hong Kong Stock Exchanges as well as the Bombay and National Stock Exchanges in India.
For more information please visit www.sc.com. Hear from Standard Chartered’s experts and comment on our blog at ourviews.sc.com. Follow Standard Chartered on Twitter, LinkedIn and Facebook
Alan F. Schwarz, CEO
tel: +1 201 217 8075
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