July 24, 2018 – JERSEY CITY, N.J. – FXSpotStream LLC, a wholly owned subsidiary of LiquidityMatch LLC, today announced that for the first half of 2018 volumes on its Service grew at the fastest rate of all reporting eFX cash venues.
Alan F. Schwarz, CEO of FXSpotStream, stated: “Our Average Daily Volume (ADV) was up 49% in the first 6 months of 2018 versus the same period in 2017. During the first half of 2018 we supported a total of USD3.56 trillion reflecting an increase in overall volume of USD1.15 trillion when compared to the first half of 2017.
In June we also crossed the USD30 billion ADV mark for the first time hitting an ADV high of USD30.4 billion. Our ADV in June was up 8.2% month-on-month and 49.5% year-on-year – the largest percentage increase of any cash venue reporting volumes.
Our model has remained simple, clear and compelling – provide a transparent, fully disclosed service at no cost to our liquidity consumers while charging our liquidity providers a flat quarterly fee irrespective of volume transacted. As a result, since we formed the company in 2011 we have grown the business on all fronts by adding liquidity providers, increasing products supported, enhancing functionality and adding staff to provide the highest level of support in the industry. We started in 2011 with 6 banks and today we have 13 liquidity providers, which include BofA Merrill Lynch, BTMU, BNP Paribas, Citi, Commerzbank AG, Credit Suisse, Goldman Sachs, HSBC, J.P. Morgan, Morgan Stanley, Standard Chartered, State Street and UBS. Clients can connect globally across 3 sites in New York, London and Tokyo and trade FX spot, swaps, forwards, NDFs/NDS and Precious Metals spot and swaps via one API connection or on a single front end. We have a full support and commercial staff in our offices in New Jersey, London and Tokyo operating a 24/5 service.”
FXSpotStream is a bank owned consortium founded in 2011 and operates as a market utility. FXSpotStream provides multibank FX streaming, RFS and matching services supporting trading in FX Spot, Forwards, Swaps, NDF/NDS and Precious Metals Spot and Swaps. Banks connected to FXSpotStream serve as Liquidity Providers to clients. Clients can access a GUI or single API from co-location sites in New York, London and Tokyo and can communicate with all Liquidity Providing banks connected to FXSpotStream. FXSpotStream has revolutionized the FX trading platform landscape by eliminating the cost of execution for price takers and allowing price makers the ability to pay a flat fee for all executed transactions. We are the only venue on the market today with this unique commercial model.