Societe Generale Joins FXSpotStream as the 15th Liquidity Provider

FXSPOTSTREAM ADDS SOCIETE GENERALE AS THE 15th LIQUIDITY PROVIDER AS FXSPOTSTREAM HITS NEW VOLUME HIGHS IN Q1

May 21, 2020 – JERSEY CITY, N.J. – FXSpotStream LLC, a wholly owned subsidiary of LiquidityMatch LLC, today announced that Societe Generale has joined as a liquidity providing bank to FXSpotStream’s price streaming Service. Societe Generale is the 15th bank available to clients connected to FXSpotStream’s Service and the 2nd new liquidity provider added this year. The addition of Societe Generale adds to the liquidity available from FXSpotStream’s existing liquidity providers, which include Barclays, BofA, BNP Paribas, Citi, Commerzbank AG, Credit Suisse, Goldman Sachs, HSBC, J.P. Morgan, Morgan Stanley, MUFG, Standard Chartered, State Street and UBS.

Alan F. Schwarz, FXSpotStream CEO, stated: “After announcing the addition of Barclays last quarter, we continue the momentum and are pleased to welcome Societe Generale as the 15th liquidity provider on our Service. The addition of Societe Generale complements the liquidity our clients are able to access from the top global FX banks. We expect to have Societe Generale live globally before the end of Q2.

In addition to adding more banks to the Service, we continue to significantly grow the volumes supported by the Service. In Q1 we remained the fastest growing eFX channel, continuing the run of fastest growing service since January 2018. Q1 2020 ADV was USD49.121 billion, a 33% increase when compared to the same period in Q1 2019. This year in March we also set all new volume records. We recorded a new ADV high in March of USD62.4 billion, beating February’s prior ADV high of USD47.84 billion. For the first time since the Service was founded in 2011, we crossed the USD1 trillion mark in a single month, with March recording a new monthly volume high of USD1.372 trillion. We also set a new daily record on March 9th at USD89.6 billion.

Given the significant uptick in our March volumes, we were also pleased that the Service was up 100% of the time during an extremely volatile period. Order volume in March versus January increased 100%. Message updates per second during the same period increased 300%. When our clients and banks needed us the most, we were available 24/5 with no interruptions to the Service.

Our client growth and product offering also continues to expand. The number of clients that went live in Q1 2020 increased 19% when compared to Q1 2019. On the product side, the NDF and Forwards volume also continues to experience significant growth. After a 170% and 1100% increase, respectively, in 2019 versus the prior year, in Q1 of this year versus Q1 2019 our NDF volume increased 87% with our Forwards volume increasing 194%. Precious metals volume Q1 2020 versus Q1 2019 has also grown 176%.”

Alex DEWHURST, Global Head of FX Sales at Societe Generale said “Having witnessed FXSpotStream’s impressive growth over the years, we are delighted to be joining the Service as their latest liquidity provider. This will increase our global footprint and allow us to promote even further our expertise in Emerging Europe, Africa and Asia NDFs markets, by delivering a cost-effective transparent solution to our clients.”

About FXSpotStream

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 have the ability to communicate with all Liquidity Providing banks connected to FXSpotStream. FXSpotStream has revolutionized the FX trading landscape by eliminating the cost of execution for price takers and allowing price makers the ability to pay a flat fee for providing prices to their clients. We are the only venue on the market today with this unique commercial model.

More Posts from FXSpotStream®

Award Winning Streak Continues For FXSpotStream

October 9, 2020

FXSpotStream was honored as the “Best Liquidity Solution” in the 2020 World Finance Forex Awards. Since 2007, World Finance has been celebrating achievement, innovation and brilliance in their annual awards. The judging panel expressed a particular interest in how FXSpotStream faced the restrictions produced by COVID-19, highlighting the company’s tendency to overprepare. In the submission,…

FXSpotStream Announces Improvements To Decay Analysis Report

August 26, 2020

FXSpotStream are adding a valuable piece to their analytics catalog with the recent improvements to their Decay Analysis Report. Available to clients using the price-streaming Service, the report provides valuable, near real-time data to aid decision making. In recent years the FX market has seen a seismic shift, from primarily manual and subjective decision-making processes,…

Rhys Bryan and Hajime Tezuka Join Sales Team

August 20, 2020

For FXSpotStream, the value proposition is a unique and compelling one. There is no haggling on price as the Service is free to clients. There are no volume discounts, no introductory rates – there is no cost at all to takers. When speaking with FXSpotStream, it is not about the dollars and cents, and all…

Societe Generale Goes Live as the 15th Liquidity Provider on FXSpotSream’s Price Streaming Service

July 28, 2020

July 28, 2020 – JERSEY CITY, NJ – In May 2020, FXSpotStream LLC, a wholly owned subsidiary of LiquidityMatch LLC, announced Societe Generale as the 15th liquidity providing bank to join its Service. Today FXSpotStream is pleased to announce that Societe Generale has now gone live and is trading with clients via its price streaming…

e-Forex: FXSpotStream’s Extraordinary Growth Story Continues

July 27, 2020

e-Forex spoke with Alan F. Schwarz, FXSpotStream’s CEO, to hear about how the fully disclosed supported model continues to perform so well. The increase in non-spot trading on FXSpotStream is a real growth story for you. Why is that and where is the interest focused? Actually, all of our supported products continue to show robust…

Barclays Now In Production Trading Via Fxspotstream, As The Service Reaches Third Highest Adv In June

July 23, 2020

July 23, 2020 – JERSEY CITY, NJ – In Q1 2020, FXSpotStream LLC, a wholly owned subsidiary of LiquidityMatch LLC, announced Barclays as the 14th liquidity providing bank to join their Service. Today FXSpotStream is pleased to announce that Barclays’ liquidity is now available to clients in production via the FXSpotStream Service. Barclays joins the existing…

Best Execution: Record volumes with orderly trading

July 16, 2020

Alan Schwarz, co-founder, CEO & Board Member at LiquidityMatch & FXSpotStream tells Best Execution how firms can find consistent, reliable access to FX liquidity, even in the Covid-19 trading environment. Read the full article here.

Rich Kaltenbach Joins Team As General Counsel

July 8, 2020

In the world of FX trading, seconds can make a huge difference. FXSpotStream have taken another step in refining their trading experience for both clients and LP’s with the appointment of Richard Kaltenbach as General Counsel. FXSpotStream CEO, Alan Schwarz commented, “Having an internal counsel will allow us to expedite legal reviews, providing a faster,…

FXSpotStream Shortlisted in HFM European Technology Awards

July 7, 2020

FX SpotStream has been shortlisted for an award in the ‘Most Disruptive Technology Solution’ category of HFM’s European Technology Awards. The nomination comes after record-breaking months in terms of volume for the company. The HFM European Technology Awards 2020 give recognition to IT, software vendors and service providers in the hedge fund industry that have…

FXSpotStream Wins Double at TradingTech Insight Awards USA

July 6, 2020

With the current climate and health risks involved, award ceremonies have changed beyond recognition. The work involved in winning such an award, however, has seen no change. FXSpotStream CEO, Alan Schwarz, stood proudly alongside the Hudson River holding the two awards won by the company in the 2020 TradingTech Insight Awards USA. FXSpotStream was victorious…

Ready to expand your FX trading to multiple banks with a single API or GUI?

Click the button and get started.