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 liquidity providing banks on FXSpotStream, which include: Bank of America, BNP Paribas, Citi, Commerzbank AG, Credit Suisse, Goldman Sachs, HSBC, J.P. Morgan, Morgan Stanley, MUFG, Standard Chartered, State Street and UBS as liquidity providers.
Alan F. Schwarz, FXSpotStream CEO commented: “In usual fashion, and despite the majority of our team working remotely, we were able to get Barclays up and running very quickly. This is a testament to the singular focus of our team when working on a given project, and the support and hard work from the Barclays global team.
The addition of Barclays to the Service continues to expand the offering by increasing the liquidity available to our clients. At the same time that our liquidity provider base increases, so does the volume supported by the Service. June was another volume growth month for us. In June we registered an ADV of USD43.287 billion – a 19.9% increase month on month versus May 2020 and our third highest monthly ADV ever. Our overall volume for June was USD952.3 billion.
2020 has also been a record-breaking year for FXSpotStream, with March bringing a new high in terms of monthly volume of USD1.372 trillion, and a daily record on March 9th of USD89.6 billion. The Service is averaging an 18.66% increase in ADV per month (Jan ’20 – Jun ’20) vs the same time period in 2019 and we expect these numbers to continue to rise.
As our pool of liquidity provider base grows, so does our list of clients using the Service, with an increase of 19% in the number of clients going live in Q1 2020 versus Q1 2019. Barclays bring with them a broad client network and we expect our client acquisition to continue to accelerate.
We are delighted to welcome Barclays to the FXSpotStream Service.”
Mauricio Sada-Paz, Global Head of eFICC Product & Distribution, said: “We are very pleased to partner with FXSpotStream. Their footprint will further advance our global client offering and ensure we continue to provide an exceptional trading experience. The consistent growth FXSpotStream have shown make them an ideal company to be pairing with at this time.”
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.