A Letter From The CEO
Dear Valued Clients, LPs and Vendor Partners,
Nine years ago, with the support of our founding banks, we set out to provide a more efficient, less expensive, more transparent way to allow our original six liquidity providing banks to interact directly with their clients and vice versa. One API in NY/LDN/TY, no fees for clients and a fixed fee for our LPs.
Fast forward to today and we are one of the fastest growing FX channels in the industry. Since our formation exactly 9 years ago we have added 9 more LPs, taking our total to 15, including: Bank of America, Barclays, BNP Paribas, Citi, Commerzbank, Credit Suisse, Goldman Sachs, HSBC, J.P. Morgan, Morgan Stanley, MUFG, Societe Generale, Standard Chartered, State Street and UBS. We have expanded the offering from a spot FX API to now include support for FX Spot, Swaps, Forwards, NDF/NDS and Precious Metals Spot and Swaps. We have added a GUI, a robust analytics tool – FX|Insights – and many order types and additional functionality. We have grown our client base around the world and now have staff in the US, the UK and Japan. And this year we broke another record crossing the USD10 Trillion mark in terms of volume supported on the Service – the most volume ever supported in any one year.
Despite our growth, I still view ourselves as a “start-up” and that’s how we run our business every day. We are about identifying an issue and finding solutions. Our team is about getting things done and moving the ball forward. And it’s because we have a great team that is aligned with the core principles of our company that we continue to grow every year.
In addition to working hard every day, I have always been keen to emphasize to the team the importance of customer support – ensuring that our clients, banks and vendor partners always hear from us when there’s an issue and that we address issues when they happen. We are a technology company and we will have issues from time to time. But the key is that we acknowledge when there’s an issue and we fix it. When a client has a need we address it. We have grown on all fronts in 9 years, but I am extremely proud of the fact that we have not forgotten our roots and we have maintained the top-level support that we are recognized for.
To those that have joined us along the way, we say thank you. Your loyalty and support have been instrumental in getting us to this point and will continue to drive us forward in the future. For those that we are yet to meet, we look forward to the opportunity to serve you and your business. Feel free to drop us a line at email@example.com if we can help.
Looking forward, we are very excited to have a large functionality announcement coming in Q1 next year that will see us continue to expand our offering to the FX market. Stay tuned!
Last, we take this opportunity to reflect on how fortunate we are to be able to continue doing what we do. It is a testament to our team that despite incredibly challenging times our business has continued to grow this year and we’ve had no interruptions to the Service. The FX market has seen its share of turbulence over the years and always comes out stronger. We are confident that the market and the many good people in the market will turn the corner in 2021. We won’t forget 2020, but we look forward to a return to a more normal world next year.
Best to all during the holiday season.
Alan F. Schwarz,
Co-Founder, CEO FXSpotStream and the FXSpotStream Team