June 23, 2021 – JERSEY CITY, NJ – FXSpotStream (FSS) has added functionality to support FX Algos and Allocations over its API and expects to have its first clients live in early Q3. FSS clients will have access to over 70 different Algos and 200+ parameters offered by the FSS Liquidity Providers (LPs). FX Allocations allows clients, on a pre- and/or post-trade basis, to send and allocate orders from multiple accounts at the same time. Work to support FX Algos and Allocations over the GUI is underway, and this is expected to be live in Q1.
Alan F. Schwarz, FXSpotStream Co-founder and CEO commented: “We are extremely excited to be live with our Algos and Allocations API offering. The team has done a tremendous job getting the offering live on schedule despite some challenging conditions related to the global pandemic.
The feedback since we announced the addition of support for FX Algos and Allocations has been resoundingly positive. We are committed to delivering more solutions that satisfy the needs of our LPs and of our mutual clients. The addition of FX Algos and Allocations will be an invaluable tool for the Asset Management and Hedge Fund community as well as others that currently access our Service.
Clients currently do not pay a fee of any kind to FSS to access the liquidity streamed over the Service by the 15 FSS LPs. Similarly, clients will not pay a fee to FSS to access any of the LP Algos or to access pre- and/or post-trade Allocations functionality available over the Service. Any fee an LP may charge for access to their Algos or Allocations functionality will be handled directly with the LP.
We came into this new product launch with a great deal of momentum from our core business. After another record year in 2020, the growth in our business has continued. Our ADV for 2021 (Jan-May) is USD49.959billion, a 14.97% increase when compared to the same period of 2020. March ‘21 registered as the second highest ADV in the company’s history at USD54.674billion and April saw volumes cross the USD1trillion mark for the second consecutive month. To give some perspective to the growth in our volumes this year, 2020 was a very strong year with overall volumes up 18.52% versus 2019. We set new highs in terms of ADV (USD62.378 billion), overall volume (USD1.372trillion) and Daily Volume (USD89.6billion) in March 2020 and crossed the USD11 trillion mark for the first time in the company’s history.
In May, FSS crossed the USD50trillion mark in overall volume supported since the company went live.”
About FXSpotStream LLC
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 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. FXSpotStream’s 15 LPs include 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.
Aaron Krepel, Marketing Associate