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MUFG joins as a Liquidity Provider
October 6, 2015 – JERSEY CITY, N.J. – FXSpotStream LLC, a wholly owned subsidiary of LiquidityMatch LLC, today announced that Bank of Tokyo-Mitsubishi UFJ (BTMU) has joined as a new liquidity providing bank to FXSpotStream’s clients. BTMU adds to the liquidity available from FXSpotStream’s existing liquidity providers, which include BofA Merrill Lynch, BNP Paribas, Citi, Commerzbank AG, Credit Suisse, Goldman Sachs, HSBC, J.P. Morgan, Morgan Stanley, Standard Chartered and UBS.
Alan F. Schwarz, CEO, stated: “With the addition of BTMU, the 3rd new Liquidity Provider this year, we have now doubled the original number of Liquidity Providers added to FXSpotStream since inception. The doubling of the number of liquidity providers in just over 3 years after the service went live confirms that market participants need a new, more efficient, less expensive way to transact with clients bilaterally. In fact, 2015 is turning into a record year with our business rapidly expanding in all regions with overall volumes up 8.5% in September over August and 46% year to date through September versus the same period last year. Client acquisition also remains strong across all regions with client growth up 50% in September year on year. The addition of BTMU, the largest bank in Japan (by market value), will accelerate our growth in client numbers and trading volume in Tokyo, the Asia-Pacific region and globally as BTMU provides a diverse addition to the liquidity pool we can offer clients. We expect to take BTMU live in late Q4.”
Hirochika Iwadare General Manger of Global Markets Trading Division said: “BTMU is pleased to be joining FXSpotStream as a Liquidity Provider. We look forward to offering our clients an additional venue to transact with Bank of Tokyo-Mitsubishi UFJ.”
FXSpotStream provides a multibank FX aggregation service to clients to execute FX Spot, Forwards and Swaps and Spot Precious Metals trades. Banks connected to FXSpotStream serve as Liquidity Providers to clients. FXSpotStream functions as a market utility, providing the infrastructure to facilitate multibank trades from clients to Liquidity Providers. Clients access a GUI or single API from co-location sites in New York, London and Tokyo and have the potential to communicate with all Liquidity Providing banks connected to the FXSpotStream. FXSpotStream does not charge brokerage fees to clients or banks.
About Bank of Tokyo-Mitsubishi UFJ
The Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU) is one of Mitsubishi UFJ Financial Group (MUFG) five primary operating companies and Japan’s largest bank by market value.
Mitsubishi UFJ Financial Group (MUFG) is one of the world’s largest and most diversified financial groups with total assets of JPY258.1 trillion as of March 2014. MUFG’s services include commercial banking, trust banking, securities, credit cards, consumer finance, asset management, leasing and many more fields of financial services.
Alan F. Schwarz, CEO
tel: +1 201 217 8075
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