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FXSpotStream Volumes Continue to Climb, May’s ADV Second Highest on Record

by Aziz Abdel-Qader
  • May’s volumes are lower 2.8 percent than the ‎company’s record peak ‎of $28.8 billion in February 2018‎.
FXSpotStream Volumes Continue to Climb, May’s ADV Second Highest on Record
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FXSpotStream LLC, the aggregator service of LiquidityMatch LLC, built on ‎its robust performance in 2018, with trading volumes setting the second ‎highest ever on record in May.‎

During May 2018, FXSpotStream reported an average daily ‎volume (ADV) of $28.06 billion, which represented a jump of 14 ‎percent month-on-month from $24.6 billion reported back in April 2018. ‎Across a yearly interval, the ADV metric in May 2018 reflected an advance ‎of more than 60 percent.‎

Indeed, May’s volumes are lower 2.8 percent off from the ‎company’s record peak which was recorded at $28.8 billion ‎back in February 2018.‎

FXSpotStream got off to a strong month as the financial markets started off May in high gear, with a multitude of factors helping steer ‎volumes across several venues.‎

May 2018 saw a total of 23 trading days, compared to 21 days in the month ‎prior. In terms of total volumes at FXSpotStream, May 2018 showed $645.4 ‎billion, which was higher by 25 percent month-on-month from $515.6 ‎billion in ‎April 2018.‎

Unique, established business model

FXSpotStream is a wholly owned subsidiary of LiquidityMatch LLC and was ‎created as a ‎cost-effective platform, which is offered on a commission-free ‎model for buy-side firms to ‎tap pricing from banks using a multi-dealer ‎aggregating platform.‎

The group started the ‎streaming aggregation business in 2011 with just a ‎spot FX API and 6 Liquidity providers, but now ‎utilizes liquidity from a total of ‎‎13 leading global banks – BofA Merrill Lynch, ‎Bank of Tokyo-Mitsubishi ‎UFJ, BNP Paribas, Citi, Commerzbank AG, Credit Suisse, ‎Goldman Sachs, ‎HSBC, J.P. Morgan, Morgan Stanley, Standard Chartered, UBS and State ‎Street.‎

FXSpotStream’s offering is a client to bank platform, with each liquidity taker ‎required to ‎create individual credit relationships with participating banks.‎ ‎This differs from other multi-dealer platforms such as FX ECNs like Hotspot ‎and ‎EBS Markets that operate with centralized order book systems for their ‎participants.‎

FXSpotStream LLC, the aggregator service of LiquidityMatch LLC, built on ‎its robust performance in 2018, with trading volumes setting the second ‎highest ever on record in May.‎

During May 2018, FXSpotStream reported an average daily ‎volume (ADV) of $28.06 billion, which represented a jump of 14 ‎percent month-on-month from $24.6 billion reported back in April 2018. ‎Across a yearly interval, the ADV metric in May 2018 reflected an advance ‎of more than 60 percent.‎

Indeed, May’s volumes are lower 2.8 percent off from the ‎company’s record peak which was recorded at $28.8 billion ‎back in February 2018.‎

FXSpotStream got off to a strong month as the financial markets started off May in high gear, with a multitude of factors helping steer ‎volumes across several venues.‎

May 2018 saw a total of 23 trading days, compared to 21 days in the month ‎prior. In terms of total volumes at FXSpotStream, May 2018 showed $645.4 ‎billion, which was higher by 25 percent month-on-month from $515.6 ‎billion in ‎April 2018.‎

Unique, established business model

FXSpotStream is a wholly owned subsidiary of LiquidityMatch LLC and was ‎created as a ‎cost-effective platform, which is offered on a commission-free ‎model for buy-side firms to ‎tap pricing from banks using a multi-dealer ‎aggregating platform.‎

The group started the ‎streaming aggregation business in 2011 with just a ‎spot FX API and 6 Liquidity providers, but now ‎utilizes liquidity from a total of ‎‎13 leading global banks – BofA Merrill Lynch, ‎Bank of Tokyo-Mitsubishi ‎UFJ, BNP Paribas, Citi, Commerzbank AG, Credit Suisse, ‎Goldman Sachs, ‎HSBC, J.P. Morgan, Morgan Stanley, Standard Chartered, UBS and State ‎Street.‎

FXSpotStream’s offering is a client to bank platform, with each liquidity taker ‎required to ‎create individual credit relationships with participating banks.‎ ‎This differs from other multi-dealer platforms such as FX ECNs like Hotspot ‎and ‎EBS Markets that operate with centralized order book systems for their ‎participants.‎

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