FXSpotStream Adds Barclays Liquidity for Production Clients

The aggregator partnered with the banking giant in February.

FXSpotStream, an aggregator of LiquidityMatch and an institutional platform in the FX market, announced on Thursday that it has added liquidity from Barclays for its clients in production.

The company first unveiled its partnership with Barclays last February as the British bank became its 14th client. Other leading liquidity providing platforms on FXSpotStream Services are 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. The most recent addition to this group was Societe Generale.

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“In usual fashion, and despite the majority of our team working remotely, we were able to get Barclays up and running very quickly,” FXSpotStream CEO Alan F. Schwarz stated on the development. “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.”

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Volumes are hitting record highs

FXSpotStream started offering streaming aggregation business in 2011 as a ‎cost-effective platform, offering on a commission-free model for buy-side firms to ‎tap pricing from banks using a multi-dealer aggregating platform.

The integration of Barclays was prompted as the platform is witnessing record volumes with the increased market volatility. FXSpotStream averaged a daily volume of daily volume (ADV) of $43.2 billion last month, a 20 percent month-on-month jump. The volume on the platform peaked in March with a monthly volume of $1.372 trillion.

The platform also onboard 19 percent more clients in the first quarter of this year, compared to the number in the same quarter of the previous year.

“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,” Mauricio Sada-Paz, global head of eFICC product & distribution, said.

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