FXSpotStream Reports Slight Rebound in May Volumes

FXSpotStream reported an average daily volume of $36.1 billion in May, up by 6.3% MoM from $34 billion in April.

Activity on FXSpotStream’s trading venue has increased from a month earlier, though it still disappoints when compared to the 2020 peak it hit in March when the aggregator service of LiquidityMatch LLC reported a record $1.37 trillion in total volumes.

FXSpotStream reported an average daily volume (ADV) of $36.1 billion in May, up by 6.3 percent over a monthly basis from $34 billion in April 2020. This figure also reflects a slight year-on-year advance by 3.50 percent compared with its counterpart from May 2019.

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FXSpotStream May’s ADV was 14.06% greater than CBOE HotSpot’s ADV of 31.365 billion.

May 2020 saw a total of 21 trading days, compared to 22 days in the month prior. In terms of total volumes at FXSpotStream, the last month showed $758 billion, which was marginally higher month-on-month from $747 ‎billion in April 2020.

This number is almost half that of March 2020 when FXSpotStream crossed the $1 trillion milestone for the first time in the group’s nine-year history.

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FXSpotStream expands panel

FXSpotStream has recently added Societe Generale as the 15th bank available to clients connected to its price aggregation service.

Societe Generale’s e-FX franchise joins to the existing panel of global banks providing liquidity to FXSS’s clients, which include Barclays, BofA Merrill Lynch, MUFG Bank, BNP Paribas, Citi, Commerzbank AG, Credit Suisse, Goldman Sachs, HSBC, J.P. Morgan, Morgan Stanley, Standard Chartered, State Street, and UBS.

FXSpotStream provides a multibank FX aggregation service for spot FX trading. The platform operates as a bank-owned consortium that provides the infrastructure to facilitate the route of trades from clients to liquidity providers.

The group started the ‎streaming aggregation business in 2011 with just a spot FX API and six liquidity providers but now ‎utilizes liquidity from a total of fourteen leading global banks.

Meanwhile, 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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