FXSpotStream LLC, the aggregator service of LiquidityMatch LLC, today announced its latest volumes for the month ending November 2017, which took a step forward, ultimately recording its second best figure for 2017, according to a company statement.
During the month of November 2017, FXSpotStream reported an average daily volume (ADV) of $22.06 billion, which represented a slight move lower over a yearly timeframe, as volumes incurred a fall of 1.0 percent year-on-year from $22.3 billion back in November 2016. However, the latest figures, which encompass all of the group’s streaming and matching products, constitute a jump of 10.9 percent in terms of volumes from October 2017.
Indeed, November’s volumes are lower 7 percent off from the company’s peak for this year which was recorded at $23.9 billion back in August 2017.
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FXSpotStream also saw a sizable increase across its total trading volumes in November 2017 after reporting $485.4 billion for the month, up 10.9 percent month-on-month from $437.7 billion back in October 2017.
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 buyside 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.