FXSpotStream LLC, the subsidiary of LiquidityMatch LLC, provides a multibank foreign exchange and precious metals price aggregation service. The company announced today that its most recently added liquidity provider, State Street, is now live and offering liquidity to clients.
The company initially announced the addition of State Street as its 13th liquidity provider back in September of last year. Today’s declaration broadens the number of liquidity providers at the trading venue.
State Street is now among the existing list of prestigious and established banks working with FXSpotStream. The list includes the likes of BofA Merrill Lynch, BTMU, BNP Paribas, Citi, Commerzbank AG, Credit Suisse, Goldman Sachs, HSBC, J.P. Morgan, Morgan Stanley, Standard Chartered and UBS.
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FXSpotStream’s Chief Executive Officer, Alan F. Schwarz, commented on the official implementation of State Street’s liquidity. “We closed the year on a strong note with the addition of State Street to the existing panel of global banks on our Service. State Street is now live globally and pricing to our clients out of our sites in New York, London and Tokyo.”
Mr. Schwarz also remarked on the record-breaking volume levels registered by the company in January. As previously reported by Finance Magnates, FXSpotStream’s ADV during January reached an all-time high at $26.3 billion, reaching a total volume of $579 billion.
The new historical best for the company exceeded its previous best monthly performace by 10%, which was recorded in September of last year. Moreover, January’s ADV improved by 33% relative to December 2017, and 40% compared to January of last year.
Global Head of eFX at State Street, Jeremy Armitage, also commented: “Less than three months after announcing we had joined FXSpotStream we started trading with our first client. We are now live and trading with our clients in APAC, EMEA and the Americas and have strong demand from our eFX client base which continues to expand rapidly.”