Liquidity in global foreign exchange markets is set for another boost as FXSpotStream announced the addition of BNY to its trading service.
The move expands the consortium’s roster of liquidity providers to 19, reinforcing its position as a platform offering banks and clients more choice in FX execution.
BNY Expands Market Access
BNY, a major financial services company with over $55 trillion in assets under custody and administration, joins a line-up that already includes top global players such as J.P. Morgan, Goldman Sachs, Deutsche Bank, and Citi. The addition is expected to enhance the diversity and depth of pricing available to FXSpotStream’s clients.
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Jeff Ward, CEO of FXSpotStream, highlighted the significance of the step. “The addition of BNY broadens the liquidity options available through our Service,” he said. “As 2025 shapes up to be a record-breaking year for FXSpotStream, with volumes continuing to rise, we remain steadfast in our commitment to delivering the best possible Service.”
For BNY, the move reflects a wider strategy of scaling distribution and expanding client access. Harry Moumdjian, Head of Sales for Global Markets Trading at BNY, said: “By joining our clients on the platform where they operate, we are enhancing accessibility, strengthening our unique market position, and driving sustainable growth.”
FXSpotStream’s Model
Founded in 2011, FXSpotStream operates a unique commercial model that eliminates execution costs for price takers while charging liquidity providers a flat fee. The service offers trading in FX and precious metals, accessible through a single API or GUI from co-location sites in New York, London, and Tokyo.
With BNY’s entry, the consortium continues to widen its reach at a time when FX volumes are trending higher. For clients, the change means greater access to liquidity and potentially tighter spreads, underscoring how competition among banks and venues is reshaping the trading landscape.
Elsewhere, FXSpotStream’s UK branch reported a rise in turnover for 2024 in July, with revenue climbing more than 19% year-on-year to $4.2 million.
Administrative expenses increased to $3.9 million in 2024, compared with $3.3 million a year earlier. Despite the higher costs, profits before taxes reached $275,911, up about 11% from the prior year, while net profit after tax came in at $194,971. The results marked another year of growth for FXSpotStream Europe, the group's UK-registered unit.
