FXSpotStream LLC, a wholly owned subsidiary of LiquidityMatch LLC,announced that Morgan Stanley has joined as a new liquidity providing bank to FXSpotStream’s clients. Morgan Stanley adds to the liquidity available from FXSpotStream’s existing liquidity providers, which include BofA Merrill Lynch, Citi, Commerzbank AG, Goldman Sachs, HSBC and J.P. Morgan.
FXSpotStream provides a multibank FX aggregation service to clients for the purpose of executing Spot FX trades. Banks connected to FXSpotStream serve as liquidity providers to clients. FXSpotStream functions as a market utility, providing the infrastructure that facilitates the multibank API and associated routing mechanism to route trades from clients to liquidity providers. Clients access a single API from co-location sites in New York, London and Tokyo and have the potential to communicate with all liquidity providing banks connected to the FXSpotStream solution. FXSpotStream does not charge brokerage fees to clients or liquidity banks.
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The majority of LiquidityMatch shareholders are also liquidity providing banks of FXSpotStream.
Alan F. Schwarz, CEO, stated: “The addition of Morgan Stanley as a liquidity provider is further testament to the compelling value proposition offered by FXSpotStream to its clients and liquidity providing banks. We are extremely gratified with the development of our service offering to date, which is now live and supporting trading globally. We welcome Morgan Stanley as one of 7 leading liquidity providing banks to FXSpotStream and look forward to expanding the service in the future with the addition of more liquidity providing banks and enhancement of our current product offering.”
Harry Moumdjian, Executive Director, Morgan Stanley added “We are excited about joining FXSpotStream as a liquidity provider. We look forward to being part of a service that offers the FX market price aggregation from some of the leading FX market participants and brings efficiencies to the bilateral trading relationship with our clients.”
“The addition of Morgan Stanley brings another valued liquidity provider to FXSpotStream,” said Rick Schonberg, Managing Director, Goldman Sachs. “Now that FXSpotStream is live globally, the FX banks connected to the FXSpotStream service are able to deal directly with clients in a more efficient and transparent manner. We look forward to helping grow the FXSpotStream service.”