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FXSpotStream LLC has announced the addition of ANZ as its newest liquidity provider, marking the first Australian bank to join the service and brings the total number of liquidity providers on FXSpotStream's platform to 17.
ANZ joins a roster of major global banks already providing liquidity on the FXSpotStream platform, including Bank of America, Barclays, BNP Paribas, Citi, Commerzbank, Goldman Sachs, HSBC, J.P.Morgan, Morgan Stanley, MUFG, NatWest, Standard Chartered, State Street, Societe Generale, UBS and Wells Fargo.
FXSpotStream, a bank-owned consortium founded in 2011, provides fully disclosed, multibank, relationship-based trading services for FX and precious metals instruments. The platform supports both ESP (Executable Streaming Price) and RFS (Request for Stream) trading protocols, along with access to liquidity provider algo suites. This unique service allows clients to access a GUI or single API from co-location sites in New York, London, and Tokyo, enabling communication with all connected liquidity providing banks.
Jeff Ward, CEO, FXSpotStream
Jeff Ward, CEO of FXSpotStream, commented on the addition: "2024 has been a tremendous year for the Service, with our ADV up over 40% year to date and five ADV records already in the books. Despite the growth in volumes, we have high standards in terms of client service, performance and reliability to uphold and that continues to be a strong focus for us."
Ward emphasised the careful consideration that goes into adding new liquidity providers: "The decision to add any new LP is always one that comes with a great deal of consideration. For us, more does not necessarily equal better and there always needs to be a real value add for clients, either currently on the Service or prospective. We felt that ANZ fit the description perfectly on both fronts, having seen interest from our current client base as well as fitting our plans for the future here at FXSpotStream."
Luke Marriott, Head of eFICC Markets, ANZ
Luke Marriott, ANZ Head of eFICC Markets, highlighted the strategic importance of this partnership for ANZ: “As the first Australian bank to partner with FXSpotStream, we continue to expand our wholesale FX distribution capability to give our customers access to market leading products that support their needs. Our unique global footprint, our expertise in AUD, NZD, Asian currencies and the related cross will be complimentary to the platform and other liquidity providers.”
FXSpotStream has disrupted the FX trading landscape with its unique commercial model, eliminating the cost of execution for price takers while allowing price makers to pay a flat fee to provide pricing to their clients. FXSpotStream is the only venue on the market today with this unique commercial model.
The addition of ANZ to FXSpotStream's service is expected to enhance liquidity and trading options, particularly for clients interested in AUD, NZD and Asian currency pairs and related crosses.
In September, FXSpotStream recorded a record $100 billion in Average Daily Volume across all products on its netwrok.
To view the historical Average Daily Volume of FXSpotStream over the last 5+ years, click here.
To learn more about FXSpotStream. please visit their page on LiquidityFinder by clicking the link below.
