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FXSpotStream LLC has added Deutsche Bank as its newest liquidity provider, bringing the total number of banks on its foreign exchange trading platform to 18. Deutsche Bank is now live and trading with clients on FXSpotStream's network.
The move expands Deutsche Bank's wholesale FX liquidity distribution capabilities through FXSpotStream's infrastructure, which operates from co-location sites in New York, London and Tokyo.
Deutsche Bank joins a roster of major financial institutions on the platform, as it continues its commitment to diversifying its liquidity pool, joining ANZ, 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, founded in 2011 as a bank-owned consortium, provides disclosed, multibank trading services for FX and precious metals.
"DB has been a Global leader in FX Liquidity provision for many years, and we are excited to welcome them to the FXSpotStream service," said Jeff Ward, CEO of FXSpotStream. "2024 has been a historic year for FXSpotStream in terms of volumes, but the additions we have made, and the excellent performance of the low latency infrastructure give us reason to believe that 2025 will be even better."
The platform operates a unique commercial model where price takers pay no execution costs whilst liquidity providers pay flat fees, distinguishing it from other venues in the market.
Ollie Jerome, Head of European FX Product at Deutsche Bank, said: "Our new relationship with FXSpotStream is consistent with our strategy of providing liquidity to the market and our clients across all relevant venues. As the FX ecosystem continues to evolve, we are keen to benefit from the existing efficiencies that FXSpotStream affords banks, as well as future opportunities to help us mitigate the transactional cost of liquidity provision and servicing clients."
FXSpotStream's service supports both ESP and RFS trading protocols and provides access to liquidity provider algorithmic trading suites through either a graphical user interface or single API connection.
