FXSpotStream, the multibank FX streaming service founded in 2011, has announced the promotion of Antony Brocksom to Global Head of Sales. Brocksom earned the post after nearly six years leading the sales department in the EMEA region.
Antony joined the company in 2015 after four years at Barclays Investment Bank as FX Prime Brokerage Business Manager. Prior to that, he spent nearly two years at JP Morgan as a European Product Manager for FXPB. As with the prior role at FXSpotStream, the new position as Global Head of Sales will be based in London.
The company has recently announced the addition of functionality to support 70 different FX Algos and Allocations over its API offered by the FSS Liquidity Providers (LPs). The added functionality, which is expected to go live in Q2 of this year, will allow clients on a pre- and/or post-trade basis to send and allocate orders from multiple accounts at the same time.
For the year of 2020, FXSpotStream posted an ADV of USD42.648bn (+18.52% yoy) and crossed the USD11 Trillion mark in terms of volume supported. Spot volume was up 24.27% (yoy), with NDF volume up 98.69% and Forwards volume up 73.44%. The number of clients grew by 19.64%.
FXSpotStream aggregates some of the world’s largest financial institutions in its pool of liquidity, including Bank of America, Barclays, BNP Paribas, Citi, Commerzbank AG, Credit Suisse, Goldman Sachs, HSBC, J.P. Morgan, Morgan Stanley, MUFG, Standard Chartered, State Street, UBS, and Societe Generale. The firm is the only venue on the market with this commercial model while providing multibank FX streaming, RFS, and matching services supporting trading in FX Spot, Forwards, Swaps, NDF/NDS and Precious Metals Spot and Swaps. The service has eliminated the cost of execution for price takers and allows price-makers the ability to pay a flat fee for all executed transactions.