FXSpotStream Widens Distance From 2017 Trading Volumes At 58%

Ricardo Esteves

Ricardo Esteves has seen business and economics through many lenses. He joined the Financial Services Industry in 2009, and has been a financial journalist since 2011. He holds a degree in Business Administration and has experience producing real-time news, from both buy-side and sell-side, as well as for retail traders, brokers and service providers. Esteves' work has appeared in a variety of online publications including FX Street and FinanceFeeds.

FXSpotStream a multibank FX

FXSpotStream Widens Distance From 2017 Trading Volumes At 58%

August 3, 2018
Alan F. Schwarz, CEO, FXSpotStream
Alan F. Schwarz, CEO, FXSpotStream

FxSpotStream, a multibank FX streaming aggregation and a matching service supporting trading in FX Spot, Forwards, Swaps, NDFs and Precious Metals, continues to excel in its reported trading volumes performance.

Trading volumes on FXSpotStream for the month of July 2018 maintain the record-breaking trend of recent months. July’s average daily volume was 58% higher year-over-year, i.e. when compared to the ADV in July 2017. From the US$ 17.552 billion that passed through the FX streaming service reported in July 2017, FxSpotStream saw an increase to US$ 27.714 billion in July 2018.
The month-over-month (MoM) metrics indicate a slightly lower performance, dropping 8.74% from June 2018 – the month which recorded the highest ADV on the service ever at over US$ 30.4 billion.
Indeed, average daily volume data is cause for celebration at FxSpotStream as the first half of 2018 was an astounding period for the bank-owned consortium that provides the infrastructure to facilitate the route of trades from clients to liquidity providers. Its volumes grew at the fastest rate of any eFX venue in the first 6 months of 2018, with ADV up by 49% YoY.

June was the cherry on top, with the highest trading volumes ever recorded at the trading venue, marking fresh highs in the group’s seven years history. The US$ 30.4 billion ADV reported in June was driven by political turbulence in Europe, trade tariffs imposed by the US on global trade which made the market very volatile.

Founded in 2011, FXSpotStream has 13 liquidity providers, which include BofA Merrill Lynch, BTMU, BNP Paribas, Citi, Commerzbank AG, Credit Suisse, Goldman Sachs, HSBC, J.P. Morgan, Morgan Stanley, Standard Chartered, UBS, and most recently State Street. Operating as a market utility as it streams the liquidity provided by 13 major banks, the firm’s unique commercial model eliminates the cost of execution for price takers and allows price makers the ability to pay a flat fee for all executed transactions.

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