New multibank service aimed at pricing information for spot FX trades.
FXSpotStream LLC has announced the debut of its multibank price aggregation service, aimed at the facilitation of spot foreign exchange (FX) trades.
Banks connected to the company's service include Citi, Bank of America Merrill Lynch, Commerzbank AG, Goldman Sachs, HSBC and JP Morgan Chase. The firms will all serve as liquidity providers for clients. The service is aimed as a market utility rather than a solution, and as such, there are no broker fees for either the bank or the client.
"FXSpotStream provides banks and clients the ability to communicate bilaterally using a solution that does not interfere with the transaction, is transparent and eliminates the cost of execution," says Alan F Schwarz, CEO. "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 is a subsidiary of LiquidityMatch LLC, in which many of the participating banks are shareholders.
More from Sell Side Technology
Updating your subscription status
Winner's Announced: Sell-Side Technology Awards 2015
The winners of the 3rd annual Sell-Side Technology Awards 2015 were announced in New York on April 21, recognizing the leading third-party vendors serving the sell side in their area of expertise, through an auditable and transparent methodology. To view the winners across the 28 categories click here.
02 Dec 2015
07 Dec 2015
18 Feb 2016
05 Apr 2016
24 May 2016
Download whitepaper for FREE Solving issues relating to data quality and timeliness should be the top priority for an industry-led reference data utility,...
Download whitepaper for FREE Public cloud has grown exponentially in recent years in sectors such as telecoms, the media, health industry and insurance,...