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 2014
The winners of the 2nd annual Sell-Side Technology Awards 2014 were announced in New York on April 15. These awards recognize the leading technologies and third-party vendors in their area of expertise, through an auditable and transparent methodology. To view the winners across the 24 categories click here.
16 Sep 2014
07 Oct 2014
14 Oct 2014
14 Oct 2014
20 Oct 2014
03 Nov 2014
The over-the-counter (OTC) derivatives market is in the midst of a global regulatory restructure. Authorities in Europe, Asia and the US are currently...
A fast, flexible and reliable investment decision-making process must be based on access to accurate and consistent information throughout an organization....