FXSpotStream Adds UBS as Liquidity Provider
UBS joins other major banks such as JPMorgan, Commerzbank, Bank of America Merrill Lynch, Goldman Sachs, HSBC and Morgan Stanley on the service. FXSpotStream, as a market utility, provides the multibank application programming interface (API) and order routing infrastructure for clients, with access points in London, New York and Tokyo. The utility is a wholly owned subsidiary of LiquidityMatch.
"We have been following the progress of FXSpotStream and have concluded that the offering solves a need our clients and UBS have," says Chris Purves, managing director and global head of FX e-trading at UBS. "As a leading FX market participant we are eager to play a role in initiatives that bring efficiencies to the market and reduce the cost of execution for our clients and for UBS. Further, it is important for us that we preserve the transparent and bilateral trading relationship we have with our clients and FXSpotStream satisfies that requirement."
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