FXSpotStream reported an ADV of $42.648 billion in 2020 with a 18.52% compared to the $38.983 billion in 2019. The company even surpassed the $11 Trillion mark in volume supported. The YoY Spot volume increased 24,27%, NDF volume jumped 98.69% and Forwards volume was up 73.44%. These growths happened along with 19.64% increase in the number of clients connected to the Service.
Schwarz added:
Clients currently do not pay a fee of any kind to FXSpotStream to access the liquidity streamed over FSS by the 15 FSS LPs. Similarly, clients will not pay a fee to FXSpotStream to access any of the LP Algos or to access pre- and/or post-trade Allocations functionality available over the Service. Any fee an LP may charge for access to their Algos or Allocations functionality will be handled directly with the LP.
Tom San Pietro, FXSpotStream CTO added:
FXSpotStream will offer the industry’s first multibank Service FX Algo API. This is a rapidly growing area of the market and one which is of significant investment and focus for us and our LPs.
A great deal of work has taken place on our API to support the Algos of our LPs and the Allocation functionality. Our aim is always to make the interaction between our clients and LPs efficient, cost effective and transparent. The addition of Algos and Allocations achieves that objective.
Last week, FXSpotStream announced the latest addition to its team as part of its recent hiring spree. The company hired long time R5FX head of technology Amar Vadher as Infrastructure and Connectivity Manager from the London office.
