Multibank FX aggregation service FXSpotStream has reported that volumes on its system were down 21% MoM to $17.6 billion average daily volume in December.
In context, however, FxSpotStream’s volumes were fairly in line with what we have seen so far from other leading institutional eFX venues such as Hotspot FX and FastMatch. November saw record trading volumes at FXSpotStream and other Forex ECNs, thanks to post-US election volatility.
FXSpotStream is a bank owned consortium operating as a market utility, providing the infrastructure that facilitates a multibank API and GUI to route trades from clients to Liquidity Providers. FXSpotStream provides liquidity from 12 leading global banks – BofA Merrill Lynch, Bank of Tokyo-Mitsubishi UFJ, BNP Paribas, Citi, Commerzbank AG, Credit Suisse, Goldman Sachs, HSBC, J.P. Morgan, Morgan Stanley, Standard Chartered and UBS.