FXSpotStream LLC, a subsidiary of LiquidityMatch LLC, today announced that Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU), part of Mitsubishi UFJ Financial Group Inc (TYO:8306), has joined as a new liquidity providing bank to FXSpotStream’s clients.
BTMU adds to the liquidity available from FXSpotStream’s existing liquidity providers, which include BofA Merrill Lynch, BNP Paribas, Citi, Commerzbank AG, Credit Suisse, Goldman Sachs, HSBC, J.P. Morgan, Morgan Stanley, Standard Chartered and UBS.
Alan F. Schwarz, CEO, stated: “With the addition of BTMU, the 3rd new Liquidity Provider this year, we have now doubled the original number of Liquidity Providers added to FXSpotStream since inception. The doubling of the number of liquidity providers in just over 3 years after the service went live confirms that market participants need a new, more efficient, less expensive way to transact with clients bilaterally.”
Mr Schwarz also commented on the business growth this year:
“In fact, 2015 is turning into a record year with our business rapidly expanding in all regions with overall volumes up 8.5% in September over August and 46% year to date through September versus the same period last year. Client acquisition also remains strong across all regions with client growth up 50% in September year on year. The addition of BTMU, the largest bank in Japan (by market value), will accelerate our growth in client numbers and trading volume in Tokyo, the Asia-Pacific region and globally as BTMU provides a diverse addition to the liquidity pool we can offer clients. We expect to take BTMU live in late Q4.”
Hirochika Iwadare General Manger of Global Markets Trading Division said: “BTMU is pleased to be joining FXSpotStream as a Liquidity Provider. We look forward to offering our clients an additional venue to transact with Bank of Tokyo-Mitsubishi UFJ.”