The platform, which runs as a market utility is owned by a consortium of leading FX banks, providing multi-bank direct Api and GUI infrastructure to enable top-tier liquidity providers to easily and at low-cost distribute their liquidity to downstream price takers.
“We continue to listen to what our clients need and the GUI provides them a brokerage free, easily accessible, robust application to meet their trading requirements.
The launch of the new GUI continues the rapid expansion of the service this year where we have already added new order types to our API; added two more Liquidity Providers – Credit Suisse and Standard Chartered Bank; and opened our London office.
The whole FX SpotStream platform including the new HTML5 GUI and web streaming engine is provided by French trading technology firm smartTrade. Through the GUI, customers access brokerage free liquidity from up to 11 top global FX banks, and can trade FX spot, forwards and swaps (incl customised swap curves) on a single screen on a streaming ESP and RFS basis (GUI Fact sheet here).
Schwartz further states that:
The ongoing investment in new product delivery methods, expanded functionality and the addition of liquidity providers reflects our strong commitment to bringing much-needed innovation to the FX marketplace on both a transactional and technology level.
This month we were honored to be recognized by the FX community with the FX Week 2015 “Best Professional e-Trading Venue” award in a category which included many well established venues. FXSpotStream’s unique business model is leading the industry in offering a no transaction fee, transparent venue for banks and clients to trade on.”
The platform provides liquidity on a fully disclosed bilateral relationship basis, which as we have seen with EBSDirect, is something the market likes, and although SpotStream doesn’t disclose actual volume metrics, they do state strong growth levels in volumes, with ADV in June up 24% versus May and 54% up year-on-year.