FXSpotStream, a provider of multibank FX aggregation services, has announced that Australia’s ANZ bank has joined its platform as a liquidity provider. ANZ is the first Australian bank to become part of the platform, joining a network of 17 global liquidity providers, including industry giants like Bank of America, JP Morgan, and Barclays. This strategic addition is aimed at bolstering FXSpotStream’s presence in the Asia-Pacific region and enhancing its offerings for clients seeking liquidity in Australian, New Zealand, and other Asian currencies.
Expanding Liquidity Offerings in Asia-Pacific
The inclusion of ANZ as a liquidity provider is part of FXSpotStream’s strategy to tap into the growing demand for diversified liquidity in the Asia-Pacific foreign exchange market. With ANZ’s strong expertise in AUD, NZD, and various Asian currencies, FXSpotStream is better positioned to serve its clients with more tailored liquidity solutions, complementing its existing offerings. This move comes as FXSpotStream continues to expand its global footprint and strengthen its service capabilities.
Jeff Ward, CEO of FXSpotStream, emphasized the significance of this partnership, stating, “2024 has been a remarkable year for us, with our average daily volumes (ADV) increasing by over 40% year-to-date and five new ADV records set already. Adding new liquidity providers is always a thoughtful decision to ensure it aligns with our clients’ needs and our long-term strategy. ANZ’s inclusion fits perfectly into this framework.”
FXSpotStream’s Unique Model
FXSpotStream operates a fully disclosed, multibank trading model that caters to both FX and precious metals markets. Unlike other trading platforms, FXSpotStream does not charge execution fees to price takers, making it a cost-effective solution for liquidity providers who pay a flat fee. This model simplifies the cost structure for trading participants and promotes greater transparency in the market.
Record Trading Volumes Amid Expansion
In addition to expanding its network of liquidity providers, FXSpotStream has also achieved record trading volumes for three consecutive months. In September, the platform reported an average daily volume of $101.9 billion, up 5% from the $96.8 billion recorded in August. While the spot ADV slightly declined to $72 billion from $73.2 billion in the previous month, the “other ADV” category saw significant growth, increasing by over $6 billion to reach nearly $30 billion. This upward trend reflects strong momentum and the growing appeal of FXSpotStream’s trading services.
With ANZ now on board, FXSpotStream is set to further strengthen its position in the Asia-Pacific region, providing clients with an expanded pool of liquidity and reinforcing its status as a leading player in the FX market.
