FXSpotStream, a bank owned consortium, providing a multibank FX aggregation service to clients for the purpose of executing FX Spot, FX Forward, FX Swap and Spot Precious Metals trades provided an update on company development through a very busy Fall and the firm expects to remain so as it looks to close the year.
The company states that volumes supported by the service and the addition of new clients have exceeded 2014 targets. At the same time, the service has remained stable and reliable and the level of support clients receive of the highest quality. In parallel, FXSpotStream has continued to roll out new products and enhanced the service’s functionality and features.
Below are some updates the company believes is of note:
- ADV in September hit an all-time record exceeding August by 48%; September YoY grew by 385%
- October’s ADV was the second highest on record only 0.15% below the September ADV record
- A new daily volume record was set on October 31 exceeding the prior record by 5%
- YoY October ADV grew by 319%
- Client growth continues to exceed expectations – YoY (October 2014 vs 2013) client growth was up 78%
- Forwards, Swaps and RFS functionality (for Forwards, Swaps and Spot) is now available.
- Forwards streaming is targeted to be in production on December 1
Further, several new functionality and operational enhancements have been added and more are coming:
Effective November 3
– The market data timestamp from the liquidity provider is now available as an optional field on the FSS market data session. If you would like this tag enabled in either UAT or PROD please let us know
– When a liquidity provider’s trading session goes down, the market data session will automatically be disabled as well. This will avoid any trading on a quote that would otherwise time out
Targeted for December 1
– Enhanced API monitoring by FXSpotStream Support of liquidity providers’ market data feeds. Our Support team will monitor the feeds to proactively detect that there is no inverted pricing; zero values sent for either price or quantity; CCY pair subscription activity. In the case of inverted pricing or zero values, the LP’s price will still be sent to the client but our Support Team will be able to proactively engage the LP and client as appropriate.
To see more info or contact FXSpotStream, click here.
To read the company’s Frequently Asked Questions Document (PDF), click here.