Multibank FX streaming service FXSpotStream has announced that ANZ (ASX:ANZ) has become the first Australian bank to join FXSpotStream LLC, a wholly owned subsidiary of LiquidityMatch LLC, extending the bank’s FX wholesale liquidity.

As the 17th liquidity provider on FXSpotStream’s Service, ANZ joins Bank of America, Barclays, BNP Paribas, Citi, Commerzbank, Goldman Sachs, HSBC, JPMorgan, Morgan Stanley, MUFG, NatWest, Standard Chartered, State Street, Societe Generale, UBS and Wells Fargo, as it continues its commitment to diversifying its liquidity pool.

FXSpotStream CEO, Jeff Ward stated:

“2024 has been a tremendous year for the Service, with our ADV up over 40% year to date and five ADV records already in the books. Despite the growth in volumes, we have high standards in terms of client service, performance and reliability to uphold and that continues to be a strong focus for us.

“The decision to add any new LP is always one that comes with a great deal of consideration. For us, more does not necessarily equal better and there always needs to be a real value add for clients, either currently on the Service or prospective. We felt that ANZ fit the description perfectly on both fronts, having seen interest from our current client base as well as fitting our plans for the future here at FXSpotStream.”

ANZ Head of eFICC Markets, Luke Marriott, said:

“As the first Australian bank to partner with FXSpotStream, we continue to expand our wholesale FX distribution capability to give our customers access to market leading products that support their needs. Our unique global footprint, our expertise in AUD, NZD, Asian currencies and the related cross will be complimentary to the platform and other liquidity providers.”

About FXSpotStream LLC

FXSpotStream is a bank owned consortium founded in 2011 and provides fully disclosed, multibank, relationship-based trading services for FX and precious metals instruments. The service supports ESP and RFS trading protocols along with access to liquidity provider algo suites. Banks connected to FXSpotStream serve as Liquidity Providers to clients.

Clients can access a GUI or single API from co-location sites in New York, London and Tokyo and have the ability to communicate with all Liquidity Providing banks connected to FXSpotStream. FXSpotStream has revolutionized the FX trading landscape by eliminating the cost of execution for price takers and giving price makers the ability to pay a flat fee to provide pricing to their clients. They are the only venue on the market today with this unique commercial model.