Multi-bank liquidity services provider FXSpotStream LLC, a wholly-owned subsidiary of LiquidityMatch LLC, announced that Wells Fargo has joined FXSpotStream as a Liquidity Provider and is now live with multiple customers.
FXSpotStream, which is dedicated to providing a diversified pool of liquidity for its clients, said Wells Fargo (NYSE:WFC) becomes the 16th bank to connect to its price streaming service, joining Bank of America, Barclays, BNP Paribas , Citi, Commerzbank, Goldman Sachs, HSBC, JPMorgan, Morgan Stanley, MUFG, NatWest, Standard Chartered, State Street, Societe Generale and UBS.
FXSpotStream CTO Tom San Pietro commented:
“It is extremely exciting to see this level of interest in becoming a liquidity provider to the Service. FXSpotStream has become a name synonymous with growth, customer service, performance and reliability. We believe it is these qualities that have made us such an attractive LP prospect.
“We are extremely excited to partner with Wells Fargo and add another high-quality liquidity provider that has been requested by our customer base. In the fourth quarter of last year, we added our first LP since 2020, and to have a second now live is confirmation that the plans we created to add additional LPs were effective and yielding the desired results.”
About FXSpotStream
FXSpotStream is a bank-owned consortium founded in 2011 that provides fully disclosed, multi-bank, relationship-based trading services for foreign exchange and precious metals instruments. The service supports ESP and RFS trading protocols along with access to liquidity provider algo suites. Banks connected to FXSpotStream act as Liquidity Providers to clients.
Clients can access a GUI or a standalone API from co-location locations in New York, London and Tokyo and have the ability to communicate with all liquidity providers connected to FXSpotStream. FXSpotStream has revolutionized the FX trading landscape by eliminating execution costs for price buyers and enabling price makers to pay a flat fee to provide pricing to their clients. It is the only space on the market today with this unique business model.