Societe Generale has become the 15th liquidity providing bank to join FXSpotStream and is trading with clients via its price streaming Service. Societe Generale joins Bank of America, Barclays, BNP Paribas, Citi, Commerzbank AG, Credit Suisse, Goldman Sachs, HSBC, JP Morgan, Morgan Stanley, MUFG, Standard Chartered, State Street and UBS as liquidity providers.
Alan F Schwarz, FXSpotStream CEO, says: “Our focus when adding a new liquidity provider is to improve the ecosystem for our clients and ensure that we make available to clients liquidity in the areas needed. The addition of Societe Generale fulfils both of these criteria and complements the existing liquidity available to the clients using our Service.
There is a high level of excitement about FXSpotStream right now as our numbers continue to grow. June was another great month for us with an ADV of USD43.287billion. June saw a 19.9 per cent increase month on month from May 2020 and we registered our third highest month ever.
2020 has also been a record-breaking year for FXSpotStream, with March bringing a new high in terms of monthly volume of USD1.372 trillion, and a daily record on March 9th of USD89.6 billion. The Service is averaging an 18.66 per cent increase in ADV per month (Jan-Jun 2020) vs the same time period in 2019 and we expect these numbers to continue to rise.”
Alex Dewhurst, Global Head of FX Sales Societe Generale, says: “FXSpotStream’s cost-effective, transparent solution, as well as its impressive growth, were key drivers for us in providing liquidity using their Service. Their network is global, and it fits well with our global business, especially with our Emerging Market footprint. We are truly excited about what this means for us, our clients and prospective clients.”