FXSpotStream onboards Wells Fargo to its price streaming Service

abdelaziz Fathi

US investment bank Wells Fargo is the latest firm to join FXSpotStream’s growing consortium of liquidity providers.

FXSpotStream

Following new volume highs recorded in 2023, FXSpotStream onboarded Wells Fargoas as its 16th liquidity provider following changes to their LP pricing model. Building on this progress, the list now includes Barclays, BofA, BNP Paribas, Citi, Commerzbank, Credit Suisse, Goldman Sachs, HSBC, JP Morgan, Morgan Stanley, MUFG, Standard Chartered, State Street and UBS.

In a corporate statement, FXSpotStream highlighted the importance of adding Wells Fargo, a highly regarded liquidity provider, which was a specific request from their client base.

FXSpotStream CTO, Tom San Pietro commented: “It is tremendously exciting to see this level of interest in becoming a liquidity provider on the Service. FXSpotStream has become a name synonymous with growth, client service, performance and reliability. We feel that these qualities are what have made us such an appealing prospect for LPs.

FXSpotStream provides a multibank FX aggregation service for spot FX trading. The platform operates as a bank-owned consortium that provides the infrastructure to facilitate the route of trades from clients to liquidity providers.

It aggregates liquidity from a growing number of leading global banks, creating a deep pool of liquidity for its clients. The platform utilizes a no ‘last look’ trading model, providing certainty of execution to market participants.

FXSpotStream’s offering is a client-to-bank platform, with each liquidity taker required to ‎create individual credit relationships with participating banks.‎ This differs from other multi-dealer platforms, such as FX ECNs like Hotspot and ‎EBS Markets that operate with centralized order book systems for their participants.

The company caters primarily to institutional clients, including banks, asset managers, hedge funds, and proprietary trading firms. Its client base spans across the Americas, Europe, and Asia, and it continues to expand its reach by adding new liquidity providers and enhancing its technology infrastructure.

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