FXSpotStream reveals flat FX volumes for May 2022

abdelaziz Fathi

FXSpotStream’s trading venue, the aggregator service of LiquidityMatch LLC, on Thursday reported its operational metrics for May 2022, which moved higher on a yearly basis but reflected a zero change across executed trade volumes when weighed against the figures of the prior month.

Total volumes submitted to FXSpotStream was virtually unchanged in May month-over-month, coming in at $1.28 trillion. Across a yearly timetable, the figure reflected an advance by 29 percent relative to 2021’s figure of $994 billion.

May’s average daily volume (ADV) was reported at $58.3 billion. The ADV metric was down by 5 percent from $61.2 billion in April 2022, but increased 23 percent year-over-year when compared with $47.3 billion in May 2021.

The total monthly volume across FXSpotStream’s streaming and matching products was comfortably above the $1 trillion mark in the last five months. The activity got off to a strong rebound as the financial markets kicked off the new year in high gear, with a multitude of factors helping steer volumes across several venues.

These difficult conditions could become increasingly common as investors brace for plenty of hurdles as conflict between Russia and Ukraine has been causing knock-on effects globally, which pumped up FX hedging trades.

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.

FXSpotStream has recently upgraded its offering with the deployment of a new low-latency architecture. The vendor says their upgrade contributes to a faster trade, adding that it involves a comprehensive overhaul of the existing infrastructure in place for the company’s liquidity providers and clients. This allows them to optimize every step of the tick-to-trade loop between FSS’ trading infrastructure and the trading venue.

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.

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