FXSpotStream to slash processing time with microsecond low-latency architecture

abdelaziz Fathi

FXSpotStream’s trading venue, the aggregator service of LiquidityMatch LLC, has upgraded its offering with the deployment of a new low-latency architecture.

FSS said the new architecture will be deployed globally in order to improve its platform’s market data processing times, particularly for latency-sensitive strategies. The recent improvements are expected to slash data processing times “under all market conditions” to below 250 microseconds.

The vendor further outlines how their upgrade would contribute 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 should allow them to optimize every step of the tick-to-trade loop between FSS’ trading infrastructure and the trading venue.

The project is already underway in the New York site and FXSpotStream expects a phased roll out this quarter followed by London and Tokyo in the Q1 2022.

FXSpotStream Co-Founder and CEO, Alan Schwarz commented, “We have grown tremendously since our launch in 2011 becoming the 3rd largest FX Service by volume with an ADV this year at USD48.5billion. At the same time, we have placed great importance on the speed and quality of our market data distribution. Our aim is to provide our clients plus liquidity providers the best-in-class infrastructure and prioritize the performance and reliability of the Service in the same way as our deep product offering. Ensuring that our clients receive pricing and can send orders in a timely manner is of critical importance.

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’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.

Activity on FXSpotStream’s trading venue has been consolidating around the $1 trillion mark over the last year. The aggregator service of LiquidityMatch LLC reported a record $1.63 trillion in total volumes for September 2021.

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