FXSpotStream LLC, a wholly owned subsidiary of LiquidityMatch LLC, today announced that Credit Suisse has agreed to join the Service and provide liquidity to FXSpotStream's clients.
The addition of Credit Suisse adds to the liquidity available from FXSpotStream's existing liquidity providers, which include BofA Merrill Lynch, BNP Paribas, Citi, Commerzbank AG, Goldman Sachs, HSBC, J.P. Morgan, Morgan Stanley and UBS.
Alan F. Schwarz, CEO, stated: "We are delighted that Credit Suisse is joining FXSpotStream as the 10th liquidity provider. With the addition of Credit Suisse our mutual clients now have access to liquidity from nine of the top 12 global FX banks. FXSpotStream continues to address the needs of the FX community as evidenced by our 310% year on year (2014 vs 2013) volume growth and an 83% increase in the number of clients added to the service compared to the same period last year. Our unique business model is leading the industry in offering a low cost, transparent venue while providing a high quality service to our clients and banks. We expect to have Credit Suisse live and available for trading next month. Additional liquidity providers are expected to join the Service later this year."
"Credit Suisse is continually looking for new ways to service clients and, by joining FXSpotStream, we are providing them with an additional point of access our FX liquidity'' said John Estrada, Head of eFX Trading at Credit Suisse.
Steve Aldridge, Head of Macro eSales EMEA added: "For Credit Suisse, the aim is to engage with clients in an efficient and cost-effective manner, allowing us to focus on delivering an exceptional trading experience to clients.''
"We are very pleased with FXSpotStream's growth since its launch over 3 years ago and welcome Credit Suisse to the Service," stated Richard Anthony, Global Head of FX eRisk at HSBC. We continue to experience strong demand globally from our clients who wish to transact with us in a fully disclosed, bilateral, no commission fee basis. FXSpotStream's focus on reducing the costs is beneficial to the industry."