FXSpotStream Adds Societe Generale as Volumes Grow
Societe Generale has joined FXSpotStream as the platform's 15th liquidity provider.
The platform's liquidity providers are Barclays, BofA, BNP Paribas, Citi, Commerzbank AG, Credit Suisse, Goldman Sachs, HSBC, J.P. Morgan, Morgan Stanley, MUFG, Societe Generale, Standard Chartered, State Street and UBS.
Alan F. Schwarz, FXSpotStream CEO, stated, "After announcing the addition of Barclays last quarter, we continue the momentum and are pleased to welcome Societe Generale as the 15th liquidity provider on our Service. The addition of Societe Generale complements the liquidity our clients are able to access from the top global FX banks. We expect to have Societe Generale live globally before the end of Q2."
Alex Dewhurst, Global Head of FX Sales at Societe Generale said, "Having witnessed FXSpotStream's impressive growth over the years, we are delighted to be joining the Service as their latest liquidity provider. This will increase our global footprint and allow us to promote even further our expertise in Emerging Europe, Africa and Asia NDF markets, by delivering a cost-effective transparent solution to our clients."
FXSpotStream continues to add clients, with the number going live in Q1 2020 increasing 19% when compared to Q1 2019.
In terms of volume, a new ADV high was recorded in March of USD62.4 billion, beating February's prior ADV high of USD47.84 billion.
Q1 2020 ADV was USD49.121 billion, a 33% increase when compared to the same period in Q1 2019.