FXSpotStream reported $42.7 billion in average daily volume (ADV) in December 2020, a 37% jump compared to the same period in 2019. FXSpotStream also posted a total volume of $941 billion in December 2020, compared to $684 billion a year earlier.
According to the official numbers, the latest ADV numbers are down nearly 4% compared to November 2020. In November, FXSpotStream reported $44.5 billion ADV, which is up 14% compared to October 2020. December 2020 saw a total of 22 trading days.
As far as total volume is concerned, the latest month saw a total volume of $941 billion, which is up more than 14% compared to November 2020. Last year, FXSpotStream achieved significant milestones in terms of trading volumes.
“2020 saw FXSpotStream cross the USD11 Trillion mark in terms of volume supported over the Service for the first time in the company’s 9 year history. With an 18.52% increase in overall volume, FSS registered as the fastest growing eFX Service for the third consecutive year. We would like to thank our loyal clients, LPs and Vendor Partners for their continued support,” FXSpotStream mentioned in an official announcement.
FX Algos and Allocations Functionality
Finance Magnates earlier reported about FXSpotStream’s announcement to add Algos and allocations functionality over its APIs. FXSpotStream accelerated its hiring in recent months. Merg Limani joined as the regional support manager for America at FXSpotStream. Furthermore, the organisation onboarded Caryn Kim as Business Development Manager recently.
“We continue to see tremendous growth in terms of volume, client Acquisition , and the addition of LPs since we formed the business over 9 years ago. Adding support for the FX Algos and the pre-and post-trade Allocation functionality supported by our LPs will contribute to the continued growth of our business. The addition of FX Algos and Allocations will be an invaluable tool for the Asset Management and Hedge Fund community as well as others that currently access our Service,” Alan F. Schwarz, FXSpotStream Co-founder and CEO said in an announcement.
