Australia’s bank ANZ joined FXSpotStream to boost its FX wholesale liquidity capabilities. This partnership now positions the multinational bank among 17 global liquidity providers on the multibank FX aggregation service platform.

Addition to FXSpotStream

ANZ joins a group of other liquidity providers, including Bank of America, JP Morgan, and Barclays. With this move, FXSpotStream, a subsidiary of LiquidityMatch LLC, enhances its trading services by eliminating execution costs for liquidity providers' price takers. ANZ’s inclusion as a liquidity provider aims to tap into Australia’s Asia-Pacific FX markets.

Commenting about the integration, FXSpotStream’s CEO, Jeff Ward, said: “2024 has been a tremendous year for the Service, with our ADV up over 40% year to date and five ADV records already in the books. The decision to add any new LP is always one that comes with a great deal of consideration.”

“For us, more does not necessarily equal better and there always needs to be a real value add for clients, either currently on the Service or prospective,” he added. “We felt that ANZ fit the description perfectly on both fronts, having seen interest from our current client base and fitting our plans for the future here at FXSpotStream.”

The company targets ANZ’s expertise in AUD, NZD, and Asian currencies to complement FXSpotStream’s existing offerings. This move aims to meet the growing client demand for diversified liquidity in these currency markets.

FXSpotStream Model

FXSpotStream operates a fully disclosed, multibank, relationship-based trading model for FX and precious metals markets. The service allows liquidity providers to pay a flat fee. It thus simplifies cost structures for price makers and eliminates execution fees for price takers.

Last month, FXSpotStream posted record trading volumes for the third consecutive month. The total ADV was $101.9 billion (5% from $96.8 billion in August). The spot ADV indicator experienced a moderate drop to $72 billion, compared to the $73.2 billion in the previous month.

The “other ADV” category expanded by over $6 billion to almost $30 billion. This upward trend boosted the total values, driving the figures to an all-time high.