FXSpotStream, an electronic FX liquidity distribution provider, has released its monthly volume report for February 2024, revealing robust trading activity despite the current market volatility. The company's latest data highlights the resilience of foreign exchange markets amid turbulent economic conditions.
According to the FXSpotStream report, the average daily volume (ADV) of spot trading in February stood at $51.8 billion, with an additional $20.5 billion traded in other FX products, giving a total ADV of $72.3 billion. Despite a slight decline from January's total ADV of $73.6 billion, the figures demonstrate sustained market engagement amid continued global uncertainties.
Throughout February, FXSpotStream facilitated trading activities on 21 trading days, one day less than in January. Despite the reduced number of trading days, market participants remained active, contributing to overall trading volumes during the month.
Leadership Transition and Horizon Integration
Jeff Ward became CEO of FXSpotStream effective January 1, 2024, succeeding Alan Schwarz, the co-founder who resigned the previous year. Tom San Pietro, the chief technology officer, had temporarily served as CEO after Schwarz's departure until Ward officially assumed the role.
Additionally, FXSpotStream recently integrated Horizon, FairXchange's data analytics platform, into its operations, enhancing real-time analytics for more accurate trade execution and analysis. The integration allows FXSpotStream's liquidity management team to better manage relationships with price takers and liquidity providing banks. FXSpotStream clients will have insight into their execution, thereby optimizing trades and strengthening relationships with liquidity providers.
“We are always looking for ways to improve our offering for both clients and LPs, and FairXchange’s Horizon platform will enable our clients to make informed decisions regarding their liquidity,” said Antony Brocksom, Head of Sales at FXSpotStream .
Established in 2011 as a bank-owned consortium, FXSpotStream has expanded its services beyond the institutional spot FX market to include the derivatives market. It also launched support for FX algorithms and allocations through its API, expanding its service offering.
FXSpotStream, an electronic FX liquidity distribution provider, has released its monthly volume report for February 2024, revealing robust trading activity despite the current market volatility. The company's latest data highlights the resilience of foreign exchange markets amid turbulent economic conditions.
According to the FXSpotStream report, the average daily volume (ADV) of spot trading in February stood at $51.8 billion, with an additional $20.5 billion traded in other FX products, giving a total ADV of $72.3 billion. Despite a slight decline from January's total ADV of $73.6 billion, the figures demonstrate sustained market engagement amid continued global uncertainties.
Throughout February, FXSpotStream facilitated trading activities on 21 trading days, one day less than in January. Despite the reduced number of trading days, market participants remained active, contributing to overall trading volumes during the month.
Leadership Transition and Horizon Integration
Jeff Ward became CEO of FXSpotStream effective January 1, 2024, succeeding Alan Schwarz, the co-founder who resigned the previous year. Tom San Pietro, the chief technology officer, had temporarily served as CEO after Schwarz's departure until Ward officially assumed the role.
Additionally, FXSpotStream recently integrated FairXchange's data analytics platform, Horizon, into its operations, enhancing real-time analytics for more accurate trade execution and analysis. The integration allows FXSpotStream's liquidity management team to better manage relationships with price takers and liquidity providing banks. FXSpotStream clients will gain insight into their execution, thereby optimizing trades and strengthening relationships with liquidity providers.
“We are always looking for ways to improve our offering for both clients and LPs, and FairXchange’s Horizon platform will enable our clients to make informed decisions regarding their liquidity,” said Antony Brocksom, head of sales at FXSpotStream.
Established in 2011 as a bank-owned consortium, FXSpotStream has expanded its services beyond the institutional spot FX market to include the derivatives market. It also launched support for FX algorithms and allocations through its API, expanding its service offering.