FXSpotStream LLC announced this Tuesday that Societe Generale has now gone live on the company’s price streaming service, becoming the 15th liquidity provider on the platform.
As FortuneZ reported, Societe Generale joined the price aggregation service as a liquidity providing bank back in May. However, the development announced today is that the French bank is now live and is trading with clients via the service.
Societe Generale is the 15th liquidity provider
Societe Generale is the 15th liquidity provider on FXSpotStream, a wholly-owned subsidiary of LiquidityMatch LLC. The 14 other liquidity providers are Bank of America, Barclays, BNP Paribas, Citi, Commerzbank AG, Credit Suisse, Goldman Sachs, HSBC, J.P. Morgan, Morgan Stanley, MUFG, Standard Chartered, State Street and UBS.
Commenting on the update, Alan F. Schwarz, FXSpotStream CEO, said in the statement: “Our focus when adding a new liquidity provider is to improve the ecosystem for our clients and ensure that we make available to clients liquidity in the areas needed. The addition of Societe Generale fulfills both of these criteria and complements the existing liquidity available to the clients using our Service.”
FXSpotStream continues to expand liquidity providers
Less than a week ago, FXSpotStream announced that it had added liquidity from Barclays for its clients in production, after establishing a partnership with the UK-based bank back in February of this year, joining as the 14th liquidity provider.
“FXSpotStream’s cost-effective, transparent solution, as well as its impressive growth, were key drivers for us in providing liquidity using their Service,” added Alex Dewhurst, Global Head of FX Sales Societe Generale in the statement.
“Their network is global, and it fits well with our global business, especially with our Emerging Market footprint. We are truly excited about what this means for us, our clients and prospective clients.”
FXSpotStream was founded in 2011 as a bank-owned consortium that operates as a market utility, providing multibank FX streaming and matching services. Banks that are connected to the platform serve as liquidity providers to clients.