Top Hedge Fund News, Member Posts, Hedge Fund Daily Indices and more!

2yrs ago Hedge Fund hedgeweek Views: 460

FXSpotStream goes live with algos and allocations functionality over API

Submitted 23/06/2021 - 2:05pm

FXSpotStream (FSS) has added functionality to support FX algos and allocations over its API and expects to have its first clients live in early Q3. 

FSS clients will have access to over 70 different algos and 200-plus parameters offered by the FSS Liquidity Providers (LPs). FX allocations allows clients, on a pre- and/or post-trade basis, to send and allocate orders from multiple accounts at the same time. Work to support FX algos and allocations over the GUI is underway, and this is expected to be live in Q1.

Alan F Schwarz, FXSpotStream Co-founder and CEO, says: “We are extremely excited to be live with our Algos and Allocations API offering. The team has done a tremendous job getting the offering live on schedule despite some challenging conditions related to the global pandemic.

The feedback since we announced the addition of support for FX Algos and Allocations has been resoundingly positive. We are committed to delivering more solutions that satisfy the needs of our LPs and of our mutual clients. 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.

Clients currently do not pay a fee of any kind to FSS to access the liquidity streamed over the Service by the 15 FSS LPs. Similarly, clients will not pay a fee to FSS to access any of the LP Algos or to access pre- and/or post-trade Allocations functionality available over the Service. Any fee an LP may charge for access to their Algos or Allocations functionality will be handled directly with the LP.

We came into this new product launch with a great deal of momentum from our core business. After another record year in 2020, the growth in our business has continued. Our ADV for 2021 (Jan-May) is USD49.959 billion, a 14.97 per cent increase when compared to the same period of 2020. March ‘21 registered as the second highest ADV in the company’s history at USD54.674 billion and April saw volumes cross the USD1trillion mark for the second consecutive month. To give some perspective to the growth in our volumes this year, 2020 was a very strong year with overall volumes up 18.52 per cent versus 2019. We set new highs in terms of ADV (USD62.378 billion), overall volume (USD1.372trillion) and Daily Volume (USD89.6billion) in March 2020 and crossed the USD11 trillion mark for the first time in the company’s history.

In May, FSS crossed the USD50 trillion mark in overall volume supported since the company went live.”
 

Like this article? Sign up to our free newsletter Related Topics Trading & Execution Technology & software solutions

Today's Hedge Fund Headlines:

Log In for More
Access Over 250K+ Industry Headlines, Posts and Updates
Not a member yet?

Join AlphaMaven

The Premier Alternative Investment
Research and Due Diligence Platform for Investors

Free Membership for Qualified Investors and Industry Participants
  • Easily Customize Content to Match Your Investment Preferences
  • Breaking News 24/7/365
  • Daily Newsletter & Indices
  • Alternative Investment Listings & LeaderBoards
  • Industry Research, Due Diligence, Videos, Webinars, Events, Press Releases, Market Commentary, Newsletters, Fact Sheets, Presentations, Investment Mandates, Video PitchBooks & More!
  • Company Directory
  • Contact Directory
  • Member Posts & Publications
  • Alpha University Video Series to Expand Investor Knowledge
  • AUM Accelerator Program (designed for investment managers)
  • Over 450K+ Industry Headlines, Posts and Updates
ALL ALPHAMAVEN CONTENT IS FOR INFORMATIONAL PURPOSES ONLY. CONTENT POSTED BY MEMBERS DOES NOT NECESSARILY REFLECT THE OPINION OR BELIEFS OF ALPHAMAVEN AND HAS NOT ALWAYS BEEN INDEPENDENTLY VERIFIED BY ALPHAMAVEN. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. THIS IS NOT A SOLICITATION FOR INVESTMENT. THE MATERIAL PROVIDED HEREIN IS FOR INFORMATIONAL PURPOSES ONLY. IT DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY INTERESTS OF ANY FUND OR ANY OTHER SECURITIES. ANY SUCH OFFERINGS CAN BE MADE ONLY IN ACCORDANCE WITH THE TERMS AND CONDITIONS SET FORTH IN THE INVESTMENT'S PRIVATE PLACEMENT MEMORANDUM. PRIOR TO INVESTING, INVESTORS ARE STRONGLY URGED TO REVIEW CAREFULLY THE PRIVATE PLACEMENT MEMORANDUM (INCLUDING THE RISK FACTORS DESCRIBED THEREIN), THE LIMITED PARTNERSHIP AGREEMENT AND THE SUBSCRIPTION DOCUMENTS, TO ASK SUCH QUESTIONS OF THE INVESTMENT MANAGER AS THEY DEEM APPROPRIATE, AND TO DISCUSS ANY PROSPECTIVE INVESTMENT IN THE FUND WITH THEIR LEGAL AND TAX ADVISERS IN ORDER TO MAKE AN INDEPENDENT DETERMINATION OF THE SUITABILITY AND CONSEQUENCES OF AN INVESTMENT.