smartTrade provides liquidity aggregation technology for newly launched market utility
Paris and New York, May 16, 2012 smartTrade Technologies today announced that FXSpotStream LLC, the recently announced multibank Spot FX price aggregation service, is powered by smartTrade’s Liquidity Management System.
From FXSpotStream’s initial hosting site in the U.S., smartTrade’s technology supports the FXSpotStream multibank FX aggregation service allowing clients to access liquidity from the FXSpotStream liquidity providers through a single API (application programming interface). Clients can place orders through a single connection and have them routed directly to their specified liquidity providers.
Alan F. Schwarz, CEO, stated: “FXSpotStream provides banks and clients the ability to communicate bilaterally using a solution that does not interfere with the transaction, is transparent and eliminates the cost of execution.”
“After a careful review of smartTrade’s technology, we chose smartTrade because they offered a proven system and demonstrated that they would be able to meet all of our requirements,” said Schwarz.
Harry Gozlan, CEO and Founder of smartTrade said: “We are extremely pleased to have been selected by FXSpotStream and the consortium to provide the end-to-end technology solution needed for its clients to communicate with each other in a fast, reliable and transparent manner. Our technology solutions are used by some of the largest FX market participants and banks in the market and have been proven for functionality, scalability and redundancy.”