FXSpotStream looks to growth products beyond spot
New chief exec Jeff Ward highlights NDFs and FX swaps as next boom area for the venue
FXSpotStream may soon need to consider a name change. Since its 2011 launch, the firm has elbowed its way into the competitive spot foreign exchange market with its pitch of zero brokerage fees, helping build impressive trading volumes of $66 billion per day.
But more eye-catching is the growth in non-spot instruments such as non-deliverable forwards (NDFs) and FX swaps. Here, daily volumes have leapt from $10.9 billion a year ago to $25.7 billion in April 2024. FX Spot-and-Non-Spot-Stream
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