FXSpotStream’s no-fee business model raises eyebrows

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The recent launch of FXSpotStream, a bank-backed spot foreign exchange price aggregation service that allows clients to place orders through a single connection and have them routed to their chosen liquidity provider, has sparked questions over how long it can survive without charging fees.

The startup venture is pitched as a market utility that will charge no brokerage fees either to its clients or its liquidity banks, which include Bank of America Merrill Lynch, Citi, Commerzbank, Goldman Sach

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