smartTrade Technologies has partnered with LiquidityMatch LLC to power RateStream, a new Fixed Income streaming solution launching in the US Treasuries market. The partnership, announced on May 28, 2026, extends the technology infrastructure already supporting FXSpotStream, which recorded $173.6 billion in average daily volume during March 2026—a 48.5% year-on-year increase.
- FXSpotStream ADV (March 2026): $173.6 billion
- Year-on-year growth: 48.5%
- Initial asset class: US Treasuries
- Planned expansion (2026): European Government Bonds and additional liquidity providers
- Trading model: No-cost-to-taker
RateStream adopts the no-cost-to-taker model pioneered by FXSpotStream and applies it to Fixed Income markets. The platform leverages smartTrade’s multi-asset trading technology, which the company has deployed across FX, Precious Metals, Money Markets, Crypto, and Derivatives. smartTrade said the platform demonstrates its capability to support both buy-side and sell-side institutions within a single infrastructure foundation.
RateStream represents a significant moment for the Fixed Income market and a powerful demonstration of what a natively cross-asset platform can deliver. By extending our proven technology into a new bank-owned venue, we are reinforcing what smartTrade clients already know: a single, modular, and operationally robust platform can deliver world-class trading and venue solutions across every asset class.
— David Vincent, CEO & Co-Founder, smartTrade Technologies
The partnership builds on an existing technology relationship between the two firms. Jeff Ward, CEO of both FXSpotStream and RateStream, noted that extending the partnership to Fixed Income was a natural progression, citing the platform’s track record of handling sustained volumes while maintaining ultra-low latency and operational stability. The shared technology foundation is intended to deliver consistency in performance and user experience across both FX and Fixed Income products, allowing clients to integrate and scale more efficiently.
smartTrade Technologies, headquartered in France, provides multi-asset electronic trading and payments solutions through a SaaS model, with offerings including LiquidityFX for end-to-end trading, Commercial Banking & Payments for cross-border transactions, and FX Derivatives for options and interest rate products.
