LeapRate's Daily Forex Industry Newsletter
Join now to receive first access to our EXCLUSIVE reports and updates.
Screenshot of a breaking news alert e-mail from Q2 2017
Forex ECN Hotspot FX, a CBOE Holdings, Inc. (NASDAQ:CBOE) company, announced Mike Cahill’s appointment to the firm’s London-based sales team.
Mr. Cahill, who was previously responsible for relationship management within KCG’s FX market-making business, joins Hotspot as a Director, FX Sales, and will be responsible for covering European systematic trading and asset management firms. Based in London, Cahill will report to Ben Leit, Head of European FX Sales at Hotspot.
As we build new functionality and features, and broaden our ambitions for Hotspot both in established and growth markets, it’s important we maintain our long record of outstanding client service and support with a determined and expert sales team,” Leit commented. “Mike’s appointment, will strengthen our business in a key area of geographical focus and I’m delighted to welcome him to our fast-growing team.
Mr. Cahill brings extensive sell-side experience to his new role. Prior to joining KCG, where he worked for three years, he spent seven years at Morgan Stanley, finishing his tenure as a Vice President of Foreign Exchange Sales. He then moved to Nomura, where he served as Vice President and Head of eFX Sales for the Americas. He is a graduate of Syracuse University in New York.
Hotspot has enjoyed a strong 2017. In the first half of the year, the platform traded average daily notional value of $28.4 billion in spot FX, up 5.4 percent from full-year 2016. Further, Hotspot’s spot FX market share in the same six-month period rose to 12.9 percent, up 1.3 percentage points from the fourth quarter of 2016.