Bats and Hotspot FX to launch anonymous order book Outright Deliverable FX Forwards market

Financial exchange operator Bats Global Markets Inc (BATS:BATS) has announced that, alongside its Hotspot FX institutional forex division, it plans to offer global trading of outright deliverable forwards contracts, with a launch planned for fall 2016.

Bats plans for the new market to operate as an anonymous order book, utilizing the Hotspot FX matching engine which migrated to the NY5 data center in Secaucus, N.J., in 2015.

The existing Hotspot credit infrastructure will be extended to cater to the new products.

Bats said that further information about the planned launch will be announced later this summer.

According to Bats Global Markets CEO Chris Concannon,

We are excited to expand the Hotspot product offering to include forwards contracts, meeting what we see as a real client need for additional sources of anonymous liquidity in these products.

Bats has been on an expansion run lately. After going public earlier this year, Bats announced plans to launch 18 new UK focused stock indices, and a liquidity management provider program for exchange-traded products.

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