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Screenshot of a breaking news alert e-mail from Q2 2017
Good timing for Knight Capital’s soon-to-be new owners, who will soon likely put Hotspot FX on the sale block.
Hotspot FX reported that volumes in its Forex ECN system rose by 38% in January over December levels, to average $27.1 billion daily. January 2013 was also 10% above January 2012’s averages. The numbers from Hotspot FX basically match what we already seen from the other leading Forex ECNs FXall and ICAP EBS.
The timing of Hotspot FX’s volume rise could indeed be fortuitous for Getco, which is nearing the closing of its acquisition of Knight Capital, Hotspot’s parent company. We expect Getco to look to sell Hotspot FX soon after the deal closes.
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