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Screenshot of a breaking news alert e-mail from Q2 2017
Will Hotspot FX soon have a new owner?
Hotspot FX reported that volumes in its Forex ECN system fell in November to average $21.6 billion daily, down 5% from October’s $22.7 billion — and down 22% from last-year November’s $27.9 billion.
What’s been interesting most of our readers though, it seems, is the future of Hotspot FX since parent company Knight Capital got a buyout offer from rival Getco at the end of November. And now with third rival (in the equity market making business) Virtu being reported by the Wall Street Journal to be preparing a competing bid, an eventual sale of Knight Capital seems more likely. As both Getco and Virtu seem interested mainly (if not solely) in Knight’s main equities business, a sale of Hotspot FX by whichever group ends up buying Knight is a quite logical way to finance part of the purchase price.
Forex Industry Report