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Screenshot of a breaking news alert e-mail from Q2 2017
Managed FX distribution platform DealHub announced today that KCG’s institutional FX ECN HotSpot, is the latest trading platform to connect to the firm’s FX Distribution Hub service. The move will allow existing DealHub customers, as well as new price makers and takers, to quickly and cost effectively connect to KCG HotSpot, including the firm’s newly launched HotSpot QT dark liquidity pool, via the ‘connectivity as a service’ platform.
This development represents a further refinement in Hotspot FX’s fortunes as the company has gone from strength to strength in terms of volumes, with last week’s high points leading to parent company KCG considering the sale of its FX division.
DealHub has been increasing its presence within the non-bank market, building further on its omnipresent core business within the bank FX sector.
Bill Goodbody, Managing Director & Head of Sales at KCG Hotspot comments “Our focus has consistently been on providing our clients with bespoke solutions that help them access liquidity and reduce friction in their workflow. As we deliver innovative new liquidity solutions including HotSpot QT, and continue to experience rapid volume growth, joining FX Distribution Hub is a natural step in helping us meet the increasing demand from new price makers and takers who want to connect quickly and easily to our deep
DealHub considers that one simple interface to the Hub provides access to the majority of trading venues and a rapidly growing community of direct counterparties, reducing the cost and time to market of trading connectivity, while taking advantage of DealHub’s high performance, co-located infrastructure and venue specific pricing logic. FX Distribution Hub forms an integral part of DealHub RefleX, the firm’s modular eFX platform launched last month.
Chris Leaver, COO at DealHub comments “We’re delighted to welcome KCG HotSpot to FX Distribution Hub. We’ve reached the point where the cost, time to market and performance benefits of the Hub are well established for banks looking to extend their venue distribution and the Hotspot platform is emerging as a priority for both new and existing customers.
With the launch of DealHub RefleX last month, we’re now able offer banks an incredibly flexible route to high performance eFX – whether they’re upgrading an existing platform, or taking their first steps in the market” concluded Mr. Leaver.