Either way, likely that Hotspot FX finds a new home. Things sure can move fast on Wall Street. Just several hours after we blogged about (likely) potential bids emerging for the entirety of market-maker Knight Capital -- not just for one of its divisions, which was the topic of a weekend Wall Street Journal article…
Read moreAcquisition rumors swirl around Knight Capital after weekend WSJ article. The parent company of Forex ECN Hotspot FX, Knight Capital (NYSE: KCG), has seen its shares spike by about 20% the past two trading days, since a Wall Street Journal weekend article stated that Knight was weighing the sale of its main equity market-market business…
Read more... but parent Knight Capital continues its comeback from the August "glitch". Hotspot FX reported that volumes in its Forex ECN system fell in October to average $22.7 billion daily, down 12% from September's $25.8 billion -- and down 34% from last-year October's $34.2 billion. The October decrease is basically in line with what we…
Read moreFirm volumes overall recover nicely following August "glitch". Brokerage firm Knight Capital -- which famously nearly went under in early August after a trading glitch in its equities business caused a $400 million loss -- announced its volumes for September, and in most key categories things seem to have stabilized. In its Forex ECN unit…
Read moreHotspot FX would likely fetch $150-200 million. In comments made to reporters on the sidelines of a Security Traders Association conference on Friday, and reported by Reuters, Knight Capital CEO Tom Joyce said that the company is unlikely to shed any of its major business units -- which include Forex ECN Hotspot FX -- as Knight looks…
Read moreAll leading Forex ECNs have now reported a very slow April.
Read moreFirst-of-its-kind measure of retail FX volumes globally.
Read moreForex ECNs each report fairly steady March volumes.
Read moreIs a buyer emerging for the entirety of Knight Capital?
Read moreHotspot FX would likely fetch $150-200 million.
Read more