Hotspot FX adds IPC Systems providing connectivity.
By Eric on Wednesday,
Hotspot, is a leading institutional foreign exchange brokerage (FX) market owned and it operated by Bats Global Markets. Recently it has announced that Hotspot FX adds IPC Systems providing connectivity, enabling IPC diverse ecosystem of buyside and sell-side clients to gain access to the Hotspot market.
Hotspot brings the powerful benefits of an independent, transparent ECN marketplace structure to institutional foreign exchange trading. Hotspot’s ECN model provides increased market transparency and greater control of the trading process, enabling better trade execution and lower transaction costs.
“We’re pleased to partner with industry providers like IPC to allow our member’s most flexibility and connectivity efficiencies in accessing our market,” said Bill Goodbody, Jr., Senior Vice President and Head of FX at Bats about Hotspot FX adds IPC Systems providing connectivity. “We strive to give our customers with connectivity choice and we are pleased to have IPC on board as a partner, providing more customers access to the strong liquidity on Hotspot.”
“Connectivity is a critical element for institutional FX investors to source liquidity, trade effectively, achieves the best execution, and mitigate risk,” said David Brown, Senior Vice President and Managing Director, Financial Markets Network, IPC. “We welcome Hotspot to our global FX Hub and are thrilled to connect FX market participants to them through our reliable and secure financial markets private cloud.”
The IPC Financial Markets Network service portfolio includes the Connexus Financial Extranet, Direct Connect, and MPLS WAN data services, as well as Trader and Enhanced Voice connectivity services. IPC’s Financial Markets Network interconnects global financial centers and allows access to more than 6,000 market participant locations in 700 cities in more than 60 countries.
Hotspot’s average daily volume (ADV) in April 2016 was $25.6 billion and total trading volume was $537.4 billion. The company’s diverse customer base is comprised of more than 220 clients including banks, market makers, hedge funds and various institutions. Additional information is available at hotspotfx.com.
About Bats Global Markets
Bats Global Markets, Inc. (Bats: BATS), is a leading operator of exchanges and services for financial markets around the world with a stated mission of Making Markets Better. Bats run the largest equities exchange in Europe and the continent’s largest trade reporting facility. In the U.S., Bats operates four stock exchanges, which taken together join the largest market for ETF trading and the second-largest equities market in the country. Bats also run two U.S. options markets. Bats own Hotspot, a leading institutional spot foreign exchange market, and ETF.com, a leading provider of ETF news, data, and analysis. The company is headquartered in Kansas City with offices in New York, London, Chicago and Singapore. Visit bats.com and @BatsGlobal for more information.
IPC is a technology and service leader that powers financial markets globally. We help clients expect change and solve problems, setting the standard with industry ability, exceptional service, and comprehensive technology. With customers first and always, we collaborate with each to understand their needs, to help make them secure, productive and compliant within our connected community. Through service excellence, long-developed ability and a focus on innovation and community, we give agile and efficient ways for our customers to accelerate their ability to adapt to the ever–changing requirements for advanced data networks, compliance and collaboration with all counters-parties across the financial markets. www.ipc.com