Bats Hotspot to Launch Outright Forwards for FX Market06.14.2016 By John D'Antona Editor, Traders Magazine
NEW YORK and LONDON – June 14, 2016 – Bats Hotspot today announced plans to offer global trading of outright deliverable forwards contracts, with a launch planned for fall 2016.
A division of Bats Global Markets (Bats: BATS), Bats Hotspot is a leading global foreign exchange market with offices in London, New York and Singapore.
“We are excited to expand the Hotspot product offering to include forwards contracts, meeting what we see as a real client need for additional sources of anonymous liquidity in these products,” said Bats Global Markets CEO Chris Concannon.
The new market will operate as an anonymous order book and will utilize the Hotspot matching engine which migrated to the NY5 data center in Secaucus, N.J., in 2015. The existing Hotspot credit infrastructure will be extended to cater to the new products.
Further information about the planned launch will be announced later this summer. For information on certification, specifications and other details, please contact HotspotSales@bats.com.
About Bats Global Markets, Inc. Bats Global Markets, Inc. (Bats: BATS) is a leading global operator of exchanges and services for financial markets, dedicated to Making Markets Better. Bats is the second-largest stock exchange operator in the U.S., operates the largest stock exchange and trade reporting facility in Europe, and the #1 market globally for ETF trading. We also operate growing ETF listings venues in the U.S. and Europe, two U.S. options exchanges and Bats Hotspot, our global foreign exchange market. ETF.com, a leading provider of ETF news, data and analysis, is a wholly-owned subsidiary. The company is headquartered in Kansas City with offices in New York, London, Chicago, San Francisco and Singapore. Visit bats.com and @BatsGlobal for more information.
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