Hot spot FX management to be replaced explained by professional Forex trading experts the “Hot spot FX management to be replaced” FX trading team.
Hot spot FX management to be replaced
In what seems like a clear sign that the merged Knight Capital and Getco company will look to sell its Forex ECN division Hotspot FX, Knight Capital announced today that post-merger, the Currencies division (namely, Hotspot FX) will be run an interim basis by Darren Mast, Getco’s COO.
As part of Knight Capital’s wider announcement of who will run which part of the merged company, the Currencies group was assigned an “Interim” head, leading us further to believe that Hotspot FX itself will be interim in the long range plans of the merged entity.
As we have written earlier, based on comparables such as the recent $625 million acquisition of FXall by Thomson Reuters, we estimate that a sale of Hotspot FX could fetch around $150 million. Knight acquired Hotspot FX in 2006 for $77 million.
Hot spot FX management to be replaced Conclusion
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