Hotspot FX reports robust February volumes
Hotspot FX reports robust February volumes explained by professional Forex trading experts the “Hotspot FX reports robust February volumes” FX trading team.
Hotspot FX reports robust February volumes
Hotspot FX reported that volumes in its Forex ECN system rose by 11% in February over January levels, to average $30.1 billion daily. February 2013 was also 2% above Feb 2012’s averages. The numbers from Hotspot FX basically match what we already seen from the other leading Forex ECNs FXall, Thomson Reuters, and ICAP EBS.
The timing of Hotspot FX’s volume rise could indeed be fortuitous for Getco, which is nearing the closing of its acquisition of Knight Capital, Hotspot’s parent company. We expect Getco to look to sell Hotspot FX soon after the deal closes, with estimates of Hotspot FX’s valuation in the $150-200 million range. Reports are that Getco will also be selling Knight’s bond business to brokerage firm Stifel Financial.
Hotspot FX reports robust February volumes Conclusion
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