Hotspot, an institutional Forex market owned and operated by BATS Global Markets (BATS), today announced the completion of another major infrastructure development, as the migration of its U.S. matching engine to the Equinix NY5 data center was successfully completed on Monday, November 9th.
Hotspot’s U.S. matching engine handled over $106 billion in notional value and 1.4 billion orders during the first week of trading. More than 99% of active Hotspot customers have traded in the new U.S. Location, the company said in a statement.
The Equinix NY5 data center houses all of BATS’ U.S. markets including its four equity exchanges – EDGA, EDGX, BYX, BZX – and its two options markets – BZX Options and EDGX Options. Prior to the migration, the Hotspot U.S. matching engine was located in Jersey City, New Jersey.
Chris Isaacson, Executive Vice President and Global Chief Information Officer at BATS, said:
“Since January 2015, we have either migrated or built-from-scratch eight of the ten markets BATS operates around the world, and Hotspot’s move to the NY5 data center is the latest to switch. The ability to execute these major integration projects seamlessly is a testament to the incredible strength and talent of the BATS team.”
Bill Goodbody, Jr., Senior Vice President and Head of FX at BATS, added:
“The migration of Hotspot’s U.S. matching engine was the next step in an aggressive expansion plan we’ve implemented since the acquisition of Hotspot by BATS earlier this year. Alongside a fully-operational London-area matching engine, Hotspot’s market-leading technology is now even stronger and we’re moving into 2016 ideally positioned to compete with the largest of the FX trading platforms.”
The London-area matching engine launched on September 14, 2015 – it targets specific Forex currency pairs that dominate the European and Asian trading hours. Average daily volume (ADV) on Hotspot London over the past 10 trading days was approximately $500 million, with over $1 billion traded on November 6, 2015.
To view the official announcement on the migration, click here.