All the major Forex ECNs saw a down month, except FXall. Similar to what we've already seen at Forex ECNs EBS and Thomson Reuters, March volumes decreased somewhat at Knight Capital's Hotspot FX after a quick start to the year in January and February. Among the major ECNs only FXall -- holding flat at $110…
Read moreHotspot FX's first month above $30 billion since last June. 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…
Read moreDarren Mast, Getco COO, named Interim Head of Currencies at the merged company. 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…
Read moreGood timing for Knight Capital's soon-to-be new owners, who will soon likely put Hotspot FX on the sale block. Hotspot FX reported that volumes in its Forex ECN system rose by 38% in January over December levels, to average $27.1 billion daily. January 2013 was also 10% above January 2012's averages. The numbers from Hotspot…
Read moreWill Hotspot FX soon have a new owner? Hotspot FX reported that volumes in its Forex ECN system fell in December to average $19.6 billion daily, down 9% from November's $21.6 billion -- but up 2% from last-year December's $19.2 billion. The numbers basically match what we already reported for the overall FX industry, with our Retail…
Read moreGetco likely to divest Knight's non-core assets, including Hotspot FX. Although it has not yet been formally announced, sources close to the situation (and as reported by CNBC) reported that Knight Capital's board will select Getco's offer to buy the company, after Getco raised the cash portion of its bid to $3.60 per Knight share.…
Read moreWill Hotspot FX soon have a new owner? Hotspot FX reported that volumes in its Forex ECN system fell in November to average $21.6 billion daily, down 5% from October's $22.7 billion -- and down 22% from last-year November's $27.9 billion. What's been interesting most of our readers though, it seems, is the future of…
Read moreEither way, likely that Hotspot FX finds a new home. Things sure can move fast on Wall Street. Just several hours after we blogged about (likely) potential bids emerging for the entirety of market-maker Knight Capital -- not just for one of its divisions, which was the topic of a weekend Wall Street Journal article…
Read moreAcquisition rumors swirl around Knight Capital after weekend WSJ article. The parent company of Forex ECN Hotspot FX, Knight Capital (NYSE: KCG), has seen its shares spike by about 20% the past two trading days, since a Wall Street Journal weekend article stated that Knight was weighing the sale of its main equity market-market business…
Read more... but parent Knight Capital continues its comeback from the August "glitch". Hotspot FX reported that volumes in its Forex ECN system fell in October to average $22.7 billion daily, down 12% from September's $25.8 billion -- and down 34% from last-year October's $34.2 billion. The October decrease is basically in line with what we…
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