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Bats Hotspot to launch outright forwards for FX market

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Bats Hotspot has 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 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,” says Bats Global Markets CEO Chris Concannon.

The new market will operate as an anonymous order book and will utilise the Hotspot matching engine which migrated to the NY5 data centre in Secaucus, NJ, in 2015. The existing Hotspot credit infrastructure will be extended to cater to the new products.

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