Currency trading ECN, Hotspot FX readies for live launch

Currency trading ECN, Hotspot FX readies for live launch

Hotspot FX, a foreign exchange trading application that is designed to transform a currency trader's desktop into a virtual exchange floor, is available for live demonstration in advance of its February 2001 release date.

Displaying depth of market with live, executable prices, Hotspot FX is intended to provide financial institutions, corporations, hedge funds and individual investors with the ability to trade anonymously on a 24-hour basis in a foreign exchange auction market.

"We are gratified by the responses Hotspot FX is getting from some of the leading FX trading houses in the world," says David Ogg, Hotspot FX CEO and a former head of currency trading at HSBC and DrKB. "We anticipate trading to begin on the system within weeks."

Hotspot FX allows multiple bids and offers for each currency and instantaneous execution and confirmation. Additional services include professional margining capability, account protection and help desk support. Short- and long-term economic news and analysis offerings include real time, scrolling news, global economic data and event calendars.

HotSpot FX was founded in January 2000 by a team of senior foreign exchange managers from major international banks. The Company is privately held and venture-backed by the ETF Group and renowned currency trader, Joe Lewis.

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