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IPC becomes Hotspot connectivity provider

24 May 2016  |  2224 views  |  0 Source: IPC Systems

Hotspot, a leading institutional foreign exchange (FX) market owned and operated by Bats Global Markets (BATS), and IPC Systems, Inc., a leading global provider of specialized communications and managed network-as-a-service solutions for the financial trading community, today announced that IPC is now a connectivity provider to Hotspot, enabling IPC’s diverse ecosystem of buy-side and sell-side clients to gain access to the Hotspot market.

Hotspot brings the powerful benefits of an independent, transparent ECN marketplace structure to institutional foreign exchange trading. Hotspot's ECN model provides increased market transparency and greater control of the trading process, enabling better trade execution and lower transaction costs.

“We’re pleased to partner with industry providers like IPC to allow our members maximum flexibility and connectivity efficiencies in accessing our market,” said Bill Goodbody, Jr., Senior Vice President and Head of FX at Bats. “We strive to provide our customers with connectivity choice and we are pleased to have IPC on board as a partner, providing more customers access to the strong liquidity on Hotspot.”

“Connectivity is a critical element for institutional FX investors to source liquidity, trade effectively, achieve best execution, and mitigate risk,” said David Brown, Senior Vice President and Managing Director, Financial Markets Network, IPC. “We welcome Hotspot to our global FX Hub and are thrilled to connect FX market participants to them through our reliable and secure financial markets private cloud.”

The IPC Financial Markets Network service portfolio includes the Connexus Financial Extranet, Direct Connect and MPLS WAN data services, as well as Trader and Enhanced Voice connectivity services. IPC’s Financial Markets Network interconnects global financial centers and allows access to more than 6,000 market participant locations across 700 cities in more than 60 countries.

Hotspot’s average daily volume (ADV) in April 2016 was $25.6 billion and total trading volume was $537.4 billion. The company’s diverse customer base is comprised of more than 220 clients including banks, market makers, hedge funds and various institutions. Additional information is available at hotspotfx.com. 

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