Hotspot FX signs up IPC Systems as connectivity provider

Hotspot FX signs up IPC Systems as connectivity provider

Hotspot FX, the institutional forex exchange owned by BATS Global Markets (BATS:BATS) announced that IPC Systems, a global provider of specialized communications solutions for the financial trading market, as its new connectivity provider. This would provide access of the buy-side and sell-side clients of IPC’s ecosystem to the Hotspot market.

“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 VP 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.”

“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,” said David Brown, senior VP and managing director, financial markets network, IPC.

Hotspot FX is owned by BATS Global Markets and is the first Electronic Communication Network (ECN) for the institutional forex market. In April and March the company reported decline in its trading volumes.

Hotspot has more than 220 clients including banks, market makers, hedge funds and various institutions. Trading on Hotspot FX is cleared through leading global clearing banks and prime brokers such as Bank of America, BNP Paribas, Citibank, Deutsche Bank, Goldman Sachs, HSBC, JP Morgan, Morgan Stanley, Societe Generalte, Saxo Bank and FXCM Pro. Clients may also access the Hotspot ECN via other FX brokers such as AxiPrime, FixiPrime, Velocity Trade, Baxter FX, etc.

IPC is a US company specializing in providing technology and communication services to the financial markets. 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 6000 market participant locations across 700 cities in more than 60 countries.

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