According to publicly available data by KCG Hotspot, the foreign exchange electronic market place which just got acquired by BATS Global Markets as part of its diversification strategy, has registered a sharp increase in trading volumes during the month of January.
The rebound in the average daily volumes figures comes after three consecutive monthly declines. Throughout the month of January an average of $34.3 billion have changed hands on the electronic trading platform. The figure represents a 24% increase over the company’s numbers in December and is about flat when compared to a year ago.
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In what will remain as one of the most volatile months on the foreign exchange markets in the aftermath of the Swiss National Bank’s decision to drop the EUR/CHF floor at 1.20, the electronic market place is taking on a new era after the acquisition by BATS Global Markets.
The company has announced that all of the employees of KCG Hotspot will be joining the team at BATS.