As global exchanges vie for a slice of the global forex market, BATS Global Markets launches FX matching engine in London.
After months of hype, leading markets operator, BATS Global Markets, has gone live with its new London FX matching engine, which will operate under newly-acquired subsidiary, HotSpot FX.
The London matching engines will complement HotSpot’s US-based FX matching engine, and cater to the European and Asian markets. Indeed, the new matching engine, which is located close to the existing BATS infrastructure in the London Slough Campus data centres, will target specific FX currencies that dominate the European and Asian trading hours.
Matching describes one of the main types of processes by which banks and other major financial institutions trade currencies with each other.
Source: TheCityUK
The strategic move seeks to take advantage of the fact that London remains the biggest geographic currency trading centre, with Europe generally accounting for more than half of currency trading globally. Indeed, it was estimated in 2010 that the city’s share of global turnover in traditional forex transactions was 36.7%.
For BATS Global Markets, the launch of the new London matching engine is a logical continuation of the acquisition of Hotspot FX. In a world which is increasingly interested in accessing and trading several asset classes, the ability to provide access to the forex market is key to success.
With Hotspot now under the BATS Global Markets umbrella, the timing is also ideal to leverage what BATS brings to the combination.
In a statement, BATS emphasised, “With Hotspot now under the BATS Global Markets umbrella, the timing is also ideal to leverage what BATS brings to the combination in terms of relationships, infrastructure and support as the operator of Europe’s largest stock exchange, BATS Chi-X Europe, and Europe’s largest trade reporting facility, BXTR.”
In a letter to clients and members, Chris Concannon, CEO of BATS Global Markets, echoed this sentiment: “Naturally, we will leverage the BATS infrastructure and personnel we’ve used to build Europe’s largest stock market as we grow our FX business.”
In the lead-up to the launch, the company has been vocal in drawing attention to its new offer. Accordingly, it has announced plans to incentivise customers by offering free trading for all transactions on its London-based matching engine to the end of 2015.
According to Chris Concannon, Chief Executive of Bats Global Markets: “End users are getting used to technology where they have a full view of the market. They are accessing more markets than they could ever do 10 years ago.”
Moreover, Nasdaq came to the party in August, announcing plans to enter the forex market not through acquisition but via the launch of a platform for forex trading in 2016. Nasdaq’s new forex trading platform would seek to rival the current electronic forex trading platforms, including EBS, owned by ICAP PLC (LON: IAP), and Thomson Reuters Dealing, owned by Thomson Reuters Corp (TSE: TRI), along with other trading systems offered by major banks.
However, the exchanges have been facing headwinds in trying to displace the forex establishment – the well-established platforms and global banks. Hotspot recorded multi-year lows, with an 8.6% MoM decline in July.
After months of hype, leading markets operator, BATS Global Markets, has gone live with its new London FX matching engine, which will operate under newly-acquired subsidiary, HotSpot FX.
The London matching engines will complement HotSpot’s US-based FX matching engine, and cater to the European and Asian markets. Indeed, the new matching engine, which is located close to the existing BATS infrastructure in the London Slough Campus data centres, will target specific FX currencies that dominate the European and Asian trading hours.
Matching describes one of the main types of processes by which banks and other major financial institutions trade currencies with each other.
Source: TheCityUK
The strategic move seeks to take advantage of the fact that London remains the biggest geographic currency trading centre, with Europe generally accounting for more than half of currency trading globally. Indeed, it was estimated in 2010 that the city’s share of global turnover in traditional forex transactions was 36.7%.
For BATS Global Markets, the launch of the new London matching engine is a logical continuation of the acquisition of Hotspot FX. In a world which is increasingly interested in accessing and trading several asset classes, the ability to provide access to the forex market is key to success.
With Hotspot now under the BATS Global Markets umbrella, the timing is also ideal to leverage what BATS brings to the combination.
In a statement, BATS emphasised, “With Hotspot now under the BATS Global Markets umbrella, the timing is also ideal to leverage what BATS brings to the combination in terms of relationships, infrastructure and support as the operator of Europe’s largest stock exchange, BATS Chi-X Europe, and Europe’s largest trade reporting facility, BXTR.”
In a letter to clients and members, Chris Concannon, CEO of BATS Global Markets, echoed this sentiment: “Naturally, we will leverage the BATS infrastructure and personnel we’ve used to build Europe’s largest stock market as we grow our FX business.”
In the lead-up to the launch, the company has been vocal in drawing attention to its new offer. Accordingly, it has announced plans to incentivise customers by offering free trading for all transactions on its London-based matching engine to the end of 2015.
According to Chris Concannon, Chief Executive of Bats Global Markets: “End users are getting used to technology where they have a full view of the market. They are accessing more markets than they could ever do 10 years ago.”
Moreover, Nasdaq came to the party in August, announcing plans to enter the forex market not through acquisition but via the launch of a platform for forex trading in 2016. Nasdaq’s new forex trading platform would seek to rival the current electronic forex trading platforms, including EBS, owned by ICAP PLC (LON: IAP), and Thomson Reuters Dealing, owned by Thomson Reuters Corp (TSE: TRI), along with other trading systems offered by major banks.
However, the exchanges have been facing headwinds in trying to displace the forex establishment – the well-established platforms and global banks. Hotspot recorded multi-year lows, with an 8.6% MoM decline in July.
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Most market post-mortems describe what happened to prices. Few describe what happened in the trading room while the position was open: the entry conviction, the moments that tested it, and the exit decision that closed the book.
This session brings one seasoned trader to the stage for an unfiltered account of the position that still defines how they think about markets.
Attendees will walk away with:
-A first-hand account of how a conviction trade is built, from thesis and entry through position management and exit
-Understanding of what turns a market observation into a live position, and what holds it when conditions shift
-Insight into how timing, execution quality, and market structure shaped the final result
-Perspective on what the trade revealed about edge, risk tolerance, and when to hold through a position moving against you
-Clarity on what separates a well-built trade from a well-timed one
Most market post-mortems describe what happened to prices. Few describe what happened in the trading room while the position was open: the entry conviction, the moments that tested it, and the exit decision that closed the book.
This session brings one seasoned trader to the stage for an unfiltered account of the position that still defines how they think about markets.
Attendees will walk away with:
-A first-hand account of how a conviction trade is built, from thesis and entry through position management and exit
-Understanding of what turns a market observation into a live position, and what holds it when conditions shift
-Insight into how timing, execution quality, and market structure shaped the final result
-Perspective on what the trade revealed about edge, risk tolerance, and when to hold through a position moving against you
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Most market post-mortems describe what happened to prices. Few describe what happened in the trading room while the position was open: the entry conviction, the moments that tested it, and the exit decision that closed the book.
This session brings one seasoned trader to the stage for an unfiltered account of the position that still defines how they think about markets.
Attendees will walk away with:
-A first-hand account of how a conviction trade is built, from thesis and entry through position management and exit
-Understanding of what turns a market observation into a live position, and what holds it when conditions shift
-Insight into how timing, execution quality, and market structure shaped the final result
-Perspective on what the trade revealed about edge, risk tolerance, and when to hold through a position moving against you
-Clarity on what separates a well-built trade from a well-timed one
Most market post-mortems describe what happened to prices. Few describe what happened in the trading room while the position was open: the entry conviction, the moments that tested it, and the exit decision that closed the book.
This session brings one seasoned trader to the stage for an unfiltered account of the position that still defines how they think about markets.
Attendees will walk away with:
-A first-hand account of how a conviction trade is built, from thesis and entry through position management and exit
-Understanding of what turns a market observation into a live position, and what holds it when conditions shift
-Insight into how timing, execution quality, and market structure shaped the final result
-Perspective on what the trade revealed about edge, risk tolerance, and when to hold through a position moving against you
-Clarity on what separates a well-built trade from a well-timed one
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This session brings one seasoned trader to the stage for an unfiltered account of the position that still defines how they think about markets.
Attendees will walk away with:
-A first-hand account of how a conviction trade is built, from thesis and entry through position management and exit
-Understanding of what turns a market observation into a live position, and what holds it when conditions shift
-Insight into how timing, execution quality, and market structure shaped the final result
-Perspective on what the trade revealed about edge, risk tolerance, and when to hold through a position moving against you
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-The role of AI in democratizing access to trading tools, insights, and strategy development
-How crypto and blockchain can enable broader participation beyond traditional financial systems
-Addressing access barriers: infrastructure, education, and affordability in underserved communities
-Opportunities for brokers and platforms to tap into the informal trading economy
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-The role of AI in democratizing access to trading tools, insights, and strategy development
-How crypto and blockchain can enable broader participation beyond traditional financial systems
-Addressing access barriers: infrastructure, education, and affordability in underserved communities
-Opportunities for brokers and platforms to tap into the informal trading economy
As crypto and CFD trading continue to expand across Africa, access to advanced tools and market insights remains uneven. This session explores how AI and blockchain can bridge that gap by empowering informal traders and underserved communities to participate more effectively in digital financial markets. The discussion will focus on practical applications of technology to improve accessibility, education, and investment outcomes in both formal and informal sectors.
In this discussion, we will explore:
-The role of AI in democratizing access to trading tools, insights, and strategy development
-How crypto and blockchain can enable broader participation beyond traditional financial systems
-Addressing access barriers: infrastructure, education, and affordability in underserved communities
-Opportunities for brokers and platforms to tap into the informal trading economy
As crypto and CFD trading continue to expand across Africa, access to advanced tools and market insights remains uneven. This session explores how AI and blockchain can bridge that gap by empowering informal traders and underserved communities to participate more effectively in digital financial markets. The discussion will focus on practical applications of technology to improve accessibility, education, and investment outcomes in both formal and informal sectors.
In this discussion, we will explore:
-The role of AI in democratizing access to trading tools, insights, and strategy development
-How crypto and blockchain can enable broader participation beyond traditional financial systems
-Addressing access barriers: infrastructure, education, and affordability in underserved communities
-Opportunities for brokers and platforms to tap into the informal trading economy
As crypto and CFD trading continue to expand across Africa, access to advanced tools and market insights remains uneven. This session explores how AI and blockchain can bridge that gap by empowering informal traders and underserved communities to participate more effectively in digital financial markets. The discussion will focus on practical applications of technology to improve accessibility, education, and investment outcomes in both formal and informal sectors.
In this discussion, we will explore:
-The role of AI in democratizing access to trading tools, insights, and strategy development
-How crypto and blockchain can enable broader participation beyond traditional financial systems
-Addressing access barriers: infrastructure, education, and affordability in underserved communities
-Opportunities for brokers and platforms to tap into the informal trading economy
