KCG Sells HotSpot to BATS Global Markets.

By January 28, 2015 HotSpot FXi

Daniel Coleman, Chief Executive Officer of KCG, remarked, “The sale of Hotspot is expected to realize significant value for KCG’s shareholders while simultaneously allowing us to continue to focus on the expansion of our global FX client market making business. Upon completion of the deal, our focus will be on putting the cash to good use for KCG and our shareholders.”

Coleman continued, “After conducting a thorough and competitive process, it became clear that BATS is the right strategic partner for Hotspot, as well as its clients and employees. BATS and Hotspot share a commitment to technological excellence. This, coupled with the experience, resources and insights derived from operating global multi-asset class markets, ensures that BATS is well positioned to further accelerate Hotspot’s growth.”

Source: KCG HotSpot

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