FX NOTEBOOK: HotSpot Picked Up Share in 2012
Traders Magazine Online News, February 1, 2013
Knight Capital’s HotSpot FX handled 9.6% of electronic trading last year, up from 8.7% in 2011. Thomas Haskins and Juha Sternberg have left Morgan Stanley. ForexMinute launches as Web service for traders and brokers.
HOTSPOT FX: The electronic communications network owned by Knight Capital Group experienced average daily volume in December of $19.6 billion, a 9.3% decline from the prior month, but a 2.2% increase from a year earlier.
A total of $392.5 billion was transacted on the platform in the month.
In the fourth quarter, average daily volume for HotSpot FX was $21.4 billion and for the full year $25.4 billion.
Its market share for all of 2012 was 9.6%, up from 8.7% in 2011. It competes with ICAP/EBS and Reuters, among other ECN operators offering access to foreign exchange markets.
Its Top Five currency pairs by volume percentage were:
▪ EURUSD 33.76%
▪ USDJPY 16.77%
▪ AUDUSD 10.63%
▪ GBPUSD 9.80%
▪ USDCAD 6.24%
MORGAN STANLEY: Thomas Haskins and Juha Sternberg have left the foreign exchange bank.
Haskins was managing director and head of emerging market and foreign exchange sales for the Americas at Morgan Stanley in New York. He has been a managing director at the bank since December 2006.
Sternberg, based in London, was an executive director in Morgan Stanley's prime-brokerage business. Sternberg joined Morgan Stanley in 2011.
Other recent departures, FXWeek reported, include Kelvin Hebburn, managing director for FX spot trading and Stephane Meissner, vice-president for FX sales.
XTB: The provider of online foreign exchange trading technology said that chief executive Jakub Zablocki is taking on direct responsibility for the firm’s institutional business, X Financial Solutions. He will focus on developing both the business and the technology that supports it. The retail arm of XTB will be controlled by Jakub May, who had led its central Europe and Turkish operations.
FOREXMINUTE: A financial news portal offering economic news to global currency traders has been launched by Global Invest Ltd., based in Belize City, Belize.
The portal, Forexminute.com, provides news and analysis, supplemented by technical charts, trading discussions and information on trading software. The portal includes access to a database of foreign exchange brokers, binary options brokers, stock market brokers and contracts-for-difference brokers.
The services also includes an economic calendar and a forex news widget.
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