Bats Hotspot to Launch Outright Deliverable FX Forwards Contracts

Leading Exchange operator in the US and Europe, Bats Global Markets (BATS), today had its Bats Hotspot division announce plans to launch global trading of outright deliverable forwards contracts for the foreign exchange (FX) market, according to an official announcement.

The new deliverable FX forwards will operate as an anonymous order book and utilize the hotspot matching engine and the new contracts are expected to be available during fall 2016, with further details expected in the summer.

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Expected Fall 2016 launch

“We are excited to expand the Hotspot product offering to include forward contracts, meeting what we see as a real client need for additional sources of anonymous Liquidity in these products,” said Bats Global Markets CEO Chris Concannon, commenting in a corporate statement.

Bats Hotspot is a leading operator of global foreign exchange markets and has offices in London, New York and Singapore, and plans to extend its existing Hotspot credit infrastructure to cater to the new products. The company already has a dominant market position in equities across the US and Europe and apparently is planning to increase its FX position as well with the new product plans underway.

The news follows after BATS announced just yesterday the launch of new indexes in Europe - including one that could challenge the FTSE 100 benchmark, and following Finance Magnates' coverage of the BATS purchasing ETF.com several months earlier.