Hotspot has announced new standards for Hotspot liquidity providers that qualify as Market Makers, including reduced time-frames for acting on Non-Firm Liquidity and high targeted acceptance rates for such orders.
The Hotspot market provides participants with access to a unique combination of “Firm Liquidity” and “Non-Firm Liquidity.” Firm Liquidity and orders can be provided by all Hotspot market participants, including approved Market Makers, while Non-Firm Liquidity can only be provided by approved Market Makers. Hotspot also offers participants a choice with regard to accessing Non-Firm Liquidity, including a choice of Market Makers with whom to interact.
“We are constantly striving to ensure our customers experience the highest level of fulfillment and market quality on Hotspot. We believe that these new Market Maker standards will further increase fill rates and enhance market quality, creating an even more robust experience for our customers,” said Bill Goodbody, Jr., Senior Vice President, Foreign Exchange at BATS.