Knight Capital Group to acquire Hotspot FX
Knight Capital Group, Inc.
Knight Capital Group, Inc. has agreed to acquire Hotspot FX, Inc. The transaction is expected to close later this month subject to regulatory approvals, afterwhich Hotspot FX will operate as a separate subsidiary of Knight Capital Group.<br>
Thomas M. Joyce
"The addition of Hotspot advances Knight's ambition to become a virtual exchange for high-quality trade execution across multiple asset classes," said Thomas M. Joyce, Chairman and Chief Executive Officer of Knight Capital Group. "In an increasingly fragmented market, clients want a centralized source for deep liquidity in the widest variety of securities.<br><br>"Both firms share a culture of client service and both are deeply committed to driving market innovation through creative technologies and market structures," said John H. Eley, President and Chief Executive Officer, Hotspot FX Inc. "Knight has strong client relationships and deep technology resources that will help take the Hotspot FX marketplaces to the next level."