BATS Global Markets' announcement that it would acquire Hotspot FX for $365 million showed just how badly it wanted to become a major player in the foreign exchange market.
BATS President Chris Concannon helped shed some light on why:
Q: So why buy Hotspot FX and why now?
A: Hotspot FX has been in the foreign exchange (FX) arena for quite some time and it's been growing nicely over the years. Globally, the FX market has historically grown around 11 percent a year. So it's a very attractive market.
As…
BATS Global Markets' announcement that it would acquire Hotspot FX for $365 million showed just how badly it wanted to become a major player in the foreign exchange market.
BATS President Chris Concannon helped shed some light on why:
Q: So why buy Hotspot FX and why now?
A: Hotspot FX has been in the foreign exchange (FX) arena for quite some time and it's been growing nicely over the years. Globally, the FX market has historically grown around 11 percent a year. So it's a very attractive market.
As…