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Goodbody to Leave Bats Hotspot

Goodbody is set to leave his position as senior vice president, head of FX, at
Bats Hotspot.

spokesperson for the company in New York, where Goodbody is based, confirms the
news. There is no set date for his departure, but a transition period is
planned with the broad expectation that he will officially leave the firm
sometime in January 2017.

has been working at Hotspot since before it was acquired by Bats
Global Markets in March 2015, having been made a managing director at the
platform in 2008 when it was owned by KCG.

He joined
KCG in 2007 having previously worked at Jefferies and Knight Trading Group.

Goodbody is
also currently the secretary of the Foreign
Exchange Professionals Association (FXPA)
, of which Bats is a member.

Profit & Loss understands that Goodbody is not leaving to
take another immediate role in the FX industry and plans to re-locate from New
York to Australia following his departure from Hotspot.

I think that FX is one of the most interesting markets to be involved in right
now, because of the way that the industry is evolving and the dynamic interplay
of how this global market operates,” Goodbody tells Profit & Loss.

continues: “Organisationally, I think that Hotspot has matured a lot over the
last eight-and-a-half years and some of these changes are only becoming
prominent now. Some of the things that we’ve been working on for the past
couple of years, such as developing new products like forwards and even swaps,
and acquiring a SEF, mean that Hotspot is going to be a very different place in
the future than it has been for the past 15 years. And I’m proud to have been a
part of that.”

transaction last year was a high point for us and recognised the value that
we’ve built at Hotspot over the years and now under
we’ll be under a global exchange operator that is going to be able to
push Hotspot to new levels.

“It’s a
very positive change, the organisation has to continue adjusting and maturing
alongside the FX industry. When I started working for Hotspot it had been
around for eight years already, but still functioned very much like a startup
organisation. As the business has grown, we’ve needed to expand intelligently
and that will continue in the future.”

Goodbody gone, Profit & Loss understands that Sean Cleary is taking responsibility for sales and Bryan Harkins, executive vice president, head of US markets, at
Bats, will take over global FX.

Colin Lambert

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