Following hot on the heels of its second ownership change in a relatively short time, Hotspot is maintaining the momentum of change by launching new products, specifically outright deliverable forwards. It has also announced a raft of new hires and sought to broaden its geographical footprint. Galen Stops speaks to senior staff at the platform about what these changes - which include the addition of non-deliverable forwards to the platform - are building towards, as well as their view on the changing FX market structure.
Cboe has formed a Markets division to unify product, sales, business development and account coverage personnel across the company's US equities and options, ETP listings, global derivatives and FX businesses.
The new division will be supported by multi-asset resource teams and headed by Andy Lowenthal and Bryan Harkins, who have been appointed executive vice presidents and co-heads. Lowenthal has been leading Cboe's global derivatives group, while Harkins led Cboe's US equities business, comprising four distinct stock exchanges, as well as the firm's global FX business