Hotspot gears up for NDFs following forwards launch

By | May 9, 2017

Market share: Hotspot’s move into non-spot is seen as a gambit to challenge legacy FX platforms

Hotspot is gearing up for the formal launch of non-deliverable forwards (NDFs) on its swap execution facility (Sef) in the coming weeks, the now CBOE-owned venue said as part of its announcement on completing its first anonymous outright forwards trade.

Hotspot’s previous owner, Bats, now part of the CBOE umbrella, acquired registered Sef Javelin in August 2016. The move follows the revision of a Commodity Futures Trading Commission filing dated March 31, which updated the Sef’s rulebook and te

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