Knight's Hotspot FX Adds SEB as Prime Broker in Its Institutional Foreign Exchange ECNBy Knight Capital Group Inc., PRNE
Monday, February 14, 2011
JERSEY CITY, New Jersey and LONDON, February 15, 2011 - Knight Capital Group, Inc. (NYSE Euronext: KCG) today announced that
Hotspot FX added SEB, a leading Nordic financial services group, as a prime
broker on its institutional foreign exchange ECN.
"We are pleased that SEB has joined the Hotspot FX platform and is making
our FX ECN available to their growing list of prime brokerage clients," said
Zoran Mavrinac, Managing Director responsible for Hotspot's bank
relationships, including market making and prime brokerage. "The addition of
SEB complements our existing prime broker participants by giving Hotspot
greater exposure in the northern and eastern European markets where SEB
excels. We look forward to working closely with SEB to grow our respective
businesses together and to demonstrate the value of the Hotspot FX
marketplace to SEB's clients."
Clients can access Hotspot FX by establishing a prime brokerage
relationship with SEB, or with one of the more than 25 prime brokers on the
platform. Hotspot FX employs a multiple prime broker credit model offering
flexible means of access, including Java and FIX API, as well as a
comprehensive array of order types and FX algorithms. Hotspot FX's ECN
marketplace allows a diverse and expanding client base to access deep
liquidity in 60 currency pairs plus gold and silver with speed, competitive
pricing, full depth-of-book transparency and complete anonymity.
"We welcome Hotspot FX as a new choice for SEB's prime broker clients,"
said Noel Singh, Head of Prime Brokerage at SEB. "Hotspot represents a
valuable alternative FX marketplace for institutions looking for
transparency, unique liquidity and a robust platform. We look forward to
continually expanding our offering across asset classes and borders where we
can add the greatest value to SEB's clients."
Hotspot FX's addition of SEB as a prime broker is just the latest
development for the platform, which experienced strong client and volume
growth in 2010. Average daily volume increased nearly 62% in 2010 compared to
2009, and in January 2011, Hotspot recorded record ADV of $55.6 billion and
total volume of $1.17 trillion. Hotspot FX now has more than 600 user
clients, up approximately 32% in 12 months. Hotspot FX also is ramping up
expansion efforts in Asia and in Europe, where it recently appointed David
Sellers to lead European sales.
Hotspot FX, LLC is a subsidiary of Knight Capital Group, Inc. Hotspot FX
in Europe is a division of Knight Capital Europe Limited.
Knight Capital Group (NYSE Euronext: KCG) is a global financial services
firm that provides access to the capital markets across multiple asset
classes to a broad network of clients, including buy- and sell-side firms,
and corporations. Knight is headquartered in Jersey City, N.J. with a growing
global presence across the Americas, Europe, and the Asia Pacific region. For
further information about Knight, please visit www.knight.com.
SEB is a leading Nordic financial services group. As a relationship bank,
SEB in Sweden and the Baltic countries offers financial advice and a wide
range of financial services. In Denmark, Finland, Norway and Germany the
bank's operations have a strong focus on corporate and investment banking
based on a full-service offering to corporate and institutional clients. The
international nature of SEB's business is reflected in its presence in 20
countries worldwide. On 31 December 2010, the Group's total assets amounted
to SEK 2,180bn while its assets under management totalled SEK 1,399bn. The
Group has about 17,000 employees, excluding the German retail operations.
Read more about SEB at www.sebgroup.com.
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Margaret Wyrwas, Senior Managing Director, Communications, Marketing & Investor Relations, +1-201-557-6954, mwyrwas at knight.com; or Kara Fitzsimmons, Director, Media Relations, +1-201-356-1523, kfitzsimmons at knight.com; or Jonathan Mairs, Vice President, Corporate Communications, +1-201-356-1529 or, jmairs at knight.com
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