Online foreign exchange trading platform Hotspot FX has launched a new operating arm, HotSpot FXi, to deliver an electronic marketplace for institutional FX dealing.
Participating institutions will be able to deal on live spot foreign exchange prices and will have the ability to enter live bids and offers for electronic matching. Users will access the Hotspot FXi marketplace either directly or via a Hotspot FXi participant.
AIG International Inc. (AIGI) is to be the initial liquidity provider and will be establishing prime brokerage relationships with qualified investors interested in trading on this new platform. Hotspot FXi says it expects to add additional top-tier liquidity providers in the near future.
Hotspot FX went live with its electronic communications network in Feburary this year. The company has yet to release details of transaction volumes or values executed over the platform.