Hotspot a good buy for exchanges, says co-founder

KCG puts FX spot platform up for sale


The co-founder of foreign exchange platform Hotspot says exchanges are the most likely businesses to be interested in purchasing the electronic communications network (ECN) from KCG as it will enable them to build out an FX business more efficiently.

"Exchanges will have the most interest in it, particularly those that might be looking to build an FX business or have struggled to do so in the past," says Steve Reich, who sold the business to Knight Capital for $77.5 million in cash in 2006.


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