WATCHUNG, N.J.–(BUSINESS WIRE)–Dec. 17, 2003–Hotspot FXi and AKJensen, Inc. (AKJ) announced today that Hotspot FXi’s institutional foreign exchange marketplace will be available via AKJ ExNet. Thearrangement will enable ExNet customers to execute spot foreign exchange transactions in all major currency pairs and cross rates exclusively on Hotspot FXi’s open FX marketplace.
“Hotspot FXi is the leading, open foreign exchange marketplace. With its addition to ExNet, our customers are now able to trade foreign exchange outright as well as manage currency risk in their international investment activities more efficiently,” said Malcolm Donaldson, CEO of AKJ.
AKJ ExNet is an order routing platform that connects traders with a secure, single point of trade entry to 51 securities and derivatives markets and exchanges worldwide. ExNet is FIX compliant and provides straight-through-processing as well as other operational and cost efficiencies to institutional traders.
Hotspot FXi’s open foreign exchange marketplace enables all traders to view full market depth, enter bids and offers and trade instantly on live, executable prices provided by multiple bank market makers and one another, all with complete anonymity.
“Hotspot FXi’s unique market structure has been widely adopted by foreign exchange traders at hedge funds, CTAs, institutional asset managers, corporations and banks,” said John H. Eley, CEO of Hotspot FXi. “By partnering with AKJ, we will extend the benefits of our marketplace to the broader financial and investment community.”
About AKJ
Founded in 1995, AKJensen, Inc. (AKJ) is a global introducing broker acting as Agent arranging deals between authorized institutions. AKJ’s ExNet is a proprietary technology that offers institutional traders a single point of access to global liquidity. An independent company that merges its deep brokerage experience and understanding with cutting edge technology and order routing software, AKJ developed ExNet to reduce transaction costs while extending its clients global reach for best execution. For more information, visit www.akj.com.
About Hotspot FXi
Hotspot FX Inc, the parent of Hotspot FXi, was formed in June of 2000 by a team of senior foreign exchange executives from major banks and investment houses. Hotspot FXi is the first marketplace that enables traders at hedge funds, commodity trading advisors, asset managers, other financial institutions and corporations to see full market depth and trade spot foreign exchange directly, instantly, and anonymously with banks and one another.
Hotspot FXi market maker and prime brokerage partner banks are among the largest and most successful global financial institutions. Bloomberg Professional subscribers can access Hotspot FXi’s live, executable market data on page HSFX. For further information, visit the Hotspot FXi web site at www.hotspotfxi.com or e-mail [email protected].
