|FEBRUARY 15, 2011|
|Knight's Hotspot FX Adds SEB as Prime Broker in Its Institutional Foreign Exchange ECN|
JERSEY CITY, N.J. and LONDON, Feb. 15, 2011 /PRNewswire via COMTEX/ --
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 SEK2,180bn while its assets under management totalled SEK1,399bn. The Group has about 17,000 employees, excluding the German retail operations. Read more about SEB at www.sebgroup.com.
Certain statements contained herein may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are not historical facts and are based on current expectations, estimates and projections about the Company's industry, management's beliefs and certain assumptions made by management, many of which, by their nature, are inherently uncertain and beyond our control. Accordingly, readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict including, without limitation, risks associated with changes in market structure, legislative or regulatory rule changes and the costs, integration, performance and operation of businesses recently acquired or developed organically, or that may be acquired or developed organically in the future. Since such statements involve risks and uncertainties, the actual results and performance of the Company may turn out to be materially different from the results expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Unless otherwise required by law, the Company also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made herein. Readers should carefully review the risks and uncertainties disclosed in the Company's reports with the U.S. Securities and Exchange Commission (SEC), including, without limitation, those detailed under the headings "Certain Factors Affecting Results of Operations" and "Risk Factors" in the Company's Annual Report on Form 10-K for the year-ended December 31, 2009, "Risk Factors" in the Company's Quarterly Report on Form 10-Q for the quarter-ended March 31, 2010, and in other reports or documents the Company files with, or furnishes to, the SEC from time to time. This information should also be read in conjunction with the Company's Consolidated Financial Statements and the Notes thereto contained in the Company's Annual Report on Form 10-K for the year-ended December 31, 2009, and in other reports or documents the Company files with, or furnishes to, the SEC from time to time.
SOURCE Knight Capital Group, Inc.