RETAIL e-FX PROVIDER
Hotspot FX Private Label
e-Forex talks with John Miesner, Managing Director and Head of Sales at Hotspot FX, about the launch of Hotspot FX Private Label.
John, why did Knight Capital decide to launch the Hotspot FX Private Label business line solution?
Te genesis of a private label offering really came from client demand. We had received numerous inquiries, from existing clients and prospects, asking us to create a competing product. Active clients were extremely happy with their experience on Hotspot and prospective clients were interested in accessing our robust technology.
Initially
we resisted, however the demand was strong enough that we had no choice but to look at the opportunity. Not only did we feel we could provide a better technology solution, we also felt that we could compete and win on commercial terms. We now have an end-to-end, out-of-the box solution for those clients and prospects that are looking to take advantage of the Hotspot FX software and liquidity.
In what ways is Private Label a natural extension of the existing Hotspot FX technology?
Since Hotspot FX is an ECN, we understand and already have the technology required for building an independent marketplace. Our private label users have the opportunity to deploy that very technology, in private label form, to all of their clients. Each private label partner can source its own liquidity and/or access the everyday liquidity that flows through our marketplace.
Te choice is theirs and we will support either solution. 94 | april 2012 e-FOREX
John Miesner
Based on your feedback from customers what key features and functionality are they really looking for in a FX White Label solution?
At the very top of the list, liquidity and tight spreads. Without these, the private label partner does not have a business. As a web-based solution, integration and set up is extremely easy. Additionally, our middle-office software enables the private label partner to board clients, allocate credit and/or margin on a client-by-client basis and manage company and client risk.
In what ways can FX brokers customise your Private Label solution to meet their specific requirements?
In just about any way you can imagine. As I just mentioned, our product allows our clients to carve out credit and price their offering according to the individual risk, trading and profile of each user. Clients can adjust the liquidity on their platforms, picking and choosing amongst liquidity providers to develop just the right mix for their users. And of course, our revamped front end can accommodate different looks, feel and content so that our private label partners are satisfied that their own clients have the right brand experience.
What are the typical deployment times-frames for Private Label?
Once the private label client has opened a Hotspot account, the product can be launched within 24 hours. As a web-based solution, it’s as simple as opening up a browser and downloading the software. In fact, we at Hotspot FX and Knight Capital Group, our parent owner, pride ourselves on our ability to swiftly establish connectivity and set up our trading platforms on desktops around the globe.
PRODUCT REVIEW
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