Hotspot Appoints Head Of FX Liquidity Analysis

Hotspot, a CBOE Holdings, Inc. company, and a leading market for institutional foreign exchange (FX) trading globally, announced Jon Weinberg’s appointment as Head of FX Liquidity Analysis.

Weinberg, who was previously the Head of Liquidity Management within the FX e-trading group at UBS, takes a newly-created role at Hotspot. He is responsible for creating sophisticated data analytics that will improve and enhance the trading experience of Hotspot’s many hundreds of participants. Based in London, Weinberg reports directly to Bryan Harkins, Head of U.S. Equities and Global FX at CBOE.

“As we add new functionality and features, and broaden our ambitions for Hotspot, it’s important we match our long record of outstanding client service and support with a rigorous focus on the underlying data,” Harkins commented. “Jon’s appointment, and the data-driven systems he’s creating, will strengthen what we do best: help clients source liquidity through a premium order matching and liquidity management process.”

Weinberg has both buy-side and sell-side experience. Prior to joining UBS, he spent four years as a FX Quantitative Electronic Trader at KCG. Before that, he was a Quantitative Analyst at Morgan Stanley, also in a spot FX e-trading group, and a Foreign Exchange Options trader and Quantitative Analyst at BNP Paribas. He is a graduate of McGill University in Montreal and holds a Ph.D. from The Wharton School, at the University of Pennsylvania.

Hotspot has enjoyed a strong start to 2017. In the first quarter, the platform traded average daily notional value of $28.8 billion in spot FX, up 7.9 percent quarter over quarter. Further, Hotspot’s spot FX market share1 for the quarter rose to 12.9%, up 1.3 percent from the fourth quarter of 2016.