BATS-owned FX trading venue Hotspot will be offering free trading on its London-matching engine when it launches next month.
Hotspot announced its plans to launch a matching engine in London to target the European FX market in March this year and the platform is due to go live on 14 September.
It will offer free trading for all transactions from launch until the end of 2015, saying it wants to be aggressive on price and build a market with deep, consistent and stable liquidity.
Chris Concannon, CEO of BATS, said: “Europe is the leading global FX trading centre and a top priority for Hotspot. As the operator of the Continent’s #1 equities market , BATS intends to achieve similar status for our European FX business.”
Hotspot also hopes the London matching engine will help attract participants from Asia while also complimenting its existing New York offering.