Bats moves to acquire Javelin SEF
The planned acquisition signals the exchange operator's aggressive push to include non-spot FX instruments among its product offerings
Bats Global Markets plans to acquire swap execution facility Javelin SEF, a move that, if approved, will expand the exchange operator's foreign exchange product offering to include the trading of non-deliverable forwards (NDFs).
The August 11 announcement comes nearly two months after Bats, the parent company of FX platform Hotspot, revealed plans to offer global trading of outright deliverable forwards contracts this autumn, signaling its aggressive push to branch out into non-spot FX
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