Rumours had been swirling around about the fate of ECN Hotspot for weeks. Many commented that with legendary billionaire currency speculator Joe Lewis as one of its backers, Hotspot was unlikely to be experiencing a cash crunch. Nonetheless, its present owners have seen fit to accept an all-cash bid of about $77.5 million for the business from Knight Capital Group. The close of the transaction is subject to receipt of appropriate regulatory approval and is expected to be completed within 90 days of its announcement on January 24.

Bankers and investors question the slew of Latin American perp issues.

First-of-a-kind deal exploits strong interest in regional IPOs.

The only court-sanctioned committee representing shareholders in the Winn-Dixie Chapter 11 restructuring has been disbanded by a US Justice Department official at the request of a group of unsecured creditors. This leaves shareholders without any official representation in the reorganization plans of the chain-store group.

Just a few years ago, mezzanine finance was very much an alien concept in central Europe. That changed in 2003 with the arrival of the region’s first dedicated mezzanine fund. Today, mezzanine provision is booming, and its proponents hope it can play a significant part in the leveraged buyout boom predicted for the region. Kathryn Wells reports.

Moody’s says that it intends to keep GMAC’s senior unsecured Ba1 rating under review for the time being, breaking its rule of resolving ratings within three months of announcing a review.

Aegis – the ABS fund manager established by Richard Stow and Miguel Alcober two years ago – has sold its first CDO, Cavendish Square Funding, via BNP Paribas.

Citigroup wants to pioneer a new type of private banking for active wealth creators. Helen Avery speaks to the man who aims to drive the firm forward.

Iraq has completed a ground-breaking debt exchange that will involve Iraqi risk being actively traded for the first time in emerging market indices. It's a $2.7 billion Eurobond to join emerging market indices, boosting liquidity.

It might make sense for hedge funds to buy traditional asset managers. When Citigroup sold off its asset management arm to Legg Mason last year, leaving the focus on its separate alternatives business, it supported the belief of many in the market that traditional asset management was becoming something of a dinosaur.