SEC Approves BATS as Securities Exchange
First Published Tuesday, 19 August 2008 from Automated Trader : Exchange News
BATS Trading Inc. receives approval from the U.S. Securities and Exchange Commission to operate as a registered national securities exchange
Joe Ratterman, CE, BATS: "“BATS is thankful to all of its subscribers, investors and supporters in the industry, who have played such a major role in our success."
BATS filed for exchange status in November 2007.
“It’s a very gratifying day for the BATS team, and an important moment for the marketplace as a whole,” BATS Chief Executive Joe Ratterman said. “As we have stressed repeatedly, our motivation to become an exchange has come from our desire to participate directly in the national market system and compete on a level playing field with our primary competitors, Nasdaq and the New York Stock Exchange.
“BATS is thankful to all of its subscribers, investors and supporters in the industry, who have played such a major role in our success. We are also thankful to the staff at the SEC, who worked diligently in processing our exchange application, which helped us to meet our internal goal of obtaining exchange status before year end 2008.
The approval to operate as a national securities exchange gives us even more reason to pursue our strategy of Making Markets Better. We realize there is a lot of hard work ahead of us as we take on added regulatory responsibility, but we look forward to the challenge and the opportunity to provide exchange services to our members.” he said.
- Automated Trader Updates
Having become the first to offer Sponsored Access via NASDAQ OMX Europe last week, this week Barclays Capital became the latest investor in BIDS Trading ATS bringing the total number of investors to twelve....continued
- BATS Exchange to offer new market data products on subscription basis
Joe Ratterman, CEO, BATS Global Markets and BATS Exchange: "We are excited to expand our market data services with the rollout of a new line of BATS Exchange data products to complement our core real-time data offerings." BATS Exchange plans to offer a new line of market data products on a subscription basis to members and market data recipients, releasing the first product, BATS Last Sale Feed, in spring 2010, pending regulatory approval....continued
- NYSE catalyst for HFT growth
Automated Trader's David Clayden caught up with Brian Hyndman, SVP Transaction Services, Nasdaq OMX and one of the panelists at the RTS hosted "US Equity Forum" in New York last week to find out about Nasdaq OMX's offering to the high frequency trading community. With high frequency trading now accounting for 55 to 65% of Nasdaq OMX volumes, Hyndman talks about the inherent reliability and scaleability of their platform, and cites NYSE's move from floor to electronic trading approximately three years ago as the catalyst to exponential growth in high frequency trading....continued
More Like This...
You can get news like this delivered directly to your email inbox as a real-time alert or as part of a daily/weekly summary.
Click here to set your preferences now!
