22 July 2018
Visit www.avoka.com

Morgan Stanley invests in Bats ECN

05 October 2006  |  9320 views  |  0 Morgan Stanley web screen shot

Morgan Stanley has become the second Wall Street firm in as many weeks to invest in Missouri-based ECN operator Bats Trading.

In a short statement, Morgan Stanley says it has acquired an undisclosed minority stake in Bats (Better Alternative Trading System), which is based in Kansas City.

Financial terms of the deal were not disclosed.

The deal follows last month's news that investment bank Lehman Brothers had bought a minority stake in the Bats business.

The platform, which is designed to handle high-speed, high-volume and anonymous algorithmic trading for broker-dealers, launched in January 2006. The system was recently averaging more than 40 million shares per day in trading volume.

The two deals are the latest in a string of investments made by Wall Street banks in alternative trading venues and ECNs following Nyse's merger with Archipelago and Nasdaq's purchase of the Inet e-trading system last year.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Securities firms launch alternative trading system

Securities firms launch alternative trading system

26 September 2006  |  10283 views  |  0 comments
Lehman buys minority stake in Bats ECN

Lehman buys minority stake in Bats ECN

20 September 2006  |  13101 views  |  0 comments
Wall Street banks, e-trading firms acquire majority stake in NSX

Wall Street banks, e-trading firms acquire majority stake in NSX

06 September 2006  |  7197 views  |  0 comments
US banks, e-trading firms to take stakes in National Stock Exchange

US banks, e-trading firms to take stakes in National Stock Exchange

16 August 2006  |  6908 views  |  0 comments
Nomura, E*Trade and Van der Moolen invest in ISE Stock Exchange

Nomura, E*Trade and Van der Moolen invest in ISE Stock Exchange

24 July 2006  |  6829 views  |  0 comments
PHLX investors increase stake to 89.4%

PHLX investors increase stake to 89.4%

18 July 2006  |  6982 views  |  0 comments
Citigroup to launch electronic trading network

Citigroup to launch electronic trading network

18 January 2006  |  14508 views  |  0 comments
Morgan Stanley, Citigroup, UBS and CSFB acquire stakes in PHLX

Morgan Stanley, Citigroup, UBS and CSFB acquire stakes in PHLX

17 August 2005  |  10878 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit http://go.jumio.com/finextraAdVisit https://secure.vasco.comVisit info.nice.com

Who is commenting?

Top topics

Most viewed Most shared
Calmejane quits Lloyds Bank to join SocGenCalmejane quits Lloyds Bank to join SocGen
13858 views comments | 7 tweets | 8 linkedin
Hong Kong plans September go-live for blockchain-based trade financeHong Kong plans September go-live for bloc...
11473 views comments | 9 tweets | 17 linkedin
Mastercard enlists Worldpay to push Vocalink's Pay by Bank appMastercard enlists Worldpay to push Vocali...
10246 views 19 comments | 15 tweets | 30 linkedin
IBM to test dollar-pegged 'stablecoin'IBM to test dollar-pegged 'stablecoin'
7634 views comments | 4 tweets | 14 linkedin
Bringing about new systems and faster payments globallyBringing about new systems and faster paym...
7498 views comments | 2 tweets | 7 linkedin

Featured job

Find your next job