18 January 2018
visit www.ebaday.com

JPMorgan and Deutsche Bank invest in Bats Trading

08 January 2008  |  9326 views  |  0 globe swirly

A further two banks - JPMorgan and Deutsche Bank - have made investments in Bats Trading, the electronic alternative to Nasdaq and Nyse. Financial terms of the minority investments were not disclosed.

The Bats ECN, which is designed to handle high-speed, high-volume and anonymous algorithmic trading for broker-dealers, launched two years ago. Since then a number of banks have invested in Missouri-based Bats Trading, including Merrill Lynch, Morgan Stanley, Credit Suisse, Lehman Brothers and Citi.

Robert Flatley, MD and global head of autobahn equity at Deutsche Bank, says the investment in Bats Trading "will allow us to take advantage of ongoing market structure developments and continue enhancing our trading capabilities".

Commenting on JPMorgan's investment, Carlos Hernandez, global head of equities at the US investment bank, says: "As the alternative execution space continues to expand and evolve, we remain committed to its development while providing our clients the broadest access."

Bats chief executive Joe Ratterman, says the new investments "bring key members of the trading community to our table".

The Bats ECN claims a 8-10% market share in US equities. An aggressive pricing one month pricing plan introduced in January 2007 helped drive trade volumes and forced both Nasdaq and Nyse to adjust their fees.

In November Bats filed an application with the US Securities and Exchange Commission (SEC) to become a fully licensed securities exchange.

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

Bats applies for exchange status

Bats applies for exchange status

06 November 2007  |  9751 views  |  0 comments
BATS founder and CEO steps down as exchange status talks continue

BATS founder and CEO steps down as exchange status talks continue

29 June 2007  |  7905 views  |  0 comments
Merrill buys into Bats Trading

Merrill buys into Bats Trading

07 March 2007  |  8984 views  |  0 comments
Credit Suisse acquires minority stake in Bats Trading

Credit Suisse acquires minority stake in Bats Trading

12 October 2006  |  11557 views  |  0 comments
Morgan Stanley invests in Bats ECN

Morgan Stanley invests in Bats ECN

05 October 2006  |  9233 views  |  0 comments
Lehman buys minority stake in Bats ECN

Lehman buys minority stake in Bats ECN

20 September 2006  |  13006 views  |  0 comments

Related company news

 

Related company information

JPMorgan Chase

Related blogs

Create a blog about this story (membership required)
visit www.vasco.comvisit www.thomsonreuters.infovisit www.niceactimize.com

Top topics

Most viewed Most shared
Europe begins Open Banking era in subdued styleEurope begins Open Banking era in subdued...
10598 views comments | 32 tweets | 36 linkedin
Crypto mining threatened by power capacity concernsCrypto mining threatened by power capacity...
10093 views comments | 17 tweets | 18 linkedin
Wells Fargo to close 900 branchesWells Fargo to close 900 branches
9672 views comments | 14 tweets | 16 linkedin
KFC introduces Bitcoin BucketKFC introduces Bitcoin Bucket
9213 views comments | 17 tweets | 16 linkedin
FinTech Scotland appoints new CEOFinTech Scotland appoints new CEO
8170 views comments | 8 tweets | 6 linkedin

Featured job

Competitive
London, UK (or flexible)

Find your next job