22 November 2017
visit www.avoka.com

Bats distributes real-time market data on Yahoo

28 May 2008  |  6868 views  |  0 Financial numbers

In a move to lure more US retail investors to its trading platform, Bats Trading - the all-electronic alternative to Nasdaq OMX and Nyse Euronext - has struck a deal to provide its real-time US stock quotes free of charge to users of Yahoo! Finance.

In a statement Bats says its real-time US stock quotes are now available to 19 million users of the Yahoo! Finance site.

The data will initially appear on Yahoo! Finance's quote summary pages, before being integrated into additional areas of the site in coming weeks.

The Bats ECN - which is designed to handle high-speed, high-volume and anonymous algorithmic trading for broker-dealers - launched in the US in January 2006 and now claims a 8-10% market share in US equities. An aggressive one month pricing plan was introduced in January 2007, helping to drive trade volumes and forced both Nasdaq and Nyse to adjust their fees.

The ECN is now looking to boost its market share even further by targeting the fees that stock exchanges charge for market data. It is thought that both Nyse Euronext and Nasdaq OMX generates well over 10% of their revenue from market data fees.

Joe Ratterman, Bats chief executive, says the company has pushed for free market data for market participants ever since Bats was launched.

"Over time, with continued pressure from competitive market centres such as Bat, we believe that market data fees will decrease or be eliminated altogether," he adds.

Bats filed an application with the US Securities and Exchange Commission (SEC) to become a fully licensed securities exchange in November 2007 and recently completed the formal public comment period. In today's statement, exchange says it is "hopeful" that approval will be granted and it can begin operations as a national securities exchange in 2008.

The Kansas City-based market operator is also gearing up to launch its platform in Europe later this year to compete with the region's stock exchanges.

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 makes first appointments in Europe

Bats makes first appointments in Europe

17 April 2008  |  6300 views  |  0 comments
Bats chooses Savvis to host European platform

Bats chooses Savvis to host European platform

14 April 2008  |  4177 views  |  0 comments
Bats to launch in Europe

Bats to launch in Europe

31 March 2008  |  6299 views  |  0 comments
JPMorgan and Deutsche Bank invest in Bats Trading

JPMorgan and Deutsche Bank invest in Bats Trading

08 January 2008  |  9300 views  |  0 comments
Bats applies for exchange status

Bats applies for exchange status

06 November 2007  |  9733 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.response.ncr.comvisit www.vasco.comvisit www.capgemini.com

Top topics

Most viewed Most shared
Ripple boss predicts central bank adoption of blockchainRipple boss predicts central bank adoption...
19978 views comments | 31 tweets | 33 linkedin
AmEx partners Ripple and Santander for blockchain-enabled cross-border paymentsAmEx partners Ripple and Santander for blo...
11970 views comments | 15 tweets | 42 linkedin
UK cryptocurrency exchange startup launches debit card for spending bitcoinUK cryptocurrency exchange startup launche...
9698 views comments | 26 tweets | 38 linkedin
Barclays warns of unprecedented online fraud this ChristmasBarclays warns of unprecedented online fra...
9514 views comments | 16 tweets | 33 linkedin
ING brings data privacy to blockchain transactionsING brings data privacy to blockchain tran...
7042 views comments | 22 tweets | 35 linkedin

Featured job

Find your next job