Bats plans US options exchange
08 July 2009 | 9671 views | 0
Bats Global Markets says it plans to launch a US equity options exchange in the first quarter of next year.
The Kansas City market operator's Bats Exchange has captured nearly 12% market share in US equities since its launch two and half years ago, taking on the New York Stock Exchange and Nasdaq with an aggressive pricing policy.
It now looks set to branch out and compete with the Chicago Board Options Exchange and the International Securities Exchange for a slice of the growing options market.
The firm says VP of market development, Jeromee Johnsonin, will be heavily involved in Bats Options. Johnson was previously president of 3D Markets, a software and technology provider for institutional equity options trading.
Joe Ratterman, chief executive, Bats Global Markets, says: "We plan to take the successful business model used in the US and Europe, led by our innovative technology platform, to Make Markets Better in US equity options trading."