Bats plans second US equities exchange

Bats plans second US equities exchange

Bats Global Markets says it will file an application with the SEC in the next few weeks for a second US equities exchange, which should launch early next year.

The Kansas City market operator's Bats Exchange has captured 10% matched market share in US equities in less than four years.

It now hopes to launch the new platform, called BYX, early next year, using the same technology, location and connectivity as the existing exchange.

Joe Ratterman, CEO,Bats Exchange, says: "The launch of BYX is the logical next step in our efforts to make markets better through the creation of innovative trading tools and services that meet the needs of all market participants."

In July the group revealed plans 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 options exchange is on target to go live in the first quarter.

Comments: (0)

Trending Stories