Bats Holdings' European Markets division announces significant progress in its plans to launch its Europe platform in 2008, naming another key leader, securing new office space and launching its web site.
- Eric Crampton is head of software development for European Markets. Mr. Crampton has many years experience developing automated trading systems, and joined BATS earlier this year. He will remain in the firm's Kansas City, Mo., headquarters.
- The new office is at 25 Copthall Avenue, London, and the phone number is +44 20 7638 4613.
- The new website is batstrading.co.uk.
"Each of these milestones is important in our progress and we thank our investors for their support and the European trading community for its overwhelming enthusiasm," Mark Hemsley, chief executive of BATS' European Markets division, said. "We're also glad to formally name Eric to his new post - he is a terrific addition to our impressive team."
Since March 31, BATS Europe has made the following moves as it works towards its aggressive timeline and a launch in early November:
- Hired Mr. Hemsley and Chief Operating Officer Paul O'Donnell Named heads of Infrastructure, Sales, Compliance, Finance and Software Development
- Moved into a Savvis datacenter in London
- Reached a clearing agreement with EMCF
- Filed its MTF application with the Financial Services Authority.
The European operation is following the model put in place by BATS Trading, which launched in the U.S. in January 2006 and recently received U.S. Securities and Exchange Commission approval to become a national securities exchange. BATS, the third largest U.S. market center with 10.5% matched market share, expects to begin operations as an exchange in October.