Bats Trading Limited (Bats European Markets Division), a fully owned subsidiary of Bats Holdings, Inc., announces the receipt of authorisation from the Financial Services Authority (FSA) to operate a Multilateral Trading Facility (MTF) in Europe.
BATS European Markets Division is currently in general testing and will roll out the first 10 UK securities on October 31st with plans to offer trading in London Stock Exchange, NYSE Euronext and Xetra securities by November 19th.
"We're pleased to announce this news and our October 31st launch is ahead of the schedule we set back on March 31st when we announced our Europe plans," said Mark Hemsley, CEO of BATS European Markets Division. "We look forward to bringing BATS' unique blend of speed, efficiency and customer service to pan-European trading as we strive to Make Markets Better."
In the US, BATS plans to launch as a National Securities Exchange this month. The firm, which began offering trading in the US in January 2006, set a record October 3rd with 12.12% matched market share.