Wall Street & Technology is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.


09:46 AM
Connect Directly

BATS to Become Listings Venue, Challenging NYSE and Nasdaq

Files rules with SEC to launch a listings program in U.S. stocks, offering a competitive alternative to incumbent exchanges.

Moving to compete with incumbent exchanges for IPOs, BATS Global Markets (BATS) today confirmed its plans to launch a primary listings market in the U.S. in the fourth quarter of 2011. The company has submitted draft rules to the Securities and Exchange Commission and anticipates formally filing them for notice and public comment shortly. The new listings venue will create a competitive alternative to the incumbent exchanges, which offer listings services for companies considering the IPO process, according to the global. operator of securities and derivatives markets, today.

BATS operates two stock exchanges in the U.S., the BATS BZX Exchange and BYX Exchange, which would be considers for the listings program

“We believe there is a need for an alternative listing venue in today’s market, which has only been heightened in recent weeks as legacy exchanges weigh different merger and acquisition strategies,” commented Joe Ratterman, president and CEO of BATS Global Markets, in the release.

“In addition, market conditions have become increasingly favorable to companies looking to gain access to the capital markets so we’re excited to launch our listings business later this year,” Ratterman further stated. BATS said the listings program would eflect the BATS philosophy with: • Simple and competitive pricing • Innovative tools and technology • Leading customer support and education

BATS will release additional information about BATS Listings in the coming months. Companies that are interested in learning more should contact BATS at [email protected], said BATS in the release.

Last month BATS announced it had entered a definitive agreement to purchase Chi-X Europe, potentially creating the largest pan-European trading venue. The new entity will be called BATS Chi-X Europe, and the deal is expected to close in the second quarter of 2011, pending regulatory approvals. The company also said it is exploring opportunities in Brazil.

Ivy is Editor-at-Large for Advanced Trading and Wall Street & Technology. Ivy is responsible for writing in-depth feature articles, daily blogs and news articles with a focus on automated trading in the capital markets. As an industry expert, Ivy has reported on a myriad ... View Full Bio

Register for Wall Street & Technology Newsletters
Exclusive: Inside the GETCO Execution Services Trading Floor
Exclusive: Inside the GETCO Execution Services Trading Floor
Advanced Trading takes you on an exclusive tour of the New York trading floor of GETCO Execution Services, the solutions arm of GETCO.