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BATS' Second US Equities Exchange To Go Live in October

BATS received SEC approval to operate a second US equities exchange last Friday, putting it on a level playing field with NYSE and Nasdaq.

BATS Tradingreceived approval to operate its second US equities exchange, BYX, last Friday, and plans to live in October.

BATS said the approval for BYX would put it on a level playing field with its primary US competitors, New York Stock Exchange and Nasdaq, both of which operate multiple stock trading platforms. In the release, BATS added that it expects to gain “significant market share over time.”

BATS Exchange has earned more than 11 percent US market share in each of the past three months and BATS Global Markets remains the world’s third largest exchange operator, trailing only the NYSE and Nasdaq, the company said. Meanwhile, in July, BATS Europe set market share records in seven of the 15 indices in which it offers trading. “In particular, we are focusing on the Nordic, German and Swiss markets, all of which we expect to grow significantly,” the exchange operator said.

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

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