Merger Makes BATS As Big As NYSE, Nasdaq

Photo Courtesy of Creative Commons
Photo Courtesy of Creative Commons

With approval from the Securities and Exchange Commission, BATS Global Markets Inc. completed its merger with Direct Edge Holdings LLC and is now roughly equal in size to the New York Stock Exchange and Nasdaq OMX.

BATS, based in Lenexa, Kan., started from scratch in 2005 and is now the top U.S. exchange for exchange-traded funds. The combined entity has a 20.54 percent U.S. market share, right on the heels of market leader New York Stock Exchange’s 20.58 percent share. Nasdaq OMX is third with 20.02 percent. BATS Chi-X Europe remains the largest stock exchange in Europe with a market share of 22.11 percent.

The merger brings many large brokers under the same roof, including Goldman Sachs Group Inc., Morgan Stanley, Citadel LLC, Citigroup Inc. and several others, creating substantial competition for NYSE and Nasdaq.

BATS will hold a conference call on Feb. 20 to detail its integration plans for the technology platforms of the two entities being merged.

Read more from the Kansas City Business Journal


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