Bats suggests changes to stock exchanges, projects $850M savings

Photo courtesy of Creative Commons
Photo courtesy of Creative Commons

Bats Global Markets Inc. has proposed a reduction in fees for buying and selling some stocks that could produce industry savings of more than $850 million for the most active shares. The Lenexa, Kan.-based company also suggested a review of reporting and decision-making standards when brokers send stock orders.

The move by Bats follows a set of proposals by the owner of the New York Stock Exchange that have been circulating in recent months. Bats and the NYSE both handle about 20 percent of U.S. trading, but Bats’ suggestions differ considerably from the NYSE proposals, rejecting the idea of steering more trading away from off-exchange platforms.

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