BYX - BATS' second exchange - will utilize the same proven world-class technology, location and connectivity as the existing exchange but is intended to offer more choices for the industry. BATS plans to launch a second US equities exchange in 2010.
BATS Global Markets, an innovative global financial markets technology company, today announced plans to launch a second US equities exchange in early 2010.
The owner and operator of BATS Exchange, the third-largest US equities exchange, is preparing to formally file an application for the second US equities exchange with the Securities and Exchange Commission in the coming weeks.
BYX - BATS’ second exchange - will utilize the same proven world-class technology, location and connectivity as the existing exchange. Pricing for BYX will be announced at a later date.
“We are pleased to announce plans for a second US equities exchange. BYX will allow us even greater flexibility in pricing and innovation that will result in more choices for the industry,” said Joe Ratterman, CEO of BATS Exchange and BATS Global Markets.
In July the group revealed plans to branch out and compete with the Chicago Board Options Exchange and the International Securities Exchange for a slice of the growing options market. The options exchange is on target to go live in the first quarter.
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