BATS Global Markets, the third-largest U.S. equities marketoperator, is pleased to announce that the BATS Exchange, also known as the BATS BZX Exchange, is now a U.S. primary listings venue, providing issuers a new market to list their stocks.
BATS has completed the development of the BATS-listed auction system process, received SEC approval on its listings rules and guidelines, created a surveillance program for BATS-listed securities, and established customer service teams to review and process applications, which are now available on the BATS Listings website.
All issuers will be supported by the BATS Issuer Resource Desk and receive the same world-class customer service that BATS trading customers have come to expect. BATS is also developing an innovative market maker program for BATS-listed symbols and will be announcing additional information in due course.
“Just like we have done in the secondary markets, we’re focused on driving competition and innovation in the U.S. primary markets by creating a listings venue that strives to Make Markets Better for issuers,” said Joe Ratterman, Chairman and CEO of BATS Global Markets. “Today is just the first step. Over the coming weeks we will be finalizing our innovative market maker program and completing our suite of issuer information tools.”
Mr. Ratterman continued, “We understand this is a tough market to break into, with the incumbent exchanges having a long history and strong brand recognition. At the same time, we don’t believe the issuer community is being served as well as they can be, and our history of innovation will likely be welcomed in an area that hasn’t been seriously challenged for dozens of years. We look forward to working directly with issuers to meet their specific needs and growing our listings business one issuer at a time.”
A copy of the BATS Listings Rules and Listing Standards and Fees can also be found on the BATS Listings website. Additional information for traders can be found on the BATS Listings Integration page.
Companies interested in learning more about BATS Listings may email listings@batstrading.com.
