BATS Exchange, In Conjunction With Other Exchanges, Submits Proposal Letter To SEC - BATS, NYSE AND NASDAQ Join In Letter Regarding New Short Sale Rules, Propose Modified Uptick Rule With Circuit Breaker

BATS Exchange, along with the New York Stock Exchange and Nasdaq Stock Market, issued a comment letter to the Securities and Exchange Commission in regards to a proposal to combat abusive short selling.

“We worked closely with the Commission to implement new rules and emergency measures in the wake of the market turmoil in late 2008,” said BATS Exchange COO Chris Isaacson. “BATS is well positioned to continue playing an important role, along with other exchanges and the SEC, to help design and implement effective regulation aimed at curbing abusive short selling and other potentially manipulative practices.

“To that end, BATS Exchange is pleased to join with NYSE and Nasdaq to propose a Modified Uptick Rule and Circuit Breaker, measures which would go a long way towards dealing with this issue so critical to the success of U.S. equity markets,” Mr. Isaacson said.

The complete joint letter can be found at http://www.batstrading.com/JointShortSaleLetter.