BATS hits non-US rivals out of the ballpark
BATS Exchange has become the world’s third largest stock exchange by value traded in its first full month of trading as a regulated US national securities exchange.
For December, BATS reported $552.26 billion in notional value traded, a level only exceeded by US rivals New York Stock Exchange and Nasdaq, according to figures supplied from BATS internal sources.
Launched as an ECN (electronic communication network) in January 2006, BATS Exchange fully converted to national securities exchange status in November 2008.
According to the World Federation of Exchanges, the Tokyo Stock Exchange traded $333.68 billion in notional value during December, followed by the Shanghai Stock Exchange ($229.46 billion), London Stock Exchange ($202.53 billion) and Euronext ($189.27 billion).