Bats expands ETF services as business booms

Bats has acquired as it adds to ever-growing ETF business.

Bats Global Markets is set to acquire, an ETF market news and analysis provider, as it expands its offering to investors.

The global exchange group has signed “a definitive agreement” to acquire the ETF market data website.

Bats said: “The insight and analysis on adds to the proprietary market data and analytics that Bats offers to help market participants make educated trading and investment decisions.”

Chris Concannon, chief executive officer at Bats, said the acquisition “underscores our commitment to the ETF industry”, as the exchange expands its value added content for users.

The acquisition will be completed in April this year, subject to closing conditions. Financial terms were not disclosed.

In 2014, Bats' European business listed its first international ETF, Blackrock’s iShares MSCI USA Dividend IQ UCITS ETF, and used Euroclear Bank for international settlement. 

Throughout 2015, Bats doubled the number of ETFs to 56 listed on its US market, and has continued to expand its ETF business.

Earlier this month, the exchange revealed it remains the #1 US market operator for ETF trading, after introducing 3 new ETFs bringing the total number of ETFs listed on Bats to 70.

In April last year, Laura Morrison joined Bats from NYSE as global head of exchange-traded products as the exchange continued to push its ETF business.