BATS President O'Brien Abruptly Leaves
Ratterman previously held both the CEO and president roles from June 2007 through Jan. 2014. He joined BATS in June 2005 as a founding employee. O'Brien became president after Direct Edge completed its merger with BATS on Jan. 31. He had been CEO of Direct Edge since 2007.
In April, O'Brien engaged in a heated debate on CNBC with author Michael Lewis and IEX founder Brad Katsuyama in which he defended his exchanges practices regarding high-frequency trading. The argument generated international headlines. It is unclear whether this contributed to today's action.
A spokesman for BATS turned down a request as to the reason for O'Brien's departure.
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