BATS Trading Officially Takes Flight
ECN TECHNOLOGIES
NEW YORK—A new ECN broke into the equities-trading marketplace last week as BATS Trading formally launched its own electronic service.
The Kansas City, Mo.-based company announced plans for the ECN in August 2005. Since then, BATS "developed its matching engine while … also working through regulatory approvals," says David Cummings, CEO of BATS. "Overall, we felt like seven months from incorporation to ECN launch was very aggressive."
BATS, which stands for Better Alternative Trading System
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