KANSAS CITY, Mo. & LONDON--(BUSINESS WIRE)--BATS Global Markets and Chi-X Europe welcome today's announcement from the UK Competition Commission that it has provisionally decided to approve the acquisition of Chi-X Europe by BATS Global Markets. The Competition Commission has reviewed the transaction and provisionally concluded that it does not expect it to result in a substantial lessening of competition.
Joe Ratterman, chairman and chief executive officer of BATS Global Markets, said: "We are pleased by the Competition Commission's provisional findings, which if reflected in the final report, will clear the way for the creation of an even stronger competitor to Europe's incumbent exchanges. We will continue to work closely with the Commission throughout the duration of the inquiry."
The Competition Commission is expected to publish its final report by 2nd Dec. 2011, the statutory deadline for completion of its inquiry. Assuming that the Competition Commission clears the acquisition in its final decision, it is anticipated that the transaction will be completed by the end of this year.
No further statements will be made at this time.
About BATS
BATS Global Markets (BATS) is a leading operator of stock and options markets around the globe. BATS operates two stock exchanges in the U.S., the BATS BZX Exchange and BYX Exchange; BATS Options, a U.S. equity options market; and BATS Europe, an FSA-authorised multilateral trading facility in Europe. Each of these marketplaces is powered by BATS' innovative and proprietary technology that was developed by a dedicated core team of market and technology professionals, catering to the needs of the broker-dealer and trading community. The company is headquartered in the Kansas City, Mo., area with additional offices in New York and London. For more information, visit www.batstrading.com.
About Chi-X Europe
Launched in March 2007, Chi-X Europe Limited is an FSA-authorised securities firm operating a multilateral trading facility (MTF) for the trading of more than 1,300 of the most liquid securities across 25 indices and 15 major European markets, as well as ETFs (exchange traded funds), ETCs (exchange traded commodities) and IDRs (international depositary receipts) in both a visible order book and the Chi-DeltaTM non-displayed order book. Chi-X Europe's low-cost, streamlined operating model is designed to help trading participants achieve ultra-low execution and clearing and settlement costs.
For more information, please visit www.chi-xeurope.com.
Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50036020&lang=en
Contacts
BATS Global Markets
Kelly Bailey, +44 (20) 7012 8950
or
Stacie Fleming, +1 913 815 7193
comms@batstrading.com
or
Chi-X Europe Limited
Belinda Keheyan, +44 (0)7527 984 997
Head of Marketing
or
+44 (20) 7131 3315
Belinda.keheyan@chi-xeurope.com