|Founded||Feb. 8, 1971|
|Headquarters||New York, NY, USA|
|Key People||Adena Friedman, CEO|
|Products||Exchange offering products covering multiple asset classes|
Bats Global Markets (formerly an acronym for Better Alternative Trading System) is a second-generation electronic communication network (ECN) founded in June 2005 by David Cummings, the owner of Tradebot Systems in Kansas City. It was acquired by Cboe in 2017.
Bats Global Markets operates 11 markets globally. Its two U.S. stock exchanges, the BZX Exchange and the BYX Exchange, together process about 19 percent of all U.S. equity trading daily, and their European exchange, Bats Europe, processes about 22 percent of that market. It also operates two U.S. options exchanges, Bats Options and EDGX Options.
Cameron and Tyler Winklevoss, AKA The Winklevoss Twins, proposed to list the world's first bitcoin ETFs on the Bats BZX Exchange. Their proposal was rejected twice by the SEC, once in 2017 and again in 2018.
- Trading Upstart BATS Tops 1 Billion Volume Mark. Forbes.com.
- Merrill Buys BATS Trading Stake. Boston.com.
- CBOE Holdings Announces Close of Acquisition of Bats Global Markets. Cboe.
- Bats press release February 2017. Bats.
- BATS September 2013 Volume. BATS.
- SEC Rejects Winklevoss Bitcoin ETF Bid. Coindesk.
- Winklevoss twins bitcoin ETF rejected by SEC. Coindesk.