BATS Exchange, a US securities exchange, has announced that it will voluntarily cease offering the BATS Optional Liquidity Technology (BOLT) order type effective September 1, 2009.
Joe Ratterman, CEO of BATS Exchange and BATS Global Markets, said: “BATS Exchange is pleased to make this announcement, particularly because Nasdaq has also heeded our July 30th call to eliminate flash orders in a coordinated fashion with the rest of the industry”
“In the interim, we continue to encourage the remaining exchanges and ECNs using flash order types to voluntarily withdraw them as an act of goodwill to the industry,” he added.
BATS Global Markets (BATS) is a global financial markets technology company headquartered in the Kansas City, Missouri, area with additional offices in New York and London.
