BATS said that the new listings venue’s technology, pricing, issuer support will be key differentiators and is expected to create a competitive alternative to the exchanges which offer listings services for companies considering the IPO process.
The company has submitted draft rules to the SEC and anticipates formally filing them for notice and public comment shortly.
BATS Global Markets president and chief executive Joe Ratterman said that BATS believe there is a need for an alternative listing venue in today’s market, which has only been heightened in recent weeks as legacy exchanges weigh different merger and acquisition strategies.
"In addition, market conditions have become increasingly favorable to companies looking to gain access to the capital markets so we’re excited to launch our listings business later this year," Ratterman said.
