• News

    BATS Proves It’s Just As Technologically Inept As NYSE, Nasdaq, CME

    With its second snafu in as many months, BATS Global Markets has amply demonstrated that it’s ready to join the big boys.

    / Sep 27, 2013 at 4:54 PM
  • News

    Some Exchanges Had Some Problems Yesterday

    Nobody noticed.

    / Aug 7, 2013 at 1:35 PM
  • batsglobalmarkets


    BATS: We’ve Sort of Been Allowing Illegal Trades On-and-Off For, Oh, Four Years, Give Or Take

    As we have seen, the largest and second-largest U.S. stock exchanges have been having some trouble with little things like IPOs and processing and reporting trades. Now, it’s the third’s turn:

    / Jan 10, 2013 at 12:34 PM
  • News

    That’s Some Latency

    BATS apparently reeeaally wanted those first few trades to be practice trades. This is amazing:

    Bats Global Markets Inc., the six- year-old equity exchange, canceled its initial public offering, stunning Wall Street after errors on its own computer systems derailed trading in the stock and forced a halt in Apple Inc. (AAPL)

    “We believe withdrawing the IPO is the appropriate action to take for our company and our shareholders,” Joe Ratterman, the chief executive officer, said in a statement. Asked if that meant Bats is no longer going public, Randy Williams, a company spokesman, replied by e-mail, “Yes, that’s correct.”

    It’s nice to see Bloomberg as incredulous as I am – that paragraph means: the CEO said “we are withdrawing our IPO” and Bloomberg emailed to ask “wait, no, REALLY?” And got the response, “yes, really.” Because what’s weird here is not a withdrawn IPO but a withdrawn IPO that had already priced. And opened for trading – for a few seconds anyway – to print a few trades at $15.25 (down from last night’s IPO price of $16) at around 10:45 this morning before halting, unwinding those trades and ultimately unwinding the IPO.

    / Mar 23, 2012 at 6:09 PM

Our Sites

  • Above the Law
  • How Appealing
  • ATL Redline
  • Breaking Defense
  • Breaking Energy
  • Breaking Gov
  • Dealbreaker
  • Fashonista