KANSAS CITY, Mo. & LONDON - Wednesday, July 13th 2011 [ME NewsWire]
(BUSINESS WIRE)-- The boards of BATS Global Markets (BATS) and Chi-X Europe today agreed to extend the terms of the proposed acquisition of Chi-X Europe by BATS.
The two companies agreed to the extension in order to allow the Competition Commission (CC) to complete its transaction review begun in late June 2011.
“While we continue to work with the CC towards a positive outcome for the transaction, BATS remains focused on providing our participants with tools and services that help them more efficiently navigate the European equities market,” said Joe Ratterman, president and chief executive officer of BATS Global Markets.
“We remain committed to finalising the deal with BATS,” said Alasdair Haynes, chief executive officer of Chi-X Europe. “In the meantime, Chi-X Europe will continue to develop its business and enable participants to achieve superior execution access for European equities.”
Separately, the BATS Europe and Chi-X Europe platforms continue to operate independently as normal and both will continue to provide a high level of service to BATS Europe and Chi-X Europe’s respective trading participants.
BATS and Chi-X Europe entered a definitive agreement on 18th Feb. 2011 for the sale of Chi-X Europe to BATS. On 20th June, the U.K. Office of Fair Trading announced the referral of the proposed acquisition to the CC.
The CC is expected to report its decision by 2nd Dec. 2011.
No additional 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-Delta™ 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.
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Contacts
BATS Global Markets
Kelly Bailey or Stacie Fleming
+44 (0) 207-012-8950 or +1-913-815-7193
comms@batstrading.com
Chi-X Europe Limited
Belinda Keheyan
Head of Marketing
+44 (0)7527 984 997 or +44 (20) 7131 3315
Belinda.keheyan@chi-xeurope.com
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