BATS Wraps Up Seamless Integration of Direct Edge

BATS Global Markets, the Lenexa-based securities-trading platform, has announced that it has completed the technological integration of the Direct Edge stock exchanges. Not only was the project completed, BATS said, but it was done without loss of market share, leaving BATS with 20.97 percent of the equities-trading market in the first two weeks of January.

The Direct Edge merger was announced in August 2013 and approved by regulators the following February. BATS said the final phase of the integration took place Jan. 12, with the EDGX and EDGA Exchanges folded into the  BATS system throughout the week. And things went smoothly, with the integrated system processing more than 1 billion orders and message rates of more than 170,000 messages per second.

CEO Joe Ratterman lauded the team effort led by global CIO Chris Isaacson. “Chris and his team planned and seamlessly executed this extremely complex and detailed technology migration with a focus on minimizing the disruption to our customers and maintaining the high standards we’ve set at BATS,” Ratterman said. “Our strong market share throughout the week is a direct result of that effort and we look forward to continuing our growth with all four of the BATS U.S. equity exchanges operating entirely on our proprietary technology.”