BATS adds two more ETFs while preparing $2 billion valuation IPO

Rick Steves

According to a filing with the US Securities and Exchange Commission (SEC) sent on April 4, it became clear what BATS Global Markets’ goals for the IPO were: to raise $244 million by selling 11.2 million shares at a price between $17 and $19 each, with underwriters having the option of purchasing up to an […]

BATS prepares for $2 billion valuation IPO

According to a filing with the US Securities and Exchange Commission (SEC) sent on April 4, it became clear what BATS Global Markets’ goals for the IPO were: to raise $244 million by selling 11.2 million shares at a price between $17 and $19 each, with underwriters having the option of purchasing up to an additional 1.7 million shares, valuing the company at up to $2 billion.

Once the offering on its own BATS BZX Exchange is completed, the thirteen banks and brokers proprietors of Bats will retain 82% of the voting power of the company’s capital stock. Among them are JP Morgan, Citi, Morgan Stanley and Goldman Sachs.

Today, BATS Global Markets announced the inclusion of two new ETFs from WisdomTree to its U.S. market: WisdomTree Markets Divided Fund (BATS: DVEM) and WisdomTree International Quality Dividend Growth Fund (BATS: IQDG), bringing the total number of WisdomTree ETFs listed on Bats to 13.

BATS executed 22.4% of all ETF trading in 2015 in the US, ranking #1 for the ETF market and #2 for overall equities trading in that year. The company more than doubled the number of ETFs listed on the US market to 72 since 2015, offering to pay ETF providers as much as $400,000 to list them on its exchange.

On April 1, BATS Global Markets closed a deal with ETF.com, a website that generated 875.572 pageviews in February 2016. No financial terms of the acquisition were disclosed.

BATS Global Markets, Inc. expanded into the foreign exchange territory in 2015 after buying currency-trading venue Hotspot FX from KCG Holdings Inc. for $365 million in cash and additional payments.

This year’s IPO is BATS second attempt at it, since a series of glitches forced the company to withdraw, in 2012. Back then, the company was asking for a valuation of $760 million.

 

Read this next

Retail FX

US Retail FX brokers suffer steep fall in client deposits, Trading.com racked up $46K

Retail FX deposits at US brokerages, which have been struggling to eke out a profit in a strict regulatory environment, dropped in March 2022 by $35 million, CFTC data showed.

Retail FX

eToro supports Immutable X (IMX), Livepeer (LPT) and Cartesi (CTSI)

Israeli social trading network eToro has added support for trading three new tokens. Immutable X (IMX), Livepeer (LPT) and Cartesi (CTSI) are the next coins to join eToro’s list of featured digital assets.

Executive Moves

LiquidityBook hires Fintech veteran Jonathan Cross to lead EMEA business

LiquidityBook, a provider of FIX and OMS trading solutions for both the buy and sell-side, has added Jonathan Cross to its business team for the EMEA region.

Retail FX

Interactive Brokers’ traders now have direct access to TradingView

Professional charting and trading platform, TradingView has integrated the US-listed brokerage firm Interactive Brokers as the latest online trading partner.

Digital Assets

This Web3 infrastructure provider is on the verge of a radical upgrade

The crypto industry fueled the anticipation of the arrival of web3 with the introduction of Decentralized Finance, Metaverse, and more. And today, that web3 is finding support from various developers looking to build and develop the space to extract the most benefits out of it.

Digital Assets

Crypto bots: trading assistant 

The cryptocurrency market is a volatile one, with huge gains and dramatic dips. However, the most informed traders can use automated tools to maximize profits while minimizing risks. 

Retail FX

Cryptos Seed Review – What Makes This Broker Stand Out (2022)

Read our Cryptos Seed review today to learn all you need to know about Cryptos Seed before signing up with the broker(cryptos-seed.com) – by Finance Feeds.

Institutional FX

Citadel goes live with FX NDFs trades on LCH ForexClear

“This builds on the strong growth at the service, which has historically been driven by a focus on margin efficiencies that will only increase with Phase 6 of the uncleared margin rules in September 2022.”

Digital Assets

Crypto platform Bitfrost registers as VASP in Gibraltar ahead of DLT License

“We’re now looking at the next steps necessary to obtain authorisation to operate as a fully regulated DLT or Virtual Asset Service Provider.”

<