15 Apr 2008
Bats Trading, the latest independent stock exchange to venture into the European market, has announced that its electronic equities trading platform will be provided by supplier Savvis.
Bats is a following a rush of setups in a recently deregulated European market, after some success in the US.
The company hopes the new platform will match this success in Europe, said Ken Conklin, senior vice president in charge of business development at Bats.
“With the advent of the Markets in Financial Instruments Directive (MiFID), there is real demand in Europe for access to global markets and, to make international trading successful, we must replicate the same speed and responsiveness we have displayed in the US,” he said.
Savvis will host Bats' trading platform at a newly expanded datacentre in London’s Docklands.
A rival exchange is also being established by Turquoise, formed by a consortium of nine leading investment banks. Turquoise began testing its trading platform in February.
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