BATS ECN Receives Minority Investment From Merrill Lynch.Fast-Growing Market Center Averaged 307M Shares a Day in February KANSAS CITY Kansas City, two adjacent cities of the same name, one (1990 pop. 149,767), seat of Wyandotte co., NE Kansas (inc. 1859), the other (1990 pop. 435,146), Clay, Jackson, and Platte counties, NW Mo. (inc. 1850). , Mo. -- BATS Trading, Inc. announced Wednesday that Merrill Lynch Merrill Lynch & Co., Inc. (NYSE: MER TYO: 8675 ), through its subsidiaries and affiliates, provides capital markets services, investment banking and advisory services, wealth management, asset management, insurance, banking and related products and services on a global basis. & Co. has made a minority investment in the BATS ECN (Electronic Communications Network) A computerized, private financial trading system. Terra Nova Trading (www.terranovatrading.com) and Instinet (www.instinet.com) are examples. . Financial terms were not disclosed. "We created BATS to address the sophisticated needs of the trading community and are honored that Merrill Lynch has decided to invest in our technology and in our people," said Dave Cummings For the musician, see . Dave Cummings (born David Conners on March 13, 1940 in Saratoga Springs, New York, U.S.) is considered one of the oldest porn stars. , chief executive of BATS Trading. "We look forward to additional partnerships with the trading community and thank all of our partners and subscribers for their continued support." BATS averaged daily volume of 307 million shares in February, touching about 13.3% of Nasdaq-listed volume and matching about 9.2%. The ECN recorded record volume of 399.9 million shares on Feb. 27 and recently started trading Tape A-listed shares as well. About BATS Trading BATS Trading Inc., Kansas City, Mo., was founded in June 2005 in response to rapid consolidation in the exchange space. The BATS ECN is designed to handle high-speed, high-volume, anonymous, reliable, algorithmic trading Algorithmic Trading A trading system that utilizes very advanced mathematical models for making transaction decisions in the financial markets. The strict rules built into the model attempt to determine the optimal time for an order to be placed that will cause the least amount of . Other investors in BATS include Credit Suisse, Getco LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , Lehman Brothers, Lime Brokerage LLC, Morgan Stanley and Wedbush Inc. For more information, contact Randy Williams or visit www.batstrading.com. About Merrill Lynch Merrill Lynch is one of the world's leading wealth management, capital markets and advisory companies, with offices in 37 countries and territories and total client assets of approximately $1.6 trillion. As an investment bank, it is a leading global trader and underwriter of securities and derivatives across a broad range of asset classes and serves as a strategic advisor to corporations, governments, institutions and individuals worldwide. Merrill Lynch owns approximately half of BlackRock, one of the world's largest publicly traded investment management companies, with more than $1 trillion in assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. . For more information on Merrill Lynch, please visit www.ml.com. |
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