Exchange operator BATS files to go public: Reuters

(Reuters) — BATS Global Markets Inc filed for an initial public offering with U.S. regulators on Wednesday, in what would be the exchange operator’s second attempt at going public.

The company told the U.S Securities and Exchange Commission in a preliminary prospectus that Morgan Stanley, Citigroup, BofA Merrill Lynch and J.P. Morgan were among those underwriting the IPO.

The company withdrew its IPO in 2010 following a debacle which resulted in the company’s stock briefly trading for less than a penny. (reut.rs/1RgTDDG)

Around the same time, a bad trade for 100 shares of Apple Inc also went through, triggering a circuit breaker that temporarily halted trading in shares of the iPhone-maker.

The BATS exchange later declared “self-help,” due to internal problems in processing trades, forcing the exchange to send trades through other venues.

In the United States, BATS is the second-largest equities market operator, with four stock exchanges – BZX, BYX, EDGX and EDGA. The Kansas City, Missouri-based company also operates BATS’ equity options market.

The company intends to list its common stock on the BATS Exchange under the symbol “BATS”.

The filing did not reveal how many shares the company planned to sell or their expected price. The company set a nominal fundraising target of $100 million.

The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO could be different.