BATS to Provide Yahoo! Finance With Real-Time Market Data
Innovative Market Center Links With Top Financial Web Site, Continues Push to Make Market Data Free for All Participants
KANSAS CITY, Mo.--(BUSINESS WIRE)--BATS Trading Inc., an innovative and technology leading U.S. market center, announces its real-time U.S. stock quotes are now available free of charge on Yahoo! Finance, providing unlimited access to the site’s 19 million users.
“Over time, with continued pressure from competitive market centers such as BATS, we believe that market data fees will decrease or be eliminated altogether.”
“From the time BATS was created we have pushed for free market data for market participants and this relationship with Yahoo! Finance, the most visited finance site on the weba, embodies this philosophy,” BATS Chief Executive Joe Ratterman said. “Over time, with continued pressure from competitive market centers such as BATS, we believe that market data fees will decrease or be eliminated altogether.”
Mr. Ratterman also added: “True to our roots, BATS has never charged participants for the receipt of our market data, a practice we will continue as we approach Exchange status.”
BATS real-time quotes will first appear on Yahoo! Finance’s quote summary pages on May 28. In coming weeks, Yahoo! plans to expand its BATS data offerings to integrate order book, portfolio and multi-quote features into additional areas of Yahoo! Finance.
“Investors come to Yahoo! Finance for the most timely and relevant financial information, ensuring they can make informed financial decisions,” says Mark Interrante, vice president and general manager of Yahoo! Finance. “Partnering with BATS to provide unlimited real-time data at no cost allows Yahoo! to remain indispensible to the world’s largest investment community.”
BATS, which filed for exchange status in November 2007 and recently completed the formal public comment period, is hopeful that approval will be granted and it can begin operations as a national securities exchange in 2008.
Randy Williams, vice president of sales and communications, and Jon Schneider, sales manager, are the contacts for BATS connectivity in the U.S. Firms interested in connecting in Europe should contact Ken Conklin, senior vice president of business development, at the coordinates below.
a According to data from comScore.
About BATS Trading
BATS Trading, based in Kansas City, Mo., with additional offices in New York , was launched in January 2006 and operates one of the fastest-growing, top-tier equity markets in the United States with plans for a Europe launch in 2008 through its London-based affiliate. The BATS platform is developed by a core team of market and technology professionals, catering to the needs of the broker-dealer community. Included in the BATS customer base are more than 280 broker-dealers and a broad-based ownership group including affiliates of Citi, Credit Suisse, Deutsche Bank, GETCO, JPMorgan, Lehman Brothers, Lime Brokerage, Morgan Stanley, Merrill Lynch, Tradebot and Wedbush. BATS … Making Markets Better.