As has been expected, two of America’s largest stock exchanges are joining forces.
BATS Global Markets and Direct Edge, exchanges that have only been created in the last decade, are merging.
The combined company will be based in Kansas City and be run by Joe Ratterman, currently chief executive of BATS, the two businesses said today.
The merger propels them above Nasdaq in their share of US stock trading, though they remain slightly below the New York Stock Exchange.
Financial terms of the merger were not disclosed.
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