BATS Global Markets has announced that the migration of Direct Edge's two stock exchanges ─ EDGA and EDGX ─ to its proprietary technology platform has been completed.
The final phase took place on January 12, and both have performed as expected since then. BATS says that an average of 170,000 messages per second have been passing through the system, and the integration has taken approximately a year to accomplish.
"Chris [Isaacson, global CIO] and his team planned and seamlessly executed this extremely complex and detailed technology migration with a focus on minimizing the disruption to our customers and maintaining the high standards we've set at BATS," says Joe Ratterman, CEO at BATS."Our strong market share throughout the week is a direct result of that effort and we look forward to continuing our growth with all four of the BATS US equity exchanges operating entirely on our proprietary technology."
Kansas City-headquartered BATS acquired Direct Edge, based in Jersey City, in August 2013.
While at Sibos Toronto, James shares some interviews covering topics on blockchain, fintechs and cybersecurity.Subscribe to Weekly Wrap emails