Trading clients at the European affiliate of BATS Global Markets, BATS Europe, are getting a second choice for processing trades, as the firm announced today the appointment of a second central counterparty for transactions.
BATS Europe, which began operating in September 2008, said LCH.Clearnet Ltd has been appointed, joining European Multilateral Clearing Facility as a provider of services to ensure the matching of buy and sell orders.
BATS Europe chief executive Mark Hemsley says the move delivers on the firm’s intention to give market participants a choice for clearing.
“We look forward to supporting further developments in CCP interoperability in Europe,” he said.
BATS Global Markets, with its headquarters in Kansas City, Mo. - launched its trading platform in January 2006 in the U.S., competing with major equities markets such as the New York Stock Exchange and the Nasdaq Stock Market.