Bats Wants Better Oversight of Stock Market’s Underpinnings
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Bats Global Markets Inc. wants to overhaul how a key piece of infrastructure in the U.S. stock market is governed, according to Chief Executive Officer Chris Concannon.
The services known as securities information processors, which distribute the official prices for U.S. stocks listed by the New York Stock Exchange and Nasdaq Stock Market, are overseen by representatives from exchanges and a regulator. Brokers and money managers should also have a voice, the Bats executive said Thursday.