August 26, 2016 4:42 AM ET

Diversified Financial Services

Company Overview of BATS Global Markets, Inc.

Company Overview

BATS Global Markets, Inc. operates securities markets in the United States and Europe. It operates stock exchanges that serve as primary listings venues for exchange-traded products facilitating to trade equities across various indices. The company was founded in 2005 and is headquartered in Lenexa, Kansas with additional offices in New York and London. BATS Global Markets, Inc. was formerly a subsidiary of Tradebot Systems, Inc.

8050 Marshall Drive

Suite 120

Lenexa, KS 66214

United States

Founded in 2005

323 Employees

Phone:

913-815-7000

Fax:

913-815-7119

Key Executives for BATS Global Markets, Inc.

Chief Executive Officer, President and Director
Age: 48
Total Annual Compensation: $1.2M
Co-Founder, Global Chief Information Officer and Executive Vice President
Age: 38
Total Annual Compensation: $837.5K
Chief Financial Officer, Executive Vice President and Treasurer
Age: 51
Total Annual Compensation: $718.9K
Executive Vice President and Chief Executive Officer of Bats Chi-X Europe
Age: 54
Total Annual Compensation: $1.1M
Head of US Markets and Executive Vice President
Age: 40
Total Annual Compensation: $652.2K
Compensation as of Fiscal Year 2015.

BATS Global Markets, Inc. Key Developments

BATS Global Markets, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter Ended June 30, 2016; Provides Earnings Guidance for the Year 2016

BATS Global Markets, Inc. reported unaudited consolidated earnings results for the second quarter ended June 30, 2016. For the quarter, the company reported total revenues were $465.9 million against $418.2 million a year ago. Operating income was $58.1 million against $48.6 million a year ago. Income before income tax provision was $12.3 million against $15.8 million a year ago. Net income was $17.9 million against $20.4 million a year ago. Diluted earnings per share was $0.19 against $0.21 a year ago. EBITDA was $51.6 million against $59.6 million a year ago. Normalized EBITDA was $71.4 million against $60.0 million a year ago. Diluted adjusted earnings per share was $0.35 against $0.26 a year ago. Adjusted earnings of $33.9 million against adjusted earnings from $24.6 million a year ago. While net income decreased from $20 million from a year ago due primarily to a pretax $18 million debt refinancing charge in the latest period, adjusted earnings rose 38% from a year ago, partly driven by continued growth in non-transaction revenue. Effective tax rate for the quarter was 40.7% compared to 43.6% last year due to lower effective state income tax rates. Annual CapEx guidance for 2016 is expected to be $15 million to $20 million.

Bats Global Markets, Inc. to Launch BAM Options Auctions, Offering Competitive Price Improvement Opportunity

Bats Global Markets, Inc. announced plans to launch the Bats Auction Mechanism (BAM), new functionality that provides price improvement opportunities for orders sent to its EDGX Options Exchange. Bats plans to launch BAM in November, pending SEC approval. The company’s two U.S. options exchanges, EDGX and BZX, set a combined record with market share of 11.7% in June while remaining the in single-leg equity options trades with 19% market share. BAM is an options auction process that provides Members with an opportunity for price improvement for the Member’s client orders. The BAM functionality alerts all Members at the start of an auction in order to maximize the price improvement opportunity and allows agency orders to trade against the contra party specified by the initiating Member or other Members responding to the auction. In addition, Bats will introduce a new feature called the Priority Quote Allocation. This functionality provides incentives for a broader range of participants to maintain two-sided quotes, which helps to keep tighter bid-ask spreads in continuous market trading. BAM will run continuously throughout the trading day on EDGX, the pro-rata Bats’ options market launched in November 2015.

BATS Global Markets, Inc. to Report Q2, 2016 Results on Aug 04, 2016

BATS Global Markets, Inc. announced that they will report Q2, 2016 results at 4:00 PM, US Eastern Standard Time on Aug 04, 2016

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