Bats Retail Stock Program Starts Dec. 17 in NYSE Challenge
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Bats Global Markets Inc. plans to start a one-year program Dec. 17 to compete with the New York Stock Exchange by giving retail investors better prices.
The service will allow orders from individuals to get prices at least a tenth of a cent better than those available to mutual and hedge funds, brokers, and other firms, according to Chris Isaacson, chief operating officer at the third-largest U.S. stock market operator. Bats BYX Exchange, one of its two equity markets, is seeking more orders from individuals to compete with firms like Knight Capital Group Inc. and Citadel LLC that provide transactions to clients of retail brokers.