BATS Global Markets, a UK and US-based operator of global stock and options markets, has completed its $300m acquisition of peer Chi-X Europe agreed in February.
BATS intends to combine the BATS Europe and Chi-X Europe MTFs, which will be known as BATS Chi-X Europe and will account for approximately 25% of overall European equities tradin.
Bats Global Markets, a US-based operator of electronic markets backed by local banks, also plans to raise $100m in its flotation. It plans to list on its own stock market, Bats Exchange, according to its regulatory filing.
Investment banks and shareholders Morgan Stanley, Citigroup and Credit Suisse are underwriting Bats’s initial public offering.
Bank of America, Citigroup, Credit Suisse, Deutsche Bank, Lehman Brothers Holdings, Morgan Stanley and JPMorgan all own more than 5% of Bats, which started trading shares on the Nasdaq stock exchange in 2006.
Retroficiency, a US-based provider of on-demand building efficiency services backed by Nasdaq-listed energy manager World Energy Solutions, has raised $3.3m in its series A round and acquired the Clean Energy Solutions (CES) division of NexAmp.
Venture capital firm Point Judith Capital led the A round.