Bats Said to Seek U.K. Exchange License in Challenge to LSE
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Bats Chi-X Europe plans to become the region’s first alternative trading system to register as an exchange in a renewed challenge to traditional bourses such as London Stock Exchange Group Plc.
The European unit of Lenexa, Kansas-based Bats Global Markets Inc. has filed a proposal to become a Registered Investment Exchange with the Financial Services Authority, the U.K. regulator, according to two people familiar with the situation. They declined to be identified as the information isn’t public.