Bats Global Markets Inc.’s European arm delayed trading in Turkish equities, putting on hold its first foray into an emerging market.
The Lenexa-based trading-venue operator’s clearing and settlement partners had yet to confirm their readiness, according to an Oct. 30 alert on Bats’s website. The service was scheduled to begin Monday, with traders having the option of choosing clearing by EuroCCP NV, LCH.Clearnet Ltd. or SIX x-clear AG.
Trading in the companies on Turkey’s BIST 30 Index should begin within a month, said Hannah Randall, a spokeswoman for Bats Chi-X Europe.
Bats processed 19 percent of European equity trading by volume in the past five days, according to data compiled by the company on public exchanges. Only London Stock Exchange Group Plc has a greater market share. LSE’s 29 percent includes trading on its Turquoise market.
Bats also runs four U.S. stock markets, which accounted for more than 20 percent of the country’s equity trading last month, according to data compiled by Bloomberg.