Business

Bats Global Markets agrees to buy Javelin SEF LLC

By Mark Davis

mdavis@kcstar.com

August 11, 2016 03:35 PM

Bats Global Markets, headquartered in Lenexa, plans to acquire Javelin SEF LLC, a swap execution facility.
Bats Global Markets, headquartered in Lenexa, plans to acquire Javelin SEF LLC, a swap execution facility. File photo by The Star
Bats Global Markets, headquartered in Lenexa, plans to acquire Javelin SEF LLC, a swap execution facility. File photo by The Star

Bats Global Markets Inc. agreed to another acquisition in the foreign currency market, adding Javelin SEF LLC to its fold.

Terms of the purchase were not announced.

BATS called Javelin a swap execution facility. It said the purchase, which requires regulatory approval, would allow it to fold Javelin into Bats Hotspot, a currency market for institutions that Bats Global purchased in 2015 for $365 million.

“The transaction will enable us to broaden the instruments available to trade on Bats Hotspot, adding to the platform’s existing product line-up,” Bats CEO Chris Concannon said in the announcement.

Based in Lenexa, Bats Global Markets operates the nation’s second-largest stock exchange behind only the New York Stock Exchange.

Mark Davis: 816-234-4372, @mdkcstar

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