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.