Options exchange CBOE to buy bats for $3.2B in equities trading push
CBOE Holdings, the largest U.S. options exchange, is buying Bats Global Markets, the second largest stock exchange, as trading venues continue their consolidation and push to have business lines across all financial asset classes. Chicago-based CBOE Holdings operates the Chicago Board of Options Exchange and the Chicago Futures Exchange, while Kansas City based Bats was created in 2005 with the support of a consortium of banks to provide an electronic trading alternative to the New York Stock Exchange and Nasdaq, which both were snapping up electronic exchanges at the time.
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