Bats Global Market (BATS) to Acquire Javelin SEF
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Bats Announces Plans to Acquire Javelin Swap Execution Facility
August 11, 2016 4:05 PM EDTTransaction Pending Regulatory Approval
KANSAS CITY, Mo. & NEW YORK & LONDON--(BUSINESS WIRE)-- Bats Global Markets, Inc. (Bats: BATS) has announced plans to acquire Javelin SEF, LLC (Javelin), a Swap Execution Facility (SEF).
The deal is intended to accelerate Bats plans to offer trading of non-deliverable forwards (NDFs) for the foreign exchange market. Javelin currently offers trade execution for swaps through a combination of an anonymous Limit Order Book and a Request for Quote model.
Dodd Frank provisions mandate that certain market participants trade NDFs on SEFs. The market is regulated by the Commodities... More
