BATS Global Markets on Wednesday filed with the SEC for an initial public offering to raise $100 million.
The date of the IPO was not set in the filing with the Securities and Exchange Commission.
BATS said its shares would trade on its own equity market under the ticker symbol BATS. It would use the proceeds of the IPO to pay off a 2014 loan and to make acquisitions.
In an interview in March with Pensions & Investments, President and CEO Chris Concannon said the company was looking to expand its trading in foreign-exchange forward contracts and possibly in precious metals. Earlier this year, BATS closed on its deal for institutional spot foreign-exchange network Hotspot FX from KCG Holdings for $365 million in cash.
The $100 million IPO fundraising target could change, the filing said.
The filing said that as of Sept. 30, BATS had a 21.1% share of the overall U.S. equity trading market, a 22.4% share of the trading of exchange-traded products and a 9.9% share of the U.S. equity options market. As of the same date, BATS had a 24.2% share of European securities available for trading on BATS Chi-X Europe and an 11.5% share of the publicly reported institutional spot FX market for the first nine months of 2015.
This would be the second attempt at an IPO for BATS. Its first attempt, in March 2012, was canceled after a software problem on its exchange sent its shares plunging to just a few cents as trading opened.
Randy Williams, BATS spokesman, said the company had no comment.
