BATS Global Markets to Enhance NDFs Offering Through SEF Acquisition
Posted: Wed Aug 10, 2016 9:15 pm
With the U.S. ecosystem for swap execution facilities continues to evolve, Bats Global Markets, Inc. (Bats: BATS), the Lenexa-based operator of the U.S second-largest stock exchange, today has announced its plans to acquire Javelin SEF, LLC (Javelin), a Swap Execution Facility (SEF).
The transaction is pending regulatory approval and the deal terms will not be disclosed.
Javelin SEF, LLC is a Swap Execution Facility that offers liquidity and execution choices in a wide range of interest rate swaps. Bats said the deal is intended to accelerate its plans to offer trading of non-deliverable forwards (NDFs) for the foreign exchange market.
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