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US: Stock exchanges combine to rival NYSE, Nasdaq

By  |  January 31, 2014

The nation’s third- and fourth-largest stock exchanges announced they have cleared their last regulatory hurdle in completing their merger, and are only days away from officially combining to rival top exchanges.

BATS Global Markets and Direct Edge are planning to combine and compete with top traders the New York Stock Exchange and Nasdaq. The companies announced Friday that the Securities and Exchange Commission approved of the merger.

The SEC blessing came as the last necessary approval for the companies.

The merged entity will operate under the BATS name and is on schedule to begin trading in this quarter.

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