NYX Nyse Euronext

BATS Europe and Chi-X Europe could seek exchange status and launch a London-based listings business following the planned merger of the stock-trading platforms, the head of BATS Global Markets said Tuesday.

Kansas City-based BATS last week sealed a deal to buy Chi-X Europe, creating one of the biggest venues for trading European shares and a larger threat to incumbent exchanges like London Stock Exchange Group PLC (LSE.LN), NYSE Euronext (NYX) and Deutsche Boerse AG (DB1.XE). NYSE and Deutsche Boerse last week agreed on terms for their own merger.

Becoming a recognized investment exchange under U.K. securities law would first put a merged BATS-Chi-X Europe on "regulatory par with those that we feel are our primary competitors," said Joe Ratterman, chief executive of BATS Global Markets, in an interview with Dow Jones Newswires.

"It's something that we will consider and seems to make a lot of sense to us once the migration of the Chi-X deal is confirmed," he said. The move would also bring a potential opening for additional business in the form of listings.

The tie-up between BATS Europe and Chi-X Europe still requires approval from the U.K. Financial Services Authority. The Office of Fair Trading, which oversees competition policy, is also expected to look at the agreement, Ratterman said.

-By Jacob Bunge, Dow Jones Newswires; 312-750-4117; jacob.bunge@dowjones.com

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