BATS Global Markets Chief Executive Joe Ratterman Monday
reiterated that a "software bug" was to blame for the system's
problems Friday and said that the exchange will win back market
confidence.
Ratterman, in an interview with CNBC, also defended the
company's decision Friday to withdraw its initial public offering
in its own exchange.
Ratterman said the problem lay in a "software bug" and the
exchange was unable "to roll from our continuous trading."
Asked when the company might pursue the IPO, Ratterman said the
company "has to pull together our board and discuss what we're
going to do next, so we don't have additional plans at this point."
Ratterman also said the company was in touch with the Securities
and Exchange Commission on Friday, coordinating with the agency,
and that the company will follow up with the SEC this week.
"I just need to extend my sincerest apology in regret for
Friday's failure," he said. "We will earn their confidence
back."
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