BATS Global Markets, a stock exchange that had just gone public, has taken the highly unusual step of withdrawing its initial public offering following a trading setback in the company's stock and in the shares of some of the companies that trade on its platform.
“Although our affected market has reopened, in the wake of today’s technical issues, which affected the trading of certain stocks, including that of BATS, we believe withdrawing the IPO is the appropriate action to take for our Company and our shareholders,” Joe Ratterman, chairman, president and CEO of BATS, said in a statement Friday.
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