SEC Approves BATS Exchange, Inc. as a National Securities Exchange
 
August 25, 2008
 

On August 18, 2008, the SEC approved the application of BATS Exchange, Inc. for registration as a national securities exchange. The BATS electronic trading network was launched in January 2006 and trades about 10% of the share activity in NYSE and Nasdaq listed stocks. The transition from an electronic trading network to an exchange is expected to take approximately 60 days. The BATS Exchange will not list any securities at this time. Instead, the BATS Exchange has proposed to trade securities pursuant to unlisted trading privileges. Any securities traded on the BATS Exchange must be a reporting company with the SEC and listed on the NYSE, Nasdaq or the AMEX.

http://www.sec.gov/rules/other/2008/34-58375.pdf