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BATS officially withdraws its IPO, citing "technical issues" that affected trading in its shares...

BATS officially withdraws its IPO, citing "technical issues" that affected trading in its shares and others. The news caps a memorably ugly day for the trading exchange, one that started with a report of an SEC investigation and only got worse from there.
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Comments (7)
  • SoldHigh
    , contributor
    Comments (1013) | Send Message
     
    BATS is part of the HFT problem.

     

    This is poetic justice.
    23 Mar 2012, 04:11 PM Reply Like
  • zappa86
    , contributor
    Comments (4) | Send Message
     
    What is the "HFT problem"?
    24 Mar 2012, 06:53 PM Reply Like
  • Hendershott
    , contributor
    Comments (1619) | Send Message
     
    You couldn't write a better script than the BATS IPO. Especially for the SEC investigation.
    23 Mar 2012, 04:12 PM Reply Like
  • 6raida5
    , contributor
    Comments (3) | Send Message
     
    Doesnt happen at NYX, just the psuedo markets trying to capitalize on rebates with hft firms
    23 Mar 2012, 07:10 PM Reply Like
  • LKofEnglish
    , contributor
    Comments (4386) | Send Message
     
    did they pull it or go bankrupt?
    23 Mar 2012, 07:21 PM Reply Like
  • Boxed Merlot
    , contributor
    Comments (1586) | Send Message
     
    The shares trading at zero would indicate BK.

     

    Evidently the market now allows do overs if the reserve isn't hit. Kinda like the Mecum Auto auction I suppose.

     

    This HFT driven market is such a farce, and I know SA is trying to put on the best face possible, but when will the muppets say enough is enough?

     

    I gotta believe the last "investors" standing are the TSA employees 401 "contributions" showing up like clockwork to be thrown into some tbtf HFT churning algo to squeeze every last commissionable mil before it's "put to work" in the free market.
    24 Mar 2012, 12:03 AM Reply Like
  • TippingPoint
    , contributor
    Comments (159) | Send Message
     
    I think these guys had BATS in their belfry to even go forward with this.......cue up another hilarious Congressional investigation. Sheesh, US markets look more and more like a joke. I thought Shapiro said " the cop is on the beat" and yet the "cop" is still in the donut store.
    23 Mar 2012, 11:29 PM Reply Like
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