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Bats reports profit increase ahead of CBOE merger

Merger with the operator of the Chicago Board Options Exchange is expected to complete by the end of the first quarter

Bats reports profit increase ahead of CBOE merger

Bats Global Markets reported a 50% increase in fourth-quarter net profit in what will likely be the exchange group's last set of results before completion of its $3.2 billion takeover by CBOE Holdings, the operator of the Chicago Board Options Exchange.

Net profit rose to $32.5 million in the three months ended December 31, from $21.7 million the corresponding quarter a year earlier.

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