Merrill Lynch is to become the latest Wall Street bank to invest in Bats Trading, the US equity trading system that has built up a 14% stake in the trading of Nasdaq-listed securities since its launch in June 2005.
The Wall Street Journal reports that the investment bank will take a minority stake in the Kansas-based equity matching platform. It joins existing shareholders Credit Suisse, Lehman Brothers, Lime Brokerage and Morgan Stanley.