Bats Europe, the region's largest stock exchange by value of shares traded, has appointed a leading name in electronic trading as a non-executive director.

Richard Balarkas, who was chief executive of agency broker Instinet Europe between 2008 and 2012, joined the board of Bats on February 3, according to Companies House filings. He replaces Bill Eldridge, a former Royal Bank of Scotland executive, who stepped down on the same date, the filings show.