Davis Polk is advising BATS Global Markets, Inc. in connection with its acquisition of Chi-X Europe Limited. The transaction, which is expected to close in the second quarter of 2011, is subject to certain regulatory approvals. The financial terms of the transaction were not disclosed.
BATS Global Markets is a global financial markets technology company. Founded in June 2005, BATS operates two stock exchanges in the U.S., the BZX Exchange and BYX Exchange; BATS Options, a U.S. equity options market; and BATS Europe, an FSA-authorized multilateral trading facility in Europe. Launched in March 2007, Chi-X Europe Limited is an FSA-authorized securities firm operating a multilateral trading facility for the trading of more than 1,300 of the most liquid securities across 24 indices and 15 major European markets, as well as ETFs (exchange traded funds), ETCs (exchange traded commodities) and IDRs (international depositary receipts) in both a visible order book and the Chi-Delta non-displayed order book.
The Davis Polk corporate team includes partner Leonard Kreynin and associate Joanna A. McGinley of the London office. The regulatory team includes partner Robert L.D. Colby and associate David L. Portilla, both of the Washington DC office. The tax team includes partner Neil Barr and associate Aharon Illouz. Counsel Stephen M. Pepper is providing antitrust advice. Except as noted above, all members of the Davis Polk team are based in the New York office.
D.C.