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Our Mission: To make markets better through innovations in technology, performance, pricing, market structure, and customer service.
BATS was founded in June 2005 in a time when market innovation and technology leadership were at risk due to over consolidation in the ECN and Exchange industry. Independent market centers were being bought up, and the number of credible places to trade were rapidly decreasing.
The industry and technology professionals who make up the BATS team are focused on keeping innovation and competition alive in the securities markets. Over the last two years, several large and well respected industry leaders have invested in BATS. Because our employees and investors come from the industry, we are well positioned to help make the markets a better place to do business.
BATS Quick Information
Management Team
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Joe Ratterman
Chairman, President and Chief Executive Officer
Joe Ratterman is president and chief executive officer of BATS Trading, one of the fastest-growing, top-tier equity markets in the United States. Mr. Ratterman joined BATS as a founding employee and served as executive vice president and chief operating officer from 2005 to mid-2007.
"BATS has established itself as an innovative market center in a short period of time, and our talented, goal-oriented team is primed to take BATS to the next level," he said at the time of his appointment in June 2007.
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"Across the board, our team has proven that it can execute and, as we work towards exchange status and our interim objective of 15% matched market share in U.S. equities, we will remain focused on our goal of making markets better," he said.
Prior to joining BATS, Mr. Ratterman was vice president of business development at Tradebot Systems. Previously, he was CIO (chief information officer) at LabOne, the Lenexa, Kan.-based health screening and diagnostic testing company now owned by Quest Diagnostics.
Before being named an officer at LabOne, Mr. Ratterman was CTO (chief technology officer) at Bridge Information Systems from 1990 to 2002.
An accomplished water skier, rock climber, track and distance runner and professional photographer, Mr. Ratterman holds a degree in mathematics and computer science from Central Missouri State University, Warrensburg, Mo. He and his family reside in the Kansas City area.
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Chris Isaacson
Chief Operating Officer and Senior Vice President
Chris Isaacson was promoted to chief operating officer at BATS Trading in July 2007 and is also a senior vice president of the firm.
Mr. Isaacson was previously vice president in charge of operations, a position he had held since 2006. He previously managed the trade desk at BATS and, as a developer, was instrumental in the architecture and implementation of the BATS trading platform.
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"Chris has played a critical role in BATS' growth since joining us as a founding employee in 2005," Mr. Ratterman said. "From day one, he has demonstrated the ability to execute at a high level, and we fully expect his great knowledge of our system and our subscribers to continue to pay great dividends. He is a consummate professional and we couldn't have a more capable person in this role than Chris."
Mr. Isaacson began his career as a software engineer at Cerner Corp., the publicly traded, Kansas City-based healthcare information systems supplier. He was a software developer at Tradebot Systems from 2003 to 2005.
He holds a bachelor's degree in computer science and business from Nebraska Wesleyan University, Lincoln, Neb., and was a two-time Academic All-American while competing in the decathlon. He also earned a master's degree in business administration from the University of Nebraska.
A Nebraska native, Mr. Isaacson and his family reside in the Kansas City area.
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Tami Schademann
Chief Compliance Officer
Tami Schademann is chief compliance officer at BATS with responsibilities for registration requirements, maintenance and retention of records, and general trading practices.
Ms. Schademann joined BATS as a founding employee in 2005 and has run the compliance department since the company began operations. Among her numerous accomplishments, she played a central role in BATS' application with the NASD to become a broker dealer, as well as the firm's application to operate an ECN under Reg ATS with the SEC.
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"We take compliance very seriously at BATS, and Tami's leadership and oversight in this area is invaluable," BATS CEO Joe Ratterman said. "She is instrumental in holding our regulatory and compliance functions to the highest standards and is relentless in her pursuit of keeping BATS in full compliance at all times."
Ms. Schademann came to BATS from Tradebot Systems, where she worked from 2001-2005 and was chief compliance officer. Previously, she was the office manager of Security Investment Company of Kansas City, a former NASD broker dealer, where her many responsibilities included work in accounting, compliance and payroll. She also has experience in the trust divisions of Firstar Bank, Commerce Bank, and Security Bank of Kansas City.
A Kansas City area native, Ms. Schademann remains in the region with her family.
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Jessi Kingsbury
Chief Financial Officer
Ms. Kingsbury was one of the founding employees at BATS and, as the company's chief financial officer, is responsible for all financial functions at the firm, including financial planning and financial reporting.
"Jessi has built an incredibly robust and reliable financial accounting system for BATS, from the ground up," BATS CEO Joe Ratterman said. "Our financial processes run smoothly each and every month and quarter because Jessi and her team do an amazing job of keeping two steps ahead of the company's needs at all times."
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Prior to joining BATS, Ms. Kingsbury was the controller at Tradebot Systems, where she was also an equities trader. Previously, she had responsibility for a number of financial functions at Diversified Management Services Inc., Overland Park, Kan.
Ms. Kingsbury graduated with honors from the University of Missouri-Kansas City with a bachelor's degree in business administration with an emphasis on finance and minor in economics. She was a member of the National Dean's List all four years at UMKC.
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Ken Conklin
Senior Vice President, Business Development
Ken Conklin was promoted to senior vice president, business development, at BATS in January 2008. He brings strong technical knowledge to his current position, and is responsible for maintaining the BATS brand by ensuring consistent messages and branding across all media.
Mr. Conklin joined BATS as a founding employee in 2005 as a software developer and played a key role in the development of the BATS ECN. He has pioneered and led the sales and marketing efforts for BATS as an account manager, sales manager, and vice president of sales.
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During Mr. Conklin's time in charge of sales at BATS, the company has signed dozens of clients nationwide and seen volume rise to more than 500 million shares in a single day.
"In a technology-driven company such as BATS, it only makes sense that a technology professional should lead business development and marketing for the firm. Ken's unique skill set has made him the ideal fit. In his previous position of head of sales, he did a great job of growing volume and our subscriber base and his push in branding the BATS message has been key to our success."
Mr. Conklin joined BATS as a founding employee in 2005 after working as a software developer at Tradebot Systems. Previously, he was a software engineer for Cerner Corp., Kansas City, Mo., and Cyntergy Technology, Tulsa, Okla. He spent the first several years of his career as a financial analyst and commercial lender for Bank of America and Firstar Bank (US Bank).
Mr. Conklin holds a bachelor's degree in economics and business from Kansas State University and also earned a master's degree in computer science, with honors, from the University of Kansas. He and his family live in the Kansas City area.
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Randy Williams
Vice President, Sales and Communications
Randy Williams was named vice president, sales and communications, at BATS in March 2008. He joined BATS in October 2006 as communications specialist.
Mr. Williams is responsible for much of BATS' interaction with external audiences, including journalists and analysts and his work has led to articles from Bloomberg, BusinessWeek, Dow Jones Newswires, Forbes, Reuters, The Economist, The Financial Times, The Wall Street Journal and TheStreet.com, among others.
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"Randy has become one of the defining personalities for BATS and he is truly one of the easiest people to talk to that I know," CEO Joe Ratterman said. "His professionalism and communication with the press, analysts, and our customer base has helped BATS develop and maintain a great standing and professional image in the public eye."
Mr. Williams began his career as a journalist at Dow Jones Newswires in New York and spent 11 years there. From 1998 to 2004, he was assistant managing editor in charge of the spot news operation, supervising a group of more than 50 journalists and statisticians. In 2001, in honor of his work for the newswire Sept. 11, 2001, he received the Dow Jones Circle of Excellence Outstanding Service Award.
Prior to joining BATS, Mr. Williams was vice president with the global public relations consulting firm Fleishman-Hilliard, running the financial practice for its fourth-largest office in Kansas City and managing clients such as the National Stock Exchange, based in Chicago. He was at Starkman & Associates, New York, as senior managing director prior to moving to Kansas City in 2006.
Mr. Williams is a board member of the Kansas City Securities Association.
A former offensive lineman at the University of Illinois and Lehigh University, Mr. Williams graduated from Lehigh with a bachelor's degree in journalism and a minor in public relations. He and his wife reside in Kansas City, Mo.
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Eric Swanson
Senior Vice President, General Counsel
Eric Swanson was hired as general counsel in January 2008 and moved immediately into the role of working with the Securities and Exchange Commission as BATS seeks SEC approval of its exchange application.
He is based in BATS' New York City office.
Mr. Swanson has a significant history with the SEC, having served at the Commission from 1996-2006 and rising to the title of Assistant Director in the Office of Compliance Inspections and Examinations' market oversight unit in Washington. His duties included supervising the Commission's inspection program responsible for regulatory oversight of trading on the securities exchanges and ECNs.
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"We're excited to add Eric to our growing team and look forward to his contributions as we move towards Exchange status," said Chief Executive Joe Ratterman, noting that Mr. Swanson will report directly to him.
"With his strong background and knowledge of the SEC and market centers, Eric is the ideal individual to work with the Commission during this process."
During his tenure at the SEC, Mr. Swanson supervised and conducted inspections and examinations that involved a wide range of issues including best execution, order handling, insider trading, market manipulation, and compliance with Regulation ATS. In addition, Mr. Swanson was responsible for the identification of regulatory risks and the development of parameters for surveillance and examination programs.
A frequent speaker at securities industry functions, Mr. Swanson was most recently chief counsel and vice president of regulatory strategy at Ameriprise Financial. He graduated from the University of Minnesota and earned his law degree at Hamline University School of Law in St. Paul, Minn. He and his family live in New York.
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Mark Hemsley
Chief Executive Officer, European Markets Division
Mark Hemsley joined BATS in April 2008 as chief executive of the BATS Trading European Markets Division, the company's venture which is scheduled to offer trading in late 2008.
“I am excited to take a pioneering role with a company which has had a tremendous impact on the U.S. market in such a brief period of time. I look forward to building a strong, cohesive team which will live up to the BATS credo of 'Making Markets Better®,'” he said.
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“Mark's background in - and knowledge of - the Europe market and trading technology gives us a significant leg up in the region,” Mr. Ratterman said. “We look forward to great success with his leadership.”
Mr. Hemsley was previously managing director and chief information officer at LIFFE, working in its market solutions group. At LIFFE from 2001-2004, he won major contracts with top exchanges and transformed the technology organization to capture greater revenue from its exchange businesses. A LIFFE board member, he was also heavily involved in the sale of LIFFE to Euronext, the predecessor company to NYSE Euronext.
Mr. Hemsley was a managing director of global technology - serving as chief operating officer and a CIO - during his tenure at Deutsche Bank GCI, the investment bank. With the company, he managed teams of professionals in Frankfurt, London, New York, Singapore, Sydney and Tokyo, while working closely with the firm's trading operations.
His previous positions included time as a vice president at Credit Suisse First Boston, where he was global head of foreign exchange technology, and a stint as CIO at Natwest Capital Markets.
Mr. Hemsley lives in London with his family.
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Paul O'Donnell
Chief Operating Officer, European Markets Division
Paul O'Donnell is the chief operating officer of the BATS Trading European Markets Division, joining with Mark Hemsley as the first employees. Mr. O'Donnell joined the team in April 2008.
Mr. O'Donnell was previously an executive director at Morgan Stanley, where he spent 14 years in a variety of positions in information technology and institutional equities in both Japan and the U.S.
“Paul's unique background of market structure analysis, trading strategy development, and technology exemplify the BATS employee profile. We are extremely happy to have Paul on our European team,” Joe Ratterman, BATS' chief executive, said.
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At Morgan Stanley, Mr. O'Donnell was most recently responsible for architecture, planning, deployment and operations of algorithmic trading and smart order routing across a variety of asset classes. He was previously in charge of the automation of the firm's cash equity market making desk. Prior to joining Morgan Stanley, he was a software engineer at Softway Pty Ltd in Australia.
“It has been impressive to witness BATS' impact in the U.S. market and I'm excited to continue partnering with Morgan Stanley and the broker dealer community to produce similar results abroad,” Mr. O'Donnell said.
Paul is an avid amateur cyclist with interests in wine, food and photography. He holds a BSc (hons) in Computer Science and Mathematics from the University of Sydney, and an MBA in Finance from New York University. An Australia native, he and his family will be based in London.
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