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Regulation
Rules
BATS Trading Inc. received approval on August 18, 2008, from
the U.S. Securities and Exchange Commission ("SEC") to operate
as a registered national securities exchange. The transition
into an exchange, from the firm's current regulatory status as
an ECN, is expected to take approximately 60 days from the time
of approval.
The SEC will regulate the Exchange. As a self-regulatory
organization ("SRO"), BATS will oversee and regulate trading
conducted on the Exchange. BATS takes its responsibilities in
this - and every other regard - very seriously and will continue
to work to maintain the integrity of the BATS marketplace as we
transition into and operate as an Exchange.
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