BATS makes senior hires in market data and ETF listing businesses
BATS Global Markets has made two new hires in its market data and ETFs listing business, the latest sign that exchange operators are looking to diversify as technology continues to disrupt traditional revenue streams.

BATS Global Markets (BATS), a global operator of exchanges and services for financial markets, has made two new hires in its market data and Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term-traded funds (ETFs) listing business, according to a BATS statement.

Kal Chan has stepped into the role of Director of Market Data Sales at BATS, while Robert J. Marrocco will assume the role of Director of Listings, whose respective appointments are effective immediately.

Mr. Chan brings over eight years of industry experience to BATS, having recently joined the group prior to the new appointment. Before joining BATS, Mr. Chan was tasked with sales and account management at Interactive Data. Additionally, he has also worked at Bloomberg as a sales and account manager.

Mr. Marrocco joins BATS from the New York Stock Exchange Stock Exchange A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin Read this Term (NYSE), having worked as an Associate on the Global Index and Exchange Traded Products team – in this capacity he specialized in new exchange traded product (ETP) listings and supported NYSE Arca’s existing ETP business.

In their new roles at BATS, both Mr. Chan and Mr. Marrocco will be based in the group’s New York office. Mr. Chan will be reporting to Drew Carey, Director of Market Data Sales, while Mr. Marrocco will be reporting to Laura Morrison, Senior Vice President, Global Head of Exchange Traded Products at BATS.

According to Bryan Harkins, Executive Vice President and Head of U.S. Markets at BATS in a recent statement on the appointments: “We are pleased to have two talented individuals such as Kal and Rob join our team. Kal’s expertise in market data sales and Rob’s experience in ETP listing and trading will enable us to further strengthen our services and offerings in these two key areas. Kal and Rob will play a critical role as we grow our business, while also ensuring that we continue to deliver a robust experience for each and every one of our clients. “

Last week, BATS made headlines after its London Foreign Exchange (FX) matching engine went live following months of hype – the unit will operate under the newly-acquired subsidiary, HotSpot FX.