BATS Global Markets
- Company typePublic
- Founded1973
- HeadquartersLenexa, United States
- Headcount101–250
- GTM typeB2B
- OfferingServices
BATS Global Markets firmographics
Firmographics- Name
- BATS Global Markets
- Legal name
- Cboe Exchange, Inc.
- Website
- https://batsglobalmarkets.com
- Company type
- Public
- Founded year
- 1973
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Ownership category
- akta.pro rank
BATS Global Markets industry classification
Industry- Product category
- Securities Exchange Services
- NAICS
- Securities and Commodity Exchanges (523210), Securities and Commodity Exchanges (5232), Securities and Commodity Exchanges (52321)
- SIC
- Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Commodity Contracts Brokers & Dealers (6221)
- akta.pro primary industry
- Equities Trade Execution Platforms (ATS/MTF/ECN) (FSAFANAA)
Keywords
Where BATS Global Markets is headquartered
LocationHeadquarters
- HQ city
- Lenexa
- HQ country
- United States
- HQ region
- North America
Markets served
BATS Global Markets business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Technology or R&D, Infrastructure, Personnel, Operations, Marketing or Sales
Revenue model
- Exchange Trading Fees: Transaction and trading fees charged for executing options, futures, and equity trades on Cboe exchanges. Revenue is generated per trade/contract basis.
- Market Data Services: Sales of real-time and historical market data from Cboe exchanges to institutional and retail customers. Includes Cboe Market Data Services, Data Vantage, and DataShop.
- Index Licensing: Licensing of proprietary indices including VIX, SPX, and custom indices to exchanges, funds, and financial products globally.
- Listing Fees: Fees for listing equities, ETFs, and other securities on Cboe exchanges across US, Europe, Canada, and Australia.
Go-to-market motion2 records
Distribution channels3 records
Marketing channels5 records
BATS Global Markets product offering
Product offeringCore offering
BATS Global Markets operates U.S. equities exchanges (BZX, BYX, EDGX, EDGA) as a wholly-owned subsidiary of Cboe Global Markets. The company provides exchange-based trading infrastructure for options, futures, equities, and ETFs, alongside proprietary index products such as VIX and SPX derivatives, market data services, and listings across U.S., European, Canadian, and Australian markets.
Product overview
BATS Global Markets operates as a comprehensive financial exchange and trading platform, offering one of the world's widest arrays of volatility and derivatives products. The core offering centers on the VIX Index ecosystem (VIX Options, VIX Futures, Mini VIX Futures) and S&P 500 Index Options (SPX, XSP, NANOS), alongside equity index derivatives, cryptocurrency derivatives (Bitcoin ETF Index Options, Continuous Futures), credit derivatives, and prediction markets. The platform integrates data and analytics services including Cboe Data Vantage, Cboe Market Data Services, Cboe DataShop, Cboe Options Analytics, Cboe LiveVol (acquired brand), Cboe Silexx (order execution management), FT Options (portfolio analytics), and Trade Alert (real-time alerts). BIDS Trading provides institutional block trading capabilities. Education is delivered through The Options Institute, while Cboe Labs drives product innovation. The platform serves global markets including U.S., Europe, Canada, Australia, and Foreign Exchange, with listings, clearing, and access services supporting the ecosystem.
Differentiator
Problem solved
Functional benefit
Brands
- BATS: Equity trading platforms acquired by Cboe in 2017, including BZX, BYX, EDGX, and EDGA exchanges.
- BIDS Trading
- Cboe Options Institute
- Cboe Data Vantage
- Cboe Titanium
Products and services
- VIX Options
- VIX Futures
- Mini VIX Futures
- S&P 500 Index Options (SPX)
- XSP Options
- NANOS Index Options
- Magnificent 10 Options
- Magnificent 10 Futures
- Bitcoin U.S. ETF Index Options
- Continuous Futures
- FLEX Options
- 0DTE Options
- Credit Suite
- Prediction Markets
- Cboe Data Vantage
- Cboe Market Data Services
- Cboe DataShop
- Cboe Global Indices
- BIDS Trading
- Cboe Titanium
- The Options Institute
Companies that use BATS Global Markets
Customer profileSegments3 records
Ideal customer profiles3 records
BATS Global Markets technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
BATS Global Markets partnerships and signals
Strategic signalScale indicators2 records
Recent moves6 records
Expansion highlights5 records
BATS Global Markets competitors and assessment
Company assessmentDirect peers
- CME Group: Largest US derivatives exchange operator offering futures and options on interest rates, equities, FX, commodities, and increasingly crypto. Directly comparable as a multi-asset, multi-geography exchange competitor with overlapping product lines (VIX futures competition, equity index options, crypto derivatives).
- Intercontinental Exchange (ICE): Operates major equities and derivatives exchanges including NYSE and ICE Futures, plus fixed income (BondPoint) and mortgage markets. Directly comparable as a diversified global exchange operator with significant derivatives and listings franchises overlapping Cboe's footprint.
- Nasdaq: Operates US equity exchanges, a leading options market (Phlx), Nordic exchanges, and index/analytics businesses. Directly comparable as a competitor in US equity and options trading, with overlap in market data, index licensing, and listings.
- Deutsche Börse: Operates European exchanges (Frankfurt, Xetra), Eurex derivatives, and the STOXX index family. Comparable as a European-headquartered multi-asset exchange competitor, particularly in equity index derivatives and index licensing.
- London Stock Exchange Group (LSEG): Owns the London Stock Exchange, Borsa Italiana, Turquoise, FTSE Russell indices, and Refinitiv data services. Comparable as a global exchange and market infrastructure peer with overlap in equities trading, index licensing, and market data.
Broad incumbents
- ICE Futures Europe / LIFFE heritage exchanges: Long-dated European derivatives exchange heritage now under ICE. Comparable in offering interest rate, equity index, and commodity derivatives that compete with Cboe's growing European footprint and global volatility product suite.
Emerging players
- Miami International Holdings (MIAX): US options exchange operator that has rapidly gained share in equities and options listings since 2012. Comparable as a US options exchange peer competing for volume in equity and ETF options that overlap with Cboe's listings franchise.
- Kalshi: CFTC-regulated prediction market / event-contract exchange. Comparable as a competitor in Cboe's newer prediction markets business, with overlapping product economics around event-based derivatives.
Others
- Tradeweb Markets: Operates electronic trading platforms for fixed income, derivatives, and ETFs. Comparable as a trading-venue peer with adjacent institutional client base and similar transaction-fee revenue model.
- MarketAxess: Electronic trading platform for fixed-income credit, particularly corporate bonds. Comparable as an electronic-trading-venue peer with overlapping institutional fixed-income and credit-derivative ambitions relevant to Cboe's Corporate Credit Suite.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
BATS Global Markets social profiles
Digital presenceBATS Global Markets financial estimates
Financial estimateRevenue estimate
Valuation estimate
BATS Global Markets leadership team
Management profileNumber of profiles
BATS Global Markets subsidiaries and ownership
Company hierarchySubsidiaries6 records
BATS Global Markets funding detail
Funding detailFunding overview
Funding rounds1 record
Investors2 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
BATS Global Markets M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about BATS Global Markets
What does BATS Global Markets do?
BATS Global Markets operates U.S. equities exchanges (BZX, BYX, EDGX, EDGA) as a wholly-owned subsidiary of Cboe Global Markets. The company provides exchange-based trading infrastructure for options, futures, equities, and ETFs, alongside proprietary index products such as VIX and SPX derivatives, market data services, and listings across U.S., European, Canadian, and Australian markets.
Is BATS Global Markets a public or private company?
BATS Global Markets is a public company. It is classified as corporate owned and is currently operating.
When was BATS Global Markets founded?
BATS Global Markets was founded in 1973. It employs 101 to 250 people.
Where is BATS Global Markets based?
BATS Global Markets is headquartered in Lenexa, United States, in the North America region.
How does BATS Global Markets make money?
Four revenue lines are on record. Exchange Trading Fees are the primary driver. The others are market Data Services, index Licensing and listing Fees.
Who are BATS Global Markets's main competitors?
Direct peers on record are CME Group, Intercontinental Exchange (ICE), Nasdaq, Deutsche Börse and London Stock Exchange Group (LSEG). ICE Futures Europe / LIFFE heritage exchanges is listed as a broad incumbent. Emerging players are Miami International Holdings (MIAX) and Kalshi. Others are Tradeweb Markets and MarketAxess.
Does BATS Global Markets have an API?
No public API is recorded for BATS Global Markets.
What industry is BATS Global Markets in?
BATS Global Markets's product category is Securities Exchange Services. Its primary akta.pro industry code is FSAFANAA, Equities Trade Execution Platforms (ATS/MTF/ECN). Its NAICS code is 523210 and its SIC code is 6200.