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Article: Eyeing Exchange Status, Ratterman in Charge At BATS; Cummings Returns to Tradebot.(Company overview)
- Article from:
- Securities Industry News
- Article date:
- July 9, 2007
- Author:
CopyrightCOPYRIGHT 2007 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Securities market entrepreneur and market-center gadfly David Cummings will no longer be so closely identified with the BATS Trading electronic communications network (ECN) that he founded and that has had a major impact on institutional stock trading since it opened early last year.
BATS at the end of June announced the promotion of EVP and COO Joe Ratterman to replace Cummings, who stepped down as CEO to return to Tradebot Systems, the black-box trading powerhouse he formed in 1999. Cummings said he will remain on the BATS board and serve as an adviser on market-structure issues, but with BATS planning to become a full-fledged exchange, he would have been ...