Exchange operators BATS and Direct Edge to merge

Mon Aug 26, 2013 9:15am EDT

Aug 26 (Reuters) - BATS Global Markets Inc and Direct Edge Holdings said on Monday they would merge in a deal that would create the second-largest U.S. stock exchange.

Financial terms of the transaction, which is expected to close in the first half of 2014, subject to regulatory approvals, were not announced.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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