* Hemsley set for top job after Bats Chi-X Europe deal
* Haynes to leave firm following completion of deal
By Luke Jeffs
LONDON, April 12 Bats Global Markets has
confirmed European boss Mark Hemsley will run the combined Bats
Chi-X Europe after it buys its rival, while Chi-X chief Alasdair
Haynes will leave the firm.
Bats and Chi-X Europe agreed in February a deal to create
the largest pan-European trading platform, prompting speculation
over which of the chief executives would get the top job, though
Hemsley was seen by traders as the favourite.
"Mark has been an instrumental part of our success in Europe
and I believe he is an ideal leader to take us forward as we
continue to grow, leveraging the momentum that Chi-X Europe and
Bats Europe bring to the table," said Bats Global Markets chief
executive Joe Ratterman.
Bats said Haynes, who has been the chief executive of Chi-X
Europe since December 2009, will leave the group after the
completion of the transaction, which is expected before July
"Alasdair's leadership and vision helped Chi-X Europe become
an industry leader," said Ratterman.
Chi-X Europe, which launched in March 2007 under founding
CEO Peter Randall, grew under Haynes to become the dominant
pan-European trading platform.
Chi-X Europe has a market share of 17 percent, compared to
Bats Europe's 5.6 percent or the London Stock Exchange's (LSE.L)
Turquoise, which has 4.3 percent, Thomson Reuters data show.
The formation of Bats Chi-X Europe, which is subject to
regulatory approval, will create the largest truly pan-European
trading house, with a 22.6 percent market share, and put the
firm on parity with the region's largest exchange groups.
The LSE Group currently accounts for 23.8 percent of
European trading, when that company's UK and Italian exchanges's
shares are added to Turquoise.
NYSE Euronext NYX.N handles 16.7 percent of European
trading and Deutsche Boerse (DB1Gn.DE) has a 13.6 percent market
share, Reuters data show, but they will take top spot if their
planned $10.2 billion merger goes through.
NYSE and the German exchange agreed merger terms in February
but Nasdaq OMX (NDAQ.O) and the IntercontinentalExchange (ICE.N)
launched a rival $11.2 billion bid on April 1. [nN112936078]
(Editing by Mark Potter)