MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Monday, March 26, 2012 Fidelity's National Financial Shrugs Off BATS Flap Fidelity and other financial services firms are shrugging off glitches in an alternative stock exchange. Reuters reports that on Friday BATS Global Markets launched and then reversed its initial public offering on its own exchange, with the retraction coming after software glitches stopped trades in Apple's shares and pushed BATS' own shares to zero. Fidelity Investments did not comment to the wire service on whether or not its giant National Financial clearing unit will continue to use BATS. National Financial used BATS for up to 11 percent of customer orders last quarter, according to Reuters. "Fidelity has many venues available to our traders, so this will have no effect on us. We monitor the connections to, and the performance of, all trading systems that we interact with," the mutual fund company said in a statement. Other BATS users include Goldman Sachs and Credit Suisse Printed from: MFWire.com/story.asp?s=39554 Copyright 2012, InvestmentWires, Inc. All Rights Reserved |