The caped crusader will not save the day:
BATS WITHDRAWS IPO
Sheer humiliation for SkyNet (and all those momos who had hoped to flip their BATS shares, but were bailed out by a bidless HFT market once again) which just blew its own foot off.
From Bloomberg:
Bats Global Markets Inc. said it withdrew its initial public offering, according to an e-mailed statement. The company priced the deal yesterday.
“Although our affected market has reopened, in the wake of today’s technical issues, which affected the trading of certain stocks, including that of Bats, we believe withdrawing the IPO is the appropriate action to take for our company and our shareholders,” Joe Ratterman, the company’s chief executive officer, said in a statement.
Asked if the statement meant Bats isn’t going public, Randy Williams, a company spokesman, replied by e-mail, “Yes, that’s correct.”
And from the official PR:
"Although our affected market has reopened, in the wake of today's technical issues, which affected the trading of certain stocks, including that of BATS, we believe withdrawing the IPO is the appropriate action to take for our Company and our shareholders," said Joe Ratterman, chairman, president and CEO of BATS Global Markets.
No Waddell And Reed was scapegoating in the making of this epic HFT farce.
http://www.zerohedge.com/news/bats-withdraws-ipo
BATS Exchange Declares Self-Help Against... Itself; Trading Halted "Until Further Notice"
Submitted by Tyler Durden on 03/23/2012 - 11:39
SkyNet is now sentient, and has commenced rebelling against its creator, following the BATS exchange announcement of self help against.... Itself.
BATS BYX Exchange has declared self-help against BATS BZX
March 23, 2012 11:07:25 ET
BATS BYX Exchange has declared self-help against BATS BZX per Rule 611 of Regulation NMS. Routing to BATS BZX has been suspended as of 11:07:04 ET.
Comments: 140
Reads: 8,384
http://www.zerohedge.com/news/bats-exchange-declares-self-help-against-itself
SkyNet Is Now Cannibalizing Itself: BATS IPO Flash Crashes
Submitted by Tyler Durden on 03/23/2012 - 11:24
Presented with little comment - except the irony is simply too much to bear as BATS crashes from $15.75 to $0.038 in minutes...perhaps reflecting the WSJ article on HFT abuse and that BATS is being investigated for HFT abuse (ahem) on the day it goes public. We note that there were some trades executed at $0.00! The reason for the crash apparently is because BATS stock is ony trading on the BATS exchange, where apparently the APPL halt second before also happened. Pretty much tells us all we need to know about the stability of broken market structure. In other news, the stock, and exchange, have now been renamed BATShit - perhaps the VVIX can trade there next or something... And they wonder why nobody trades this farce of a market any more.
Comments: 98
Reads: 9,086
http://www.zerohedge.com/news/skynet-now-cannibailizing-itself-bats-ipo-flash-crashes
I love it, these HFTing pos are starting to eat themselves, weeeeeeeeeeeeeeeeeeeeeeee
Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.
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