[By NBC-1TV H. J Yook]BATS Global Markets, Inc. (BATS) and Direct Edge Holdings LLC (Direct Edge) today announced the completion of their merger on January 31, 2014, creating one of the world’s largest stock exchange operators.

In January, combined US market share of the BATS and Direct Edge exchanges reached 20.54% compared to US exchanges operated by NYSE Euronext (20.58%) and Nasdaq OMX (20.02%). In Europe, BATS again finished January as the largest stock exchange with market share of 22.11%.

The combined company, which will operate under the BATS Global Markets brand, is the #1 US exchange operator by market share for all exchange-traded funds as well as the top exchange for retail-driven liquidity, according to most recent data. Joe Ratterman serves as CEO with William O’Brien as President.

“Completion of the merger creates an even stronger competitor and advocate for the benefit of all market participants,” Mr. Ratterman said. “With the Direct Edge team, we are excited to embark on a new path to deliver even greater innovation and competition, challenging the status quo globally.”

Mr. O’Brien added: “With a focus on customers, we have designed the combined company to deliver meaningful value through preservation of choice, reduced costs and technological compatibility. Our products and approach make BATS a true partner with our customers, and position us to further expand our services and relationships to benefit traders, investors and issuers.”