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Published: Monday, 3/26/2012

BATS apologizes for computer error


NEW YORK — The CEO of BATS Global Markets is offering a public apology for withdrawing his company’s initial public offering after an embarrassing computer glitch.

“BATS experienced a serious technical failure Friday morning and I want to apologize for not measuring up,” said Joe Ratterman, CEO of BATS in a mass email addressed to customers and members of the trading community.

In the email sent Sunday evening, Mr. Ratterman wrote of his and BATS humiliation.

“On Friday we were under the brightest spotlight imaginable . opening our own stock on our own exchange for the first time ever. It doesn’t get much more public than that,” said Mr. Ratterman. “It shouldn’t have failed, but it did, and the timing couldn’t have been worse.”

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