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19
Joe Ratterman
Chairman, Chief Executive Officer and President
BATS Global Markets
Last year: 7

BATS Global Markets suffered a technical glitch at the worst possible moment — when it was trying to launch its initial public offering on its own exchange. "I think a lot of stomachs sank," CEO Joe Ratterman says of the March 23 incident. "I know mine did." Ratterman and his Lenexa, Kansas–based team found and fixed a coding error within two and a half hours, but the damage was done: to the IPO, which was postponed, and to the reputation of a leader among the new breed of high-tech exchange operators. Ratterman, 46, will give up his chairman title pending a replacement, and he is repairing BATS's tattered image by keeping priorities in focus. "Every line of business that we're in, we're going to continue to run and build like we were before," he vows. On April 30, BATS's London operation brought Chi-X Europe, a rival acquired five months earlier, onto the BATS trading platform. In terms of value of shares, the combined BATS Chi-X Europe as of April commanded 24.6 percent of pan-European equity trading. BATS's share of U.S. equity trading volume climbed to 11.5 percent in April from 10.9 percent in March. BATS introduced U.S. exchange-traded fund listings in January, and Ratterman is exploring expansion of the equity-trading business into Brazil and Canada.