BATS Global Markets and Direct Edge said Monday they have agreed to merge.
Terms of the deal, which is expected to close in the first half of 2014, were not disclosed.
BATS CEO Joe Ratterman will remain in the same role and Direct Edge CEO William O'Brien will be named president.
The four U.S. equity exchanges run by BATS and Direct Edge will remain in operation. These include the BATS BZX and BYX Exchanges and the Direct Edge EDGX and EDGA Exchanges.