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Proposed BATS, Direct Edge merger clears a regulatory hurdle

Wednesday, 23 Oct 2013 | 10:16 AM ET

Oct 23 (Reuters) - U.S.-based exchange operators BATS Global Markets and Direct Edge said on Wednesday their proposed merger has been cleared by the U.S. Department of Justice.

The companies, which together would represent the No. 2 U.S. equities exchange, said they will now focus on earning approval from the U.S. Securities and Exchange Commission. The transaction is expected to close during the first half of 2014.

(Reporting by John McCrank; Editing by Gerald E. McCormick)