This week's debate on CNBC between BATS Global Markets President William O'Brien and IEX's Brad Katsuyama caused a sensation.
Today, BATS issued a correction of a statement made by O'Brien during the interview.
The correction involved a heated discussion over what feeds Direct Edge—which was bought a short while ago by BATS—uses to price trades.
"What do you use to price trades in your matching engine on Direct Edge?" Mr. Katsuyama asked Mr. O'Brien.
Mr. O'Brien said, "We use the direct feeds," Mr. O'Brien said.
When Mr. Katsuyama said Direct Edge used the slower SIP (Securities Information Processor), Mr. Obrien insisted they did not.
Turns out, Mr. Katsuyama was right. BATS released the following statement: