Updated with commentary from the Securities and Exchange Commission and BATS
NEW YORK ( TheStreet) -- Trading glitches at the high-speed electronic exchange BATS Global Markets (BATS) forced the withdrawal of the company's IPO Friday along with a dramatic, brief halt in Apple's (AAPL) shares.
The blowup could revive inquiries into high-speed trading almost two years after a "Flash Crash" roiled global stock markets.
"You would have thought this would be BATS' greatest day in their history; it's ended up to be a nightmare," says Scott Sweet, senior managing director at IPO Boutique.A BATS spokesperson said that the company currently has no new IPO plans. The company's failed listing on its own exchange also casts doubt over the ability for private exchanges to handle share offerings. "Their aspiration of getting into IPOs has certainly taken a very hard knock," Sweet said.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV