Market Overview

BATS CEO: We Apologize, But These Things Happen


Joe Ratterman, CEO and President of BATS Global Markets, came on CNBC on Monday to apologize for the company's false start of its own IPO last Friday and the shakeup it caused in investor confidence.

"My heart sank the moment things started to unwind, and every BATS associate feels terrible following Friday's events," he told CNBC's Jim Cramer when asked whether the company had anything to say to the wide investing community.

"Bottom line is, we are going to have to regain the confidence of the investing community and our shareholders, but these things happen," he continued, brushing off Friday's troubles as bad luck. "This could have happened to anyone."

Asked whether anyone was going to get fired over the fiasco, Ratterman offered that he was ready to accept any consequence that was forthcoming. "Obviously, I serve at the pleasure of the company's board of directors. If they deem a change in leadership is necessary due to Friday's events, I would be ready to step down."

Ratterman noted that Friday's failed IPO stood against six years of strong performance from the company for the past six years, which gave him the confidence that investor trust would be gained back. That said, he did not see any immediate plans for another IPO anytime soon.

Posted-In: CNBC News Jim Cramer Movers & Shakers Psychology Crowdsourcing Management IPOs Best of Benzinga


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