BATS Global Markets, a US-headquartered stock exchange operator, is set to go public tomorrow.
The company's initial public offering (IPO) is expected to be valued at around $250m (£176.5m), making it the biggest US deal of the year so far.
The firm is offering 13.3m shares of its common stock, which are expected to be priced between $17 and $19.
City A.M. understands BATS also has an option to sell an additional 2m shares.
BATS has applied to list the shares on its own exchange, the BZX Exchange, with Morgan Stanley and Citigroup acting as lead underwriters.
Renaissance Capital's IPO Center said BATS' IPO was expected to be the largest of the year so far and the first with positive operating income.
According to the organisation, it will be the 10th US IPO to complete this year.
It is BATS' second attempt at an IPO, after it was forced to withdraw an offering in 2012 after a computer malfunction meant its stocks couldn't trade.