BATS Global Markets, the third-largest US equities trading platform, has filed for an initial public offering.
The exchange platform, which operates as a rival to the New York Stock Exchange and Nasdaq for equities trading, is looking to sell both its own equity and stakes held by its key investors.
BATS is in the process of finalizing the takeover of European equities trading platform Chi-X Europe to gain international reach for its trades.
“The number of shares to be offered and the price range for the offering have not been determined,” it said in the statement.
The bookrunning managers of the proposed offering will be Morgan Stanley, Citi and Credit Suisse.
Last year, BATS Global's US equities segment, its largest business in terms of revenue, had an average daily volume of about $1bn (£612m) worth of shares, giving it about 10.5 per cent market share, the company said in its preliminary filing.
BATS launched in 2005 as an alternative to the national stock exchanges and offers derivatives trading in addition to equities.