BATS Global Markets Inc is expected to file a prospectus for an initial public offering as early as December, the Wall Street Journal reported, in what would be the exchange operator's second attempt at going public. BATS is valued at more than $2 billion, including debt, according to the WSJ. BATS spokesman Randy Williams declined to comment.
Morgan Stanley and Citigroup Inc have been tapped to lead a group of banks to work on the IPO, the newspaper reported, citing people familiar with the matter.
The two Wall Street banks acted as lead representatives for underwriters when the company first filed for an IPO in 2012.
The company withdrew its IPO following a debacle that resembled the 2010 "flash crash".
The infamous incident resulted in the company's stock briefly trading for less than a penny.
Around the same time, a bad trade for 100 shares of Apple Inc also went through, triggering a circuit breaker that temporarily halted trading in shares of the iPhone-maker.
The BATS exchange later declared "self-help," due to internal problems in processing trades, forcing the exchange to send trades through other venues.
In the United States, BATS is the second-largest equities market operator, with four stock exchanges - BZX, BYX, EDGX and EDGA. The Kansas City, Missouri-based company also operates BATS' equity options market.