Bats is looking to compete for a share of trades made around the daily closing auctions

The New York Stock Exchange and Nasdaq are fighting against plans by rival venue Bats to compete for a share of the trades made around the daily closing auctions, 

Alexander Osipovich writes for The Wall Street Journal

Bats’ proposal would "introduce undesirable market fragmentation and volatility", NYSE 

 to the Securities and Exchange Commission published online on Thursday. 

 called the plan "harmful to investors" and said it "would establish a dangerous precedent".

NYSE and Nasdaq push back against rival’s end-of-day auction plans

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