US trading platform BATS’ newly acquired exchange status will help it garner a 15% matched share of the US equities market by year-end, according to Randy Williams, BATS’ vice president of sales and communications. The platform achieved an all-time-high market share of 11.11% on 14 August.

BATS today received approval from the US Securities and Exchange Commission to convert from an electronic communications network (ECN) to a full exchange. BATS is aiming to complete the transition within 60 days and is urging brokers to complete membership agreements immediately.

“We expect to reach 15% US matched market share between now and the need of the year. It’s an ambitious target but we think we can get there,” Williams told theTRADEnews.com. “The agreement makes a big difference. We have been gaining market share regardless but this is going to play a big role.”