The exchange owned by a number of big US banks and trading companies sets the range for a flotation which will see it trade on its own exchange.

Exchange business Bats Global Markets is set to raise up to $113.3m after it set its initial public offering range at $16 per share to $18 per share, the company’s Securities and Exchange Commission filing said yesterday.

The company will list on its own Bats Exchange and follows reports that all-electronic cash equities exchange peer Direct Edge might also reach an exit through a flotation or trade sale. Direct Edge is owned by Knight Capital Group, Goldman Sachs,…