NEW YORK (CNNMoney) -- Shares of BATS Global Markets were halted Friday shortly after the stock made its debut on the company's own exchange.
The exchange operator announced plans Thursday night to sell 6.3 million shares to the public at a price of $16 per share, which was at the low end of its estimated IPO range.
The stock debuted on the BATS Exchange Friday and was halted mid-morning after the price plunged to 4 cents a share.
BATS issued several updates suggesting trading could be restarted but shortly before the market closed, BATS said the stock would not resume trading and that it would cancel any trades that had been made prior to the halt.
Separately, shares of Apple (APPL) were halted after the stock plummeted 9.4%, triggering a so-called circuit breaker. The stock resumed trading after five minutes and was down 0.5% in late afternoon trading.
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BATS is the third-largest exchange operator in the United States after NYSE Euronext (NYX, Fortune 500) and the NASDAQ OMX Group (NDAQ), according to the company's investment prospectus.
The Kansas City-based company operates electronic exchanges for stocks and stock options in Europe and the United States. It is considered one of the largest platforms for high-frequency computer-driven trading.
At the end of 2011, BATS boasted an 11% share of the U.S. equities market and a 3.1% share of the U.S. equities options market.
"Our principal objective is to make markets better by minimizing inefficiencies and mitigating trade execution risk for market participants," the company writes in its prospectus. "We minimize inefficiencies in part by offering low-cost, rapid, trade execution."
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