Bats Trading, the trading system that has claimed 10% of US equities orders only two years after launching, plans to increase pressure on the largest US exchanges by setting its sights on a 15% market share before the end of this year.

Bats, which was reported by Financial News to be considering a European launch in October last year, also said it is expecting next week to move a step closer to clearance from the US regulator to become an approved exchange, a move that will pitch it in direct competition with the New York Stock Exchange and Nasdaq.