Bats Global Markets has doubled the number of shares it is to award to employees – worth an extra $10m – in a long-term incentive plan as the third largest exchange operator in the US pushes ahead with its flotation today.

Bats, which is set to go public later today, increased its long-term incentive plan from 525,000 shares to 1,105,263 shares, according to documents filed with the Securities & Exchange Commission yesterday.