BATS' Rough Start Not Effecting Its ETFs (BATS, ENOR, EDEN)

BATS Global Markets (BATS: BATS) is off to a dubious start as a public company today. Not only did the third largest stock exchange company in the U.S. sell its shares at the low end of the expected $16-$18 range, the stock proceeded to open lower by almost 5%.

Then there was the matter of a <href>BATS flash crash. Benzinga contacted the company's spokesperson who said that the the flash crash in the stock was due to the failure of a matching engine. The spokesperson also confirmed that the odd print and subsequent halt in Apple was caused by the BATS failure.

BATS is hoping to resume trading in its shares at some point today. The good news, if there is any, is that these situations aren't affecting trade in BATS Exchange's first listings those being eight iShares ETFs.

Those ETFs debuted in late January and early February, giving BATS a feather in its cap, courtesy of BlackRock's (NYSE: BLK) iShares unit, the world's largest ETF sponsor.

At last check, the iShares MSCI Norway Capped Investable Market Index Fund (BATS: ENOR), the first of the iShares funds to trade on BATS, was trading smoothly, up almost 2% on light volume. iShares MSCI Denmark Capped Investable Market Index Fund (BATS: EDEN) was also seen higher on light trade while the iShares MSCI Finland Capped Investable Market Index Fund (BATS: EFNL) is trading higher on above average turnover.

Volume is light in the Shares MSCI Canada Small Cap Index Fund (BATS: EWCS) and the iShares MSCI India Small Cap Index Fund (BATS: SMIN), but there doesn't appear to be anything unusual about the activity with those funds. Same goes for the iShares MSCI Australia Small Cap Index Fund (BATS: EWAS).

The most unusual scenarios spotted today with BATS-listed ETFS are either the iShares MSCI United Kingdom Small Cap Index Fund (BATS: EWUS) moving lower on almost double the average daily volume or the Shares MSCI Germany Small Cap Index Fund (BATS: EWGS) surging on more than triple the average daily volume, though neither situation appears to be the result of issues with the BATS IPO.</href>