F1The shares of common stock of Bats Global Markets, Inc. reported as beneficially owned consist of 4,027,808 shares of the Issuer's common stock held of record by BGM Holding, L.P. BGM Holding GP, LLC is the general partner of BGM Holding, L.P. BGM Holding GP, LLC is 50% owned and controlled by Spectrum Equity Investors VI L.P., which may be deemed to share voting and dispositive power over the shares held by BGM Holding, L.P. The general partner of Spectrum Equity Investors VI L.P. is Spectrum Equity Associates VI, L.P., the general partner of which is SEA VI Management, LLC, over which Brion B. Applegate, William P. Collatos, Victor E Parker, Christopher T. Mitchell, one of the Issuer's directors, and Benjamin C. Spero exercise voting and dispositive power. Each of the Reporting Persons disclaims beneficial ownership of the shares held by BGM Holding, L.P. except to the extent of any pecuniary interest therein.