KANSAS CITY, Mo. & NEW YORK--(BUSINESS WIRE)--BATS announces the conclusion of two separate investigations into the development of order types; one relates to BATS and the other relates to Direct Edge. With regards to BATS, the Securities and Exchange Commission (SEC) has concluded its investigation with no action taken, and we are pleased to have this matter formally closed. With respect to Direct Edge, the SEC is taking an enforcement action against the legacy Direct Edge exchanges with respe