Exchange operator BATS Global Markets Inc , whose shares traded briefly on Friday before being halted due to technical glitches, said it is withdrawing its initial public offering.

In the wake of today's technical issues, which affected the trading of certain stocks, including that of BATS, we believe withdrawing the IPO is the appropriate action to take for our company and our shareholders, said Joe Ratterman, CEO of BATS Global Markets.

The debut of BATS Global Markets Exchange was overshadowed by a series of blunders, including its own shares erroneously trading for less than a penny and confusing investors.

(Reporting by Sharanya Hrishikesh in Bangalore; Editing by Joyjeet Das)