Source: Bats Trading
Bats Trading announced price cuts for outbound routing of securities priced at less than $1, effective Aug. 1, 2007.
For all securities priced at less than $1, BATS will reduce its fees to 0.26% of the total dollar value of routed executions in those securities. The previous charge was $0.0026 per share on routed executions.
"BATS is pleased to announce this price cut in direct response to feedback from our subscribers," said Chief Executive Joe Ratterman. "This change aligns our pricing methodology for stocks priced both above and below $1. Keeping our prices aggressive is just another way that BATS is making markets better."
It remains free to add or remove liquidity from the BATS book in securities priced less than $1. BATS maintains its aggressive pricing structure for all Tape A, B and C shares priced at more than $1.