Source: Bats Trading
Bats Trading announced a new pricing plan for New York Stock Exchange-listed securities for the remainder of 2007, aggressively seeking to continue its September Tape A gains.
Under the program, BATS will pay rebates of $0.0024 per share for adding liquidity to the BATS order book while charging $0.0024 for removing liquidity. Standard routing charges will remain unchanged at $0.0026 per share.
"The results of our September Tape A pricing promotion exceeded our lofty expectations, and this latest move is designed to thank the many subscribers who continue to endorse BATS' business model," BATS Chief Executive Joe Ratterman said. "With an order match rate that is consistently 81%-84% across the board, we see a unique opportunity to continue our growth in all securities."