Bats Exchange, an innovative and technology leading U.S. stock exchange, announces the immediate availability of its Multicast Pitch real-time depth of book data feed via Savvis' low latency exchange connectivity technology.
BATS Exchange members that connect to the BATS trading platform can access Multicast PITCH using Savvis' Exchange Express and Community of Interest Network (COIN), Savvis' private managed global network. A Financial Access Extension (FAE) 1 Gigabyte connection enabling very low latency for multicast distribution of market data is also available to members from Savvis' data center.
"We are pleased that Multicast PITCH is now available to BATS Exchange members and market data vendors that connect to BATS' world-class platform through Savvis' fully-managed, global financial extranet," said Chris Isaacson, chief operating officer of BATS Exchange. "These members and market data vendors can begin receiving the Multicast PITCH feed immediately for fast, efficient access to BATS market data."
"We are pleased to provide the low latency network infrastructure that allows BATS to deliver Multicast services to its customers globally," said Varghese Thomas, Savvis Vice President of Financial Services. "When you consider BATS continued global expansion as one of the world's leading trading platforms, combined with the ongoing market volatility, the BATS Multicast PITCH data feed is an ideal option for maintaining and complementing BATS sustained low latency trading experience under all market conditions."
Multicast PITCH can provide up to a 50% reduction in latency with 20% fewer events than the Exchange's PITCH 1.0 feed, a point-to-point depth-of-book market data feed. Multicast PITCH can also allow BATS' market data recipients to more easily redistribute the data within their own networks. Like all other BATS' market data feed offerings, BATS Exchange offers Multicast PITCH free of charge to BATS Exchange members and market data vendors, exclusive of connection charges.
To complement Multicast PITCH, BATS also offers its proprietary "Spin Server" which lets users reconnect to Multicast PITCH intraday and quickly build a snapshot of the state of the electronic order book without having to replay every message of the day.