Bats Exchange, an innovative and technology leading US securities exchange, today announced the launch of the Bats 1000SM Index, a US-listed securities benchmark based on the performance of a total of 1000 US-listed securities in 10 defined sectors.
The BATS 1000 Index offers a rare, broad snapshot of the US equities marketplace by tracking the performance of large-cap, mid-cap and small-cap securities that, unlike other indices, are classified in 10 equally-weighted sectors. The top 100 securities in each sector are ranked by market capitalization and form the BATS 1000 Index.
"We are pleased to announce the launch of the BATS 1000 as an index designed entirely by BATS analysts and developers that we believe will illustrate a unique perspective on current US market conditions," said Joe Ratterman, chief executive of BATS Global Markets and BATS Exchange.
"With an innovative method for maintaining the continuity of the index's value, we view the BATS 1000 Index as an opportunity to Make Markets Better for investors and add value to the US marketplace with a reliable, well-balanced benchmark. The BATS 1000 Index is unique as a listing-neutral broad market indicator sponsored by a US securities exchange, and it is equally weighted among 10 important industry sectors.
"Compared to other popular market indices, we feel that the movement of the BATS 1000 index will more accurately depict the direction, intensity and mood of the US market," he said.
To create the BATS 1000, BATS Exchange developed its own stock classification standard, called Better Alternative Sector Exposure Standard (BASES).
BATS Exchange began publishing BATS 1000 data today at www.batstrading.com. The current value of the index is computed regularly throughout the day based on trades that occur on the BATS Exchange. The index value is updated to reflect the consolidated close value at approximately 4:30 p.m. ET.
The exchange officially began tracking BATS 1000 data on July 1st, 2009, with a base value of 10,000. The BATS 1000 value was 11,369.96 as of Friday, September 25th.