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Bats unveils options order routing service

16 September 2010  |  2134 views  |  0 Source: Bats Exchange

Bats Exchange announces an enhanced menu of routing services available on the Bats Options platform including simple, aggressive pricing for access to multiple market centers, effective October 1st (subject to filing with the SEC).

BATS will also roll out its new Parallel D smart order routing strategy on the BATS Options platform by October 1st.

"We are again taking competition to a new level by simplifying the way in which options market participants access liquidity from multiple market centers," said Jeromee Johnson, VP and Head of BATS Options. "In addition to BATS' world-class technology and extremely competitive maker-taker pricing, we offer the advantage of sophisticated routing capabilities with very attractive economics."

Under the new routing price structure, orders executed via BATS+ destination-specific routing (BATS +AMEX, BATS+ARCA, etc.) are charged a low liquidity removal fee, in many cases less than direct access fees charged by other market centers.

For orders utilizing BATS smart order routing (CYCLE or Parallel D), BATS will charge $.30 per contract for customer participants regardless of executing venue, or $.50 per contract for firm and market maker capacity participants.

All orders will first sweep the BATS Options book before being routed to away markets. For executions on the BATS Options book, members receive a $.20 rebate per contract for adding liquidity and are charged a low rate of $.30 per contract for removing liquidity, regardless of member capacity or product type.

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