Bats Global Markets today announced new pricing for its Bats BZX Exchange offering a rebate of $0.0027 per share for adding displayed liquidity to the BZX book and charging $0.0028 per share for removing liquidity, beginning November 1st.
The pricing changes reflect an increase of $0.0003 per share in both the rebate and the fee from the previous $0.0024 per share rebate for adding liquidity and $0.0025 per share charge for removing liquidity. Other BZX Exchange pricing, including smart order routing, remains the same.
"We believe now is the right time to increase pricing competition in the US equities market having completed a successful rollout of the BATS BYX Exchange, our second equities exchange, which allows for more flexibility in pricing the BZX Exchange," said Chris Isaacson, chief operating officer of the BATS Exchanges.
"With the new pricing, the BZX Exchange now offers an increased rebate for adding displayed liquidity, as well as an attractive liquidity removal rate that is less than many of our competitors. The new and differentiated BZX Exchange and BYX Exchange pricing models allow us to better serve our broad and diverse US customers," he said.
Earlier this month BATS launched their second US equities exchange, the BYX Exchange, which uses a price-time priority market model with a differentiated fee schedule featuring ultra-aggressive pricing that offers liquidity removers a $0.0003 per share rebate and does not charge members for adding displayed liquidity.
BATS BZX Exchange launched in October 2008 after converting from an electronic communications network. BATS Global Markets also operates BATS Europe and BATS Options.