Bats Global Markets today announced that its new US equities exchange, Bats BYX Exchange, completed its rollout Friday, October 22.
BATS BYX Exchange averaged volume of 27 million shares per day in the first five trading sessions since completion and hit a new single day record of 37.5 million shares on Thursday, October 28, 2010.
The new exchange went live Friday, October 15 in four symbols and rolled out trading in all other US-listed securities over the ensuing five sessions.
The BYX Exchange uses a price-time priority market model with a differentiated fee schedule offering liquidity removers a $0.0003 per share rebate.
BATS also operates the BATS BZX Exchange, which launched October 24, 2008, after converting from an electronic communications network. BATS Global Markets also operates BATS Europe and BATS Options.