Bats Europe expands Bats+ Primary order routing

Source: Bats Europe

Bats Europe announced today the expansion of its Bats+ Primary order type to include Paris, Amsterdam, Brussels, Lisbon and Frankfurt-listed securities with a routing fee of 0.50 basis points for any execution at the Primary Exchange, effective Monday, 1st November.

BATS Europe, which launched 31st October 2008, released BATS+ Primary in June 2010 for UK-listed securities as an enhancement of its pan-European Smart Order Router (SOR) and to give participants an alternative way to route orders destined for the Primary Exchange. Pricing for BATS+ for UK-listed securities remains the same at 0.28 basis points.

"We are pleased to extend our BATS+ Primary functionality in response to participant demand for additional markets," said Paul O'Donnell, chief operating officer of BATS Europe. "Our smart order routing technology, combined with simple, competitive pricing, offers participants an array of tools and choices to more easily navigate the European markets and optimise their execution costs."

BATS+ Primary orders initially execute on BATS Europe's integrated and dark pool order books if liquidity is available, up to the limit price of the order. Any unfilled shares are then routed as an Immediate or Cancel (IOC) order to the designated primary market for further execution up to the limit price. Any remainders from day orders will rest on BATS Europe's integrated order book.

BATS Europe surpassed 11.0% monthly FTSE 100 market share and 6.0% of the overall European market for the first time in October while also setting records in numerous other indices. October monthly data for BATS Europe, the BATS BZX Exchange, BATS BYX Exchange and BATS Options will be reported later today.


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