Bats Chi-X Europe, the largest pan-European equities market operator by market share and notional value traded(1), today announced updated pan-European trading tariffs for its BXE and CXE lit order books, effective from 1st January 2013.
BATS Chi-X Europe will offer the lowest liquidity removal rate in Europe on its BXE lit order book with a 0.15 basis points charge. There will be no rebate or charge to add liquidity to the BXE lit order book.
For adding liquidity to the CXE lit order book, trading participants will receive a rebate of 0.15 basis points and the competitive 0.30 basis points fee for removing liquidity from the CXE lit order book will remain unchanged.
Pricing for the BXE and CXE dark order books remains unchanged.
"With our enhanced tariff schedule, we aim to clearly differentiate our lit order books to support diverse trading opportunities and choice for customers alongside the variety of trading dynamics that already exist within our markets. At the same time, we continue to offer very competitive pricing compared to the cost of trading on the incumbent exchanges," said Mark Hemsley, chief executive officer of BATS Chi-X Europe.
"Customers also have an opportunity to realise cost savings when using our newinterbook sweep orders, which allow them to maintain only one connection and gain simple, efficient access to both of our lit books or both dark books," he said.
1)Based on BATS Global Markets European market share data from November 2011-October 2012.