BATS Exchange expands recent price cuts with a USD.0001 per share REBATE for removing liquidity, that now include all securities, via its opt-in Dark Scan strategy.
BATS Exchange also cut its default routing rate to USD.0025, the lowest rate among major market centers. With many other markets charging higher remove fees, often at USD.0029 and USD.0030 per share, BATS routing technology, combined with the ultra-low USD.0025 routing fee, proves to be a powerful combination for BATS customers.
The new pricing is be effective 1 May, pending filing with the Securities and Exchange Commission (SEC).
For stocks traded on BATS Exchanges displayed market, the firm is simplifying its fee schedule for Tape A, B and C securities with a tightened 1-mil spread, offering a rebate of USD.0024 for adding liquidity and a charge of USD.0025 for liquidity removal.
BATS is also keeping its one-under routing plan in place, charging reduced rates for customers to use its BATS + NASDAQ, BATS + NYSE Arca, and BATS + NYSE Floor order types at USD.0029, USD.0027 and USD.0017, respectively.
BATS Exchange remains focused on offering a simple but aggressive fee structure so more market participants can enjoy the economic and performance benefits of our world-class matching engine and smart order router, says Joe Ratterman, CEO, BATS Exchange.
L.D.