BATS Exchange will cut prices as of 1 April 2009, offering a rebate of $0.0001 a share for removing liquidity in stocks priced below $5, and reducing pricing for its BATS + NYSE order type.
In addition to lowering route fees for the BATS + NYSE floor order type to an ultra competitive $0.0017, the Exchange will also cut its standard route rate to other markets to just $0.0026 per share (from $0.0029).For stocks above $5, BATS Exchange will maintain its inverted Tape B pricing at $0.0028 and will adjust its liquidity rebate to $0.0023 for Tape A and C stocks. The remove rate for Tapes A and C remains highly competitive at $0.0025.
This is our first major pricing change since January 2008 and, while pricing is the subject today, our members enjoy trading on BATS Exchange because of our superior and dependable technology, leading customer service, and consistent innovation benefitting the market, says Joe Ratterman, CEO, BATS Exchange.
We are pleased to offer firms greater opportunity to access the tremendous, untapped liquidity available on BATS Exchange and thank our members, investors and the industry for their support.
L.D.