BATS' latest enhancement to its smart order router. This routing strategy routes to dark pools offering possible price improvement and lower access fees.
Built by traders and for traders, the BATS system has a median latency of just 400 microseconds.
BATS' Dark Scan offers subscribers the opportunity for price improvement and reduced access fees.
CYCLE sequentially cycles market centers to attain the best price points up to, and including, the limit price on the original order.
| Securities |
Adding
Liquidity |
Removing
Liquidity |
Routing
Out+ |
Directed
ISO's |
| Tape A (NYSE Listed) |
$.0024 |
$.0025 |
.0029* |
$.0035 |
| Tape B (Regionals) |
$.0030 |
$.0025 |
.0029 |
$.0035 |
| Tape C (Nasdaq Listed) |
$.0024 |
$.0025 |
.0029** |
$.0035 |
| Securities under $1 |
FREE |
FREE |
.0029%*** |
$.0035 |
01/12/09 Real-time, depth-of-book market data feed is free and provides up to 50% bandwidth reduction.
01/09/09 BATS set new record internal match rate in December of 89.72%.
12/12/08 BATS' latest enhancement provides potential price improvement and lower access fees when routing to dark liquidity providers.
11/28/08 Global CEO Joe Ratterman comments on business continuity project completion and results.
11/06/08 Kansas City-based exchange looks to further boost market share.
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