US-based market centre operator BATS Global Markets has announced its first major pricing change for trading on its BZX equities exchange since September 2007.
From 1 November, BZX, which converted from an electronic communications network to an exchange in October 2008, will offer members a rebate of US$0.0027 per share for adding displayed liquidity to its order book and charge $0.0028 per share for removing liquidity.
BZX currently rebates participants $0.0024 per share for adding liquidity and charges $0.0025 per share for removing liquidity.
All other BZX pricing, including charges for using its smart order router, will remain the same.
“We believe now is the right time to increase pricing competition in the US equities market having completed a successful rollout of the BATS BYX Exchange, our second equities exchange, which allows for more flexibility in pricing the BZX Exchange,” said Chris Isaacson, chief operating officer of the BATS Exchanges. “The new and differentiated BZX Exchange and BYX Exchange pricing models allow us to better serve our broad and diverse US customers.”
BATS launched BYX on 15 October, which offers a $0.0003 rebate per share for removing liquidity and no charge for posting displayed liquidity to the BYX book.