BATS Europe, the pan-European multilateral trading facility (MTF) backed by US exchange BATS, is to extend its inverted price promotion for Euronext indices and exchange-traded funds (ETFs) to run throughout July. The promotion was originally intended to expire at the end of June.
In addition, BATS Europe will reduce the cost of removing liquidity from its order book under the promotion to 0.25 basis points from 0.3 bps for July. The rebate for posting liquidity will remain at 0.5 bps. From 1 July, the MTF will add 20 more ETFs on its platform, which will also be included in the new pricing structure.
Since BATS Europe introduced the price promotion on 1 June, its market share in the indices covered has reached record highs. According to its own figures, BATS’ market share reached 7.55% in the French CAC 40 index on 11 June, up from 2.84% on 29 May, 5.37% in the Belgian BEL 20, up from 1.34%, and 4.60% in the Dutch AEX, up from 2.54%.
“We thank our participants for their tremendous response to our inverted pricing in June and are pleased to extend the special into July whilst offering further incentive for participants to trade their CAC 40, AEX, BEL 20 and ETF order flow on our trading platform,” said Mark Hemsley, CEO of BATS Europe, in a statement.
BATS Europe recently recorded one-day notional value and overall market share highs in June of €1.24 billion traded with a 4.02% share of the European market.