Market operator BATS Global Markets has begun providing monthly reports which compare quality of order execution for all US exchanges on a stock-by-stock basis.
The new reports let buy-side traders see which names are executing near the mid-point and which US trading venues are most likely to offer the tightest effective spreads.
From Friday, the operator of the BATS BZX Exchange and the BYX Exchange has offered the reports free of charge to show the effective spread, or measure of marketable orders executed in relation to the national best bid or offer (NBBO).
The reports will be offered on a market-by-market basis for all stocks listed in the S&P 500 index and BATS 1000 index as well as the top 100 corporate issues and top 100 exchange-traded products. They will be available on a daily or monthly basis,
“These reports are designed to provide investors, brokers, and traders with more information on how securities trade on different exchanges,” said Chris Isaacson, COO of BATS Global Markets.
“We are pleased to provide these objective statistics free of charge to investors and our members to assist them in making informed decisions about where best to execute their trades,” Isaacson said.