BATS Europe, the pan-European multilateral trading facility (MTF) operated by BATS Global Markets, will adjust its pricing for all market participants trading on its integrated order book from next year.
From 4 January, aggressive orders will be charged at 0.28 basis points, down from the current 0.3 bps; posters of passive orders will be awarded a rebate of 0.18 bps instead of 0.2 bps. By comparison, rival MTF Chi-X Europe and Nasdaq OMX Europe both charge 0.3 bps for aggressive orders and rebate 0.2 bps for passive orders.
The new charges will apply to equities, exchange-traded funds and exchange-traded currencies. Pricing for BATS Europe’s dark pool service will remain unchanged at 0.15 bps for passive and aggressive orders.
BATS has launched a raft of pricing promotions for trading on its integrated book since its launch in October 2008, the latest being a reduction in the fee levied for removing liquidity to 0.25 bps from 0.3 bps, which will run until the end of 2009. The MTF traded €23.43 billion in November, giving it a 3% pan European market share, according to data vendor Thomson Reuters.