BATS Exchange, a US trading venue that gained exchange status last November, has added new real-time tools to give its members more control over the sponsored access capabilities they grant to their clients.
The enhancements will give sponsored participants the ability to block or cancel orders, limit or restrict order sizes and manage easy-to-borrow and restricted stock lists.
Sponsoring members still have access to the risk management capabilities available in the previous version of BATS’ sponsored access service, such as the ability to monitor sponsored participant trading activity via BATS’ DROP market data feed.
“BATS Exchange supports efforts to strengthen and harmonise overall risk controls in the industry, including those related to sponsored access,” said Chris Isaacson, chief operating officer of BATS Exchange. “We are pleased to unveil new tools that we believe meet the need for high-quality risk management.”