US equities bourse BATS Exchange has unveiled the price schedule for its new options platform, BATS Options, scheduled for launch on 26 February.
BATS Options will rebate liquidity providers $0.20 per contract and charge liquidity takers $0.30 per contract. The new platform will also charge a standard routing fee of $0.05 per contract plus destination exchange fees and a directed intermarket sweep order fee of $0.10 plus destination exchange fees.
According to BATS, almost 50 companies are set up in BATS Options’ certification environment and are working towards being live on the platform from day one. The platform will launch with options on 18 underlying securities, including cash equities and exchange-traded funds.
“BATS led the way in the US equities marketplace with innovative and aggressive pricing and BATS Options will continue this tradition with competitive and straightforward access fees that are the same for all members regardless of their capacity,” said Joe Ratterman, CEO of BATS Global Markets and BATS Exchange.
For US equities trading, BATS Exchange charges $0.0025 a share for removing liquidity and pays a $0.0024 rebate for adding liquidity.
BATS Options is a price-time priority trading platform that offers penny trading in all options regardless of premium or class. It supports eight order types: limit; partial post only at limit; wait; intermarket sweep; discretionary; reserve; post only and cancel & replace.