BATS Exchange, the US exchange subsidiary of financial markets technology company BATS Global Markets, is to extend its trading hours in response to member demand.
From Tuesday 26 May, market participants will be able to submit orders to the exchange until 17:00, an hour after current market close at 16:00.
The firm has also announced that it will make “significant” technology upgrades to its platform. The current capacity of BATS Exchange’s matching engine is 200,000 messages per second and round-trip latency is 400 microseconds.
“An extended trading session is a natural next step in expanding our service,” said Chris Isaacson, chief operating officer of BATS Exchange, in a statement. “We are also making significant technology upgrades to the BATS platform, which is already one of the world’s most efficient and reliable, and we look forward to announcing enhancements in the coming weeks and months.”
BATS Exchange made the transition from electronic communications network (ECN) to exchange status in November last year.