Bats unveils new range of European indices

Exchange operator to launch several regional and sector indices on 19 June.

Bats Europe will launch 18 new benchmark indices as it seeks to make its mark on the highly competitive European index scene.

It said the new benchmarks give it full benchmark index coverage across Europe and will provide a low-cost alternative to existing benchmarks.

The new indices will launch on 19 June and include Bats Eurozone 50, covering the largest 50 companies with a primary listing in euros, and the Bats Eurozone All Companies. Six of the indices will be regional with a further 12 that are sector-focused.

Bats Europe launched its indexing business a year ago and sees it as a key part of its growth strategy.

Mark Hemsely, President of CBOE Europe – which owns Bats Europe – said: “We’ve built a very strong foundation for our indices business since our launch one year ago and have been encouraged by the positive response and support we have from market participants looking for a better solution for their indexing needs.”

The first year has seen Bats lauynch 57 indices across 15 markets, including two Brexit-based indices.

The firm said in addition to its multi-year discounts, licensees will receive further discounts for multiple indices and will not see an annual increase in fees this year.

Guy Simkin, head of business development for Bats Europe, added: “Launching these new regional benchmark indices enables us to provide customers with a single alternative solution to their benchmark needs across all European markets, with indices that are highly correlated with their peers, but systematic in approach and significantly less expensive to use.”