The Tradetech Daily

BATS Chi-X Europe

BATS Chi-X Europe

The BATS Chi-X Europe dark order books are midpoint dark order books with time priority matching designed to minimise information leakage. They are separate dedicated order books offering the same securities, clearing, markets traded and core trading hours as the Integrated order books.

Functionality and order types

The types of orders supported are midpoint peg
orders and minimum acceptable quantity, which are predominately accessed by
firms seeking price improvement.

Access and participation

BATS Chi-X Europe participants can access our two
dark order books.

Instruments traded

BATS Chi-X Europe offers trading in UK, Austrian,
Belgian, Danish, Dutch, Finnish, French, German, Italian, Irish, Norwegian,
Portuguese, Spanish, Swedish and Swiss markets, exchange-traded funds,
exchange-traded commodities, exchange-traded currencies and depositary

Order protection

In addition to dual market data feeds for price
referencing, risk management available to BATS Chi-X Europe participants are
block new orders and cancel all existing orders, block trade reports, maximum
notional per order per market, maximum number of shares per order, primary
market restriction and restricted stock list, among others.

Future developments

BATS is in the process of introducing sweep orders
between its dark and lit books.