Industry works with Bats to launch UK benchmark index series

Alliance Trust Savings, TD Direct Investing, Hargreaves Lansdown and more worked closely with Bats Europe to launch the new index series.

European exchange operator Bats Europe, with the help of leading industry firms, is set to launch a ‘UK-focused’ benchmark index series.

The series will include 18 different indices covering large to small cap securities across 12 industry sectors.

Bats Europe explained several leading wealth management and stockbroking firms, including Alliance Trust Savings, TD Direct Investing and Hargreaves Lansdown, contributed to the development of the indices.

Head of business development at Bats Europe, Guy Simpkin, explained: “We have worked closely with firms to develop Bats Indices rules, licences and pricing to ensure we deliver long-term benefits to customers of every sort across an increasing number of markets”.

The indices will be published in real-time with comparable benchmarks to reflect market movements and will have a ‘simplified index license agreement’.

Chief executive officer at Bats Europe Mark Hemsley explained the launch will provide investors with “an accurate, immediate view of precisely where the market is moving.”

Hemlsey added: “Throughout our history, we’ve sought to make markets better, and more cost-efficient, for investors and traders.

“This is a first and very important step in improving index provision in Europe.”

Head of platform proposition at Alliance Trust Savings Sara Wilson, explained the launch is “positive news for the industry”, as it provides real-time information from a respected source.

Wilson said: “Having been closely involved with the project since inception, we look forward to making this additional data available to our customers.”