New Feature
BYX Frequently Asked Questions
BYX, a new US equities book from BATS Exchange, will launch in early 2010 and utilize the proven world-class BATS technology.
Routing
Strategic Smart Order Router
Sequential and aggressive routing strategies: CYCLE and RECYCLE.
DART
Dark Anonymous Routing Technique offering possible price improvement and lower access fees.
Dark Scan
Scan against dark liquidity pools with transparent DLPs and rebate for dark venue matches.
Order Types
Order and Routing Definitions
Order types and routing instructions for the BATS Exchange platform.
Partial Post Only @ Limit
Liquidity removal with price improvement and maximum remove percentage option.
System Features
Real-Time Ports Dashboard
Innovative, detailed Web tool with port level settings and statistics.
Latency
Orders now acknowledged or executed in less than 250 microseconds on average.
Sponsored Access
Provides more market participants the opportunity to trade on BATS Exchange.
Match Trade Prevention
Avoid unintentional trading with your own firm.
Dark & Hidden Liquidity
Innovative access to dark and hidden liquidity.
Market Data
Market Data Sources
Data feeds ranging from top of book to Multicast PITCH to meet diverse needs.
TOP
Provides fewer events and an a reduction in bandwidth compared to PITCH.
TCP FAST PITCH
Compressed market data feed with a compression up to 73% of the PITCH data stream.
Billing Features
Rapid Rebate
Qualified Members can receive weekly net liquidity rebates.