Feature Spotlights

Pan-European Smart Order Routing

The BATS Europe smart order router features a strategy called CYCLE that cycles through pan-European non-displayed and displayed market centres, aggressively executing at the best price points up to, and including, the limit price on the original order.

BATS Europe Publishes "Listing Market Outages: A Continuity and Price Formation Study"

Analysis finds that alternative trading venues provide good price formation and liquidity, even in the event of listing market outage.

Market on Close

BATS Europe's innovative Market on Close (MOC) offering, which includes Trading at Last (TAL), provides a lower cost alternative for traders seeking executions at the primary exchange's closing price.

BATS Europe System Continues to Offer Sustained Low Latency

Orders now acknowledged or executed in 270 microseconds on average and are visible via Multicast PITCH in 300 microseconds on average.

Real-Time Ports Dashboard

The Real-Time Ports Dashboard allows authorised Participants to view detailed information about their firm's port utilization and to cancel open orders at the port level.

Sponsored Access

Sponsored Access features help Sponsoring Participants manage risk while allowing the Sponsored Participant access to BATS Europe's ever-growing liquidity.

Participant Trade Prevention

Avoid unintentional trading with your own firm. BATS Europe's Participant Trade Prevention (PTP) functionality prevents orders with the same unique identifier from executing against each other.

BATS Europe Dark Pool

Separate, non-displayed midpoint order book with anti-gaming features and low cost trading.

FESE Ticks

Trade Desk Announcement for new tick size regime.

Partial Post Only @ Limit Order

Enhanced liquidity adding with controlled liquidity removal.

Multicast PITCH

Multicast PITCH provides low latency, real-time depth of book and trade information with reduced PITCH events and the choice of Gig-Shaped or WAN-Shaped multicast feeds.

Service Providers

View information about Market Data, Network and Software Providers with established relationships to BATS Europe.

Better Invoices

BATS Europe is making markets better by customising invoices through FIX tags and offering downloads via the Web.

FAST PITCH

BATS is making markets better by offering FAST PITCH, which is a free compressed market data feed with a compression up to 73% of the PITCH data stream.

Pegging & Minimum Quantity

Hidden pegging with midpoint and allowable non-aggressive offsets along with minimum quantity on hidden peg orders and non-routable IOC orders.

BATS Europe's System Performance

BATS Europe is Making Markets Better by providing a matching engine with world-class, sustained low latency service and an average latency of 380 microseconds.