BATS Exchange Offers Rebate for Removing Liquidity via Dark Scan

BATS Exchange is expanding its price cuts with a $.0001 cent per share (or 1 cent per 100 shares) rebate for removing liquidity in all securities that utilize its Dark Scan strategy. The new pricing takes effect today, May 1st.

UnderDark ScanBATS routes to several dark pools (GETCO Execution Services, Knight Link, Liquidnet H20 and ATD’s Liquidity Ping) before going to the BATS order book and then out to the displayed markets via our smart router to match the remaining shares.

BATS Exchange also cut its default routing rate to $.0025, which it claims is the lowest rate among major market centers. “With many other markets charging higher remove fees, often at $.0029 and $.0030 per share, BATS’ high performance routing technology, combined with the ultra-low $.0025 routing fee, proves to be a powerful combination for BATS customers,” stated the company’s release.

“BATS Exchange remains focused on offering a simple but aggressive fee structure so more market participants can enjoy the economic and performance benefits of our world-class matching engine and smart order router,” stated BATS Exchange CE0 Joe Ratterman in the release.

BATS is also simplifying its fee schedule for Tape A, B and C securities with a tightened 1-mil spread, offering a rebate of $.0024 for adding liquidity and a charge of $.0025 for liquidity removal.

BATS is also keeping its ”one-under” routing plan which charges reduced rats for customers that use its BATS + Nasdaq, BATS + NYSE ARca and BATS_NYSE Floor order types at $.0029, $.0027 and $.0017 respectively. For the complete fee schedule click here.

Ivy is Editor-at-Large for Advanced Trading and Wall Street & Technology. Ivy is responsible for writing in-depth feature articles, daily blogs and news articles with a focus on automated trading in the capital markets. As an industry expert, Ivy has reported on a myriad ... View Full Bio