BATS Europe Plans Low-Priced Market On Close For Liquid Stocks - Fast-Growing MTF To Offer Aggressively-Priced Market On Close Service, Including Trading At Last - Effective August 2009

BATS Europe, an innovative, wholly-owned subsidiary of BATS Global Markets, announced plans to offer a Market On Close and Trading At Last service beginning August 2009.

The new service will be available to BATS Europe participants at a significantly lower rate than that which the primary exchanges charge for comparable services. “As our market share continues to increase, we are pleased to offer a market on close service in response to participant demand which will be priced at an attractive rate when compared to the primary markets,” said BATS Europe CEO Mark Hemsley.

“The addition of crossing functionality to our suite of services will create the opportunity for more efficiency in the market by allowing participants to execute large blocks without the fear of the price moving against them,” he said.

The new service enables BATS Europe participants to enter orders throughout the trading day that are not executed until the official closing price of the primary exchange is published. Following the publication of the primary exchange’s closing price, participants can continue entering orders that are immediately executed at the official closing price where liquidity is available.

Initially, the new service will be rolled out in phases across the indices most heavily traded on BATS Europe -- the FTSE 100, CAC 40 and DAX. In June, BATS set one-day market share records in the CAC 40 with 7.55%, FTSE 100 with 6.19%, DAX with 5.65%, AEX with 5.37% and BEL20 with 4.60%.

BATS Europe is currently reviewing the provision of this service with the Financial Services Authority The new order types are in development and will be available for testing in July.