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BATS Europe, an innovative and technology-leading European Multilateral Trading Facility (MTF), today revealed its system performance with an average latency of 380 microseconds, one of the fastest response times in the industry.
BATS Europe defines latency as the time taken to accept, place on the order book or execute, and acknowledge a participant order. Latency is measured under load and from outside the BATS firewall.
The analysis showed that 80% of orders sent to BATS Europe are processed in 395 microseconds with 99% of messages processed in 770 microseconds. Test results also revealed processing capabilities at a sustained rate of 100,000 messages per second.
“The analysis results show that our platform delivers the world-class, sustained low latency service established by BATS Exchange in the US,” said BATS Europe Chief Operating Officer Paul O’Donnell. “The measurements were taken from outside our firewall and represent the latency visible at the participant’s connection to BATS Europe during live market hours.
“The BATS Europe system was built for speed and efficiency, and our participants can be confident of fast, predictable response times, even during high market volatility. Our extremely low latency continues to play a significant role in our market share growth,” he said.
BATS Europe achieved a one-day FTSE 100 market share record of 3.87% on Friday, 27 March. The same week BATS Europe set one-day market share records in the CAC40 (3.20%) and DAX (3.22%).
BATS Europe recorded an all-time volume record on Thursday, 2 April, executing €729 million.
Complete BATS Europe system performance statistics are available at: http://www.batstrading.co.uk/resources/participant_resources/BATSEuro_Latency.pdf.
