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BATS Global Markets, an innovative global financial markets technology company, today announced the launch of the BATS Y-Exchange (BYX) for trading US equities.
BYX is the second US equities exchange launched by BATS Global Markets, following BATS Exchange (BZX), which went live in August 2008 after converting from an electronic communications network. In addition to BATS Exchange, the third-largest stock market in the US, the company operates BATS Europe and BATS Options.
“With BYX, we are offering market participants a second BATS platform for trading US equities built on our world-class technology with differentiated pricing and routing,” said Joe Ratterman, CEO of BATS Global Markets and BATS Exchange. “Industry feedback has exceeded our expectations with more than 100 firms approved as BYX members and over 50 already certified to begin trading.”
BATS launches BYX with ultra-aggressive pricing that offers liquidity removers a $0.0003 per share rebate, the highest liquidity removal rebate among US exchanges for all securities. There is no charge to add displayed liquidity to the BYX book.
Symbols available for trading on BYX Friday are Apple Inc. (AAPL), Advanced Micro Devices Inc. (AMD), Diamonds Trust (DIA) and Viacom Inc. Class B Stock (VIA.B). BYX will be active in all US symbols as of Friday, October 22nd.
The complete rollout schedule and additional details are available at http://www.batstrading.com/byx/.
BYX is located at Savvis’ data center complex in New Jersey, which also houses BATS Exchange and BATS Options. Members can access BYX via existing connectivity to BATS Exchange.
