.jpg)
BATS Options today announced innovative NBBO Setter Rebates for 2011 along with new maker-taker pricing for all members.
Effective January 3, 2011, BATS Options will provide a rebate of $.50 per contract to all members that set the National Best Bid and Offer (NBBO) and get an execution and trade an average of 20,000 contracts per day on the BATS Options platform.
Additionally, BATS is launching a new pricing model that increases the rebates across the board, while lowering the cost of removing liquidity for customers. Market makers or firms executing with each other receive a rebate of $0.35 per contract that adds liquidity and are charged $0.35 per contract for removing liquidity. All members who post liquidity that is removed by a customer capacity order will receive a $0.25 rebate and customer pricing is flat at $0.25 to add or remove liquidity.
“We’re excited to kick off 2011 with an innovative pricing model that rewards those members willing to take risk and drive the NBBO,” said Jeromee Johnson, vice president and head of BATS Options. “BATS has always been a forward-looking leader in equities pricing and these changes reflect our desire to continue to look for new and different ways to move the options marketplace forward.”
The new BATS Options pricing model also includes new routing pricing, which is based on execution venue and capacity, regardless of routing strategy, and applies to BATS’ CYCLE, Parallel and BATS+ order types.
The 2011 BATS Options fee schedule is available at:http://www.batstrading.com/resources/regulation/rule_book/BZX_Proposed_Fee_Schedule.pdf
