Fee Schedule

BATS Chi-X Europe: Updated Fee Schedules for 2013

November 21, 2012 08:11:52

Dear BATS Chi-X Europe Participants,

BATS Chi-X Europe would like to inform Participants of upcoming changes to its fee schedules, summarised below.

Trading Tariffs - Effective 1st January 2013
Following a review of its charging structure, BATS Chi-X Europe is differentiating the fees charged on its Lit BATS (BXE) and Chi-X (CXE) order books. The Lit BXE order book will be priced at 0.15 bps for liquidity removal with a zero fee for adding liquidity, offering Trading Participants the lowest remove rate in Europe whilst not being charged for liquidity provision. The Lit CXE order book will continue to be priced at 0.30 bps for liquidity removal with a rebate of 0.15 bps for adding liquidity.

Routing Fees - Effective 1st January 2013
BATS Chi-X Europe has made a number of amendments to the routing charge for external venues, details can be found in the trading tariff link below.

Connectivity Fees - Effective 1st January 2013
BATS Chi-X Europe will remove the current inactive port fee and introduce a monthly fee of £200 per redundant set of FIX and BOE (Binary Order Entry) ports. The fee will be capped at £4000 per month for FIX ports and £4000 per month for BOE ports.
All Participants will receive one free redundant set of ports to connect to all the BATS Chi-X Europe order books.

Connectivity Fees - Effective 1st July 2013
BATS Chi-X Europe Participants will receive one free redundant set of GRP and SPIN ports per physical connection. Beyond this Participants will be charged a £400 monthly fee for each redundant GRP and SPIN port set.
The first redundant set of GRP & SPIN for extranet customers is also free of charge.

Documentation:
Trading Tariffs and Routing Fees: http://cdn.batstrading.com/resources/participant_resources/BATSEuro_Pricing_Effective.pdf
Connectivity Fees: http://cdn.batstrading.com/resources/participant_resources/BATSEuro_ConnPricing_Effective.pdf

Please contact the Trade Desk or your Account Manager if you have any questions.

All current and historical BATS Chi-X Europe notices, including symbol universe updates, are available online at www.batstrading.co.uk/alerts.

Trade Desk
BATS Chi-X Europe ... Making Markets Better
P: +44.207.012.8901
E: [email protected]
www.batstrading.co.uk
* BATS Trading Limited is authorised and regulated by the Financial Services Authority
BATS Trading Limited is authorised and regulated by the Financial Services Authority. BATS Trading Limited is an indirect wholly-owned subsidiary of BATS Global Markets, Inc. and is a company registered in England and Wales with Company Number 6547680 and registered office at 10 Lower Thames Street, London EC3R 6AF. Confidentiality Notice: This email, including attachments, may include non-public, proprietary, confidential or legally privileged information. If you are not an intended recipient or an authorized agent of an intended recipient, you are hereby notified that any dissemination, distribution or copying of the information contained in or transmitted with this e-mail is unauthorized and strictly prohibited. If you have received this email in error, please notify the sender by replying to this message and permanently delete this e-mail, its attachments, and any copies of it immediately - you should not retain, copy or use this e-mail or any attachment for any purpose, nor disclose all or any part of the contents to any other person. Thank you.

REMINDER : Market Data Usage Declarations Deadline 24th October

October 22, 2012 16:07:39

Dear BATS Chi-X Europe Participants,

BATS Chi-X Europe would like to remind Participants that the window for declaring market data usage is open and due for completion by Wednesday 24th October, 2012. Reportable use of data is detailed in the Market Data Policy available at the following link http://www.batstrading.co.uk/market_data/products/.

Market Data declarations must be made electronically through the BATS Chi-X Europe Market Data declarations GUI at the following link https://www.batstrading.co.uk/account/. Individuals must be setup with a user login which can be obtained by request from the BATS Chi-X Europe Trade Desk.

Any questions regarding the declaration process or this notice can be directed to the Market Data team, or to your BATS Chi-X Europe Account Manager. All available market data documentation is available from http://www.batstrading.co.uk/subscribe/.

All current and historical BATS Chi-X Europe notices, including universe updates, are available online at www.batstrading.co.uk/alerts.

Updated Market Data Policy and Market Data Price List

September 28, 2012 16:22:45

Dear BATS Chi-X Europe Participants,

A new Market Data Policy and accompanying Market Data Price List have been uploaded to the BATS Chi-X Europe website. The changes are focused exclusively on providing more flexible lower cost Distribution License options to Data Recipients. The effective date of these changes is Monday 1st October. No other changes have been made to the Market Data Policy or Market Data Price List.

All market data documentation is available at the link below:

http://www.batstrading.co.uk/market_data/products/

Any questions regarding this notice can be directed to the Market Data Team, or to your BATS Chi-X Europe Account Manager.

All current and historical BATS Chi-X Europe notices, including universe updates, are available online at www.batstrading.co.uk/alerts.

BATS Chi-X Europe ends Spanish pricing promotion, announces new pricing

September 19, 2012 13:09:37

Dear BATS Chi-X Europe Participants,

Please note that from 30th September 2012 the current pricing promotion in the Spanish market on the CXE (Chi-X) order book will come to an end, including all post-trade rebates.

As of Monday 1st October 2012, BATS Chi-X Europe will apply the following tariff to the CXE Spanish market segment.

Order Book - CXE Integrated (Lit) Order Book - Displayed Orders
Passive Executions - 0.25 bps add rebate
Aggressive Executions - 0.35 bps charge

Please note that the tariffs for the BXE order book will remain unchanged. For a full list of current BATS Chi-X Europe trading tariffs please review the following link: http://cdn.batstrading.com/resources/participant_resources/BATSEuro_Pricing.pdf

Please contact the Trade Desk or your Account Manager if you have any questions.

All current and historical BATS Chi-X Europe notices, including universe updates, are available online at www.batstrading.co.uk/alerts.

Trade Desk
BATS Chi-X Europe ... Making Markets Better
P: +44.207.012.8901
E: [email protected]
www.batstrading.co.uk

BATS Chi-X Europe: Introduction of Market Data Fees Oct 1st 2012 - Update regarding Direct billing model

July 17, 2012 15:28:41

Dear BATS Chi-X Europe Participants,

As part of the rollout of new fees for BATS Chi-X Europe market data (Data) in October 2012, please be advised that participants must confirm to BATS Chi-X Europe whether they will be opting into the "Direct Model" for Display use of Data. The deadline for doing so is 3rd August 2012. The Direct Model is described in more detail in the Market Data Policy (effective 1st October 2012). In summary, the Direct Model permits participants to contract with and be invoiced directly by BATS Chi-X Europe, as well as taking advantage of tiered end user pricing for Display use of the Data.

The purpose of this request and the date for final submission is to gather the required information (pursuant to the provisions in the Market Data Policy (effective 1st October 2012)) with sufficient notice to enable BATS Chi-X Europe to liaise with third party data vendors to ensure Display fees are not duplicated unnecessarily.

Attached to this email is a declaration that participants should return to confirm their preference for the Direct Model and to indicate which data vendors they utilise.

Completed documents should be returned to [email protected] no later than 3rd August 2012.

All market data documentation is available at the link below:

http://www.batstrading.co.uk/market_data/products/

Any questions regarding this notice can be directed to the Market Data team, or to your BATS Chi-X Europe Account Manager.

BATS Chi-X Europe extends Spanish price promotion

June 11, 2012 08:13:58

Dear BATS Chi-X Europe Participants,

BATS Chi-X Europe is pleased to announce a further extension to its pricing promotion in the Spanish market segment on the Chi-X (CXE) order book(s). The existing pricing promotion, which runs until the end of June 2012 will now be extended until the end of September 2012. The promotion (detailed below) will continue to cover trading, clearing and settlement costs:

Trading fees:

The rebate paid to trading participants on passive executions will remain at 0.30 basis points, (raised from 0.20 basis points pre-promotion) for executions in all IBEX35 securities.

Post-trade costs:

Clearing
Participants trading in excess of a,!200 million per calendar month in the six Qualifying Securities* will have their gross CCP clearing fees refunded on any trades in excess of a,!200 million in these six securities.

Settlement
Participants trading in excess of a,!200 million per calendar month in the six Qualifying Securities* will also have their settlement fees refunded on any settlements in these six securities, up to a maximum of two settlements per Qualifying Security, per day.

The above post-trade costs will be calculated by European Multilateral Clearing Facility (EMCF) and advised to BATS Chi-X Europe, who will refund directly to the trading participant.

*The post-trade pricing promotion applies to the following six securities only in the Spanish market segment (the Qualifying Securities) for clearing and settlement costs.

Name, UMTF Code, ISIN, Currency
Banco Santander, SANe, ES0113900J37, EUR
BBVA, BBVAe, ES0113211835, EUR
Iberdrola, IBEe, ES0144580Y14, EUR
Inditex, ITXe, ES0148396015, EUR
Repsol, REPe, ES0173516115, EUR
Telefonica, TEFe, ES0178430E18, EUR

Pricing of trades in Spanish securities on the BATS (BXE) order books remains unchanged. A full list of tariffs can be viewed at http://www.batstrading.co.uk/resources/participant_resources/BATSEuro_Pricing.pdf

Please contact the Trade Desk or your Account Manager if you have any questions.

All current and historical BATS Chi-X Europe notices, including universe updates, are available online at www.batstrading.co.uk/alerts

Trade Desk
BATS Chi-X Europe ... Making Markets Better
P: +44.207.012.8901
E: [email protected]
www.batstrading.co.uk
* BATS Trading Limited is authorised and regulated by the Financial Services Authority.

BATS Chi-X Europe unveils competitive market data pricing

May 29, 2012 08:15:50

Dear BATS Chi-X Europe Customers

BATS Chi-X Europe would like to inform customers of a competitive new pricing model associated with market data usage, which will come into effect on the 1st of October 2012.

Market data fees in Europe remain high due to the lack of competitive pricing by incumbent exchanges. With the introduction of its new pricing initiative, BATS Chi-X Europe is setting a reference point to focus industry debate on what constitutes "commercially reasonable terms" for market data tariffs.

Highlights of the pricing model include:

* Flat, Pan European fee for non-display usage with no unit of count. Lower priced option available based on regional use.

* Display based fees. "Direct Model" - direct billing, multi-vendor netting and capped expenditure on end users offered.

* Users in compliance, software development, IT support and disaster recovery sites exempt from display fees.

* No display fees for retail end users.
The BATS Chi-X Europe Market Data Price List and Policy documents are available at the links below and attached:

* http://www.batstrading.co.uk/resources/participant_resources/BATS-Chi-X-Europe-Market-Data-Price-List.pdf

* http://www.batstrading.co.uk/resources/participant_resources/BATS-Chi-X-Europe-Market-Data-Policy.pdf
Please also find attached formal notice required to give effect to the new fees, in accordance with the terms of Data Recipient Agreement.

For more information regarding this, please view the press release here http://www.batstrading.co.uk/news/

Please contact your Account Manager or [email protected] if you have any questions. All current and historical notices are available online at www.batstrading.co.uk/alerts.

Thank you for trading on BATS Chi-X Europe.

Trade Desk
BATS Chi-X Europe ... Making Markets Better
P: +44.207.012.8901
E: [email protected]
www.batstrading.co.uk
* BATS Trading Limited is authorised and regulated by the Financial Services Authority.

BATS Chi-X Integration: Pricing, Order Routing, Billing

April 20, 2012 08:09:14

Dear BATS Chi-X Customers,

BATS Chi-X Europe is pleased to confirm order book and routing pricing, order routing facilities, and billing information, which will take effect on 30th April 2012 in conjunction with the technology migration of Chi-X Europe to the BATS technology platform.

Pricing
All pricing for order book and onward routing executions will remain unchanged after the technology migration. The current Spanish market pricing promotion on Chi-X Europe will continue on the CXE order book of BATS Chi-X Europe until 30th June 2012.

The consolidated pricing schedule is available for download at the following link http://batstrading.co.uk/resources/participant_resources/BATSEuro_Pricing.pdf

Order Routing
All order routing facilities available on Chi-X Europe (CXE) and BATS Europe (BXE) will continue after the technology migration. In addition, lit venue order routing with the Parallel D and 2D strategies, which are currently available to BXE participants only, will also be available for customers connecting to CXE FIX or BOE order entry ports. Participants that wish to utilise onward routing facilities but have not already completed a BATS Trading Limited order routing addendum will need to ensure an order routing addendum is in place. The order routing addendum is available for download from the following link: http://www.batstrading.co.uk/resources/participant_resources/BATS_CXE-Client_Order_Routing_Addendum.pdf

Billing
For existing participants of BXE, billing options and the billing process remain unchanged. For existing participants of CXE please note that the billing options and billing process will align with BXE from 30th April 2012. Guidance on billing options is available for download at the following link: http://www.batstrading.co.uk/resources/participant_resources/BATSEuro_Billing.pdf

Please contact your Account Manager or the Trade Desk at BATS Chi-X Europe if you have any questions. All current and historical notices are available online at www.batstrading.co.uk/alerts.

Thank you for trading on BATS Chi-X Europe.

Trade Desk
BATS Chi-X Europe ... Making Markets Better
P: +44.207.012.8901
E: [email protected]
www.batstrading.co.uk

BATS Chi-X Europe Integration Update: Technical Specifications and Connectivity Pricing Now Available

January 13, 2012 15:17:51

Dear Participants,

This is part of a series of communications highlighting key integration dates and materials surrounding the upcoming platform migration of the Chi-X Europe order books onto BATS Europe technology. The purpose of this communication is to provide details on the updated Technical Specifications, Testing Guide and Connectivity Guide for the migration.

The revised Connectivity Pricing is also linked below. It includes separate pricing for Trading Participants and Non-Trading Participants and will be effective 1st May 2012 unless otherwise stated.

Connectivity Information, Technical Specifications & Testing Guides

Technical Integration webpage: www.batstrading.co.uk/integration/technical/

* Connectivity

o Migration Guide: www.batstrading.co.uk/resources/participant_resources/BATS_Connectivity_Manual_Integration_Supplement.pdf

o Connectivity Pricing: www.batstrading.co.uk/resources/participant_resources/BATSEuro_ConnPricing.pdf

* Technical Specifications

o Market Data Migration Guide: www.batstrading.co.uk/resources/participant_resources/BATS_Europe_ChiX_Market_Data_Migration_Guide.pdf

o Chi-X Europe FIX Compatibility mode Guide: www.batstrading.co.uk/resources/participant_resources/BATS_Europe_ChiX_FIX_Compatibility_Mode_Guide.pdf

o Testing Guide: www.batstrading.co.uk/resources/participant_resources/TestingGuide.pdf

* Technical Contacts for the migration

Connectivity: [email protected]+44.207.012.8905
Application or Trading Queries: [email protected] +44.207.012.8901

Please continue to contact the Chi-X Europe Operations team with any technical questions regarding daily service and support on the existing Chi-X Europe trading platform.

The latest migration information and documents are available at www.batstrading.co.uk/integration, which will be updated regularly throughout the transition.

Please contact the BATS Europe Trade Desk or your Account Manager if you have any questions.