Release Notes

BATS Chi-X Europe Trading Holiday Calendar 2015

December 15, 2014 09:55:58

Dear BATS Chi-X Europe Participants

Please be advised that the BATS Trading Platforms Holiday Schedule for 2015 is now available here: http://www.batstrading.co.uk/support/hours/.
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 a Recognised Investment Exchange regulated by the Financial Conduct Authority.

UPDATE: BATS Chi-X Europe to introduce auctions - effective Friday 30th January, 2015

December 04, 2014 15:00:12

Dear BATS Chi-X Europe Participants,

Subject to regulatory approval, BATS Chi-X Europe (BATS) will launch opening and closing auctions for BATS Regulated Market listed ETF (REGM segment) securities only, effective Friday 30th January 2015.

** New guidance documentation is available to aid participants in their readiness for the upcoming auctions release, see attached.
** Based on participant feedback, auction market order identification on market data has changed since the initial Trade Desk Notice, details below *.

Auctions Guidance Note: http://cdn.batstrading.com/resources/participant_resources/BCE-GuidanceNote_Auctions_Final.pdf

For readiness, Participants should note:

* Trading

o The opening auction starts at 07:50 and lasts for 10 minutes with the addition of a random end period. The closing auction begins at 16:30 and lasts for 5 minutes with the addition of a random end period

o Auctions may be subject to market order imbalances and price monitoring extensions

o New TimeInForce values AtTheOpen and AtTheClose will be accepted. Auction orders (MOO, MOC, LOO and LOC) will be possible when these new TIF values are combined with the OrderType tag

o AtTheClose orders (MOC and LOC) can be entered during continuous trading and will not execute until the closing auction

o Regular limit and market orders entered during an auction phase will be automatically converted into auction orders

o Orders will not roll over between auction and continuous trading phases

o IOC TimeInForce and Hidden order types are not supported during auctions

o Participant Trade Prevention (PTP) will be ignored during auctions

o The CLP programme is unaffected

o Clearing and Settlement is unaffected

o Auction executions will be subject to a specific tariff that will be independent of the continuous markets tariff, details to follow in a separate Trade Desk Notice

* Market Data

o Order books may appear crossed during an auction phase

o During an auction, market orders will be visible and represented with a zero price *

o The Volatility Limit and Auction Trading Statuses are only possible on Listed securities (REGM segment)

o Listed securities are located on Matching Unit 10 of the CXE Lit and Dark order books only

o Auction PITCH message types (Summary, Status and Update) currently in Certification remain unchanged

* Reference Data

o All Regulated Market listed securities are identifiable in BATS Chi-X Europe symbol reference data files by a value of REGM in the trading_segment column

* Further Info

o ETF Listings Homepage - http://www.batstrading.co.uk/etfs/

o FAQ - http://www.batstrading.co.uk/etfs/faq/

o Listings Service Description - http://cdn.batstrading.com/resources/participant_resources/BATSEuro_ListingServiceDescription.pdf

o User Guide - http://www.batstrading.co.uk/etfs/user_guide/

o Reference Data Guide - http://cdn.batstrading.com/resources/participant_resources/BATS_Europe_Reference_Data.pdf

o Rule Book and Participant Manual documentation will be updated in due course - http://www.batstrading.co.uk/regulation/library/

o Updated FIX and BOE technical specifications http://batstrading.co.uk/support/#menu-tech-specs

Testing

All aforementioned changes are currently available in the CXE Certification (UAT) environment.

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

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 a Recognised Investment Exchange regulated by the Financial Conduct Authority.

BATS Chi-X Europe - Christmas & New Year Hours - UPDATE

December 04, 2014 14:55:30

Dear BATS Chi-X Europe Participants
In addition to the below Christmas and New Year hours, please be advised that the German market segment will close early on Tuesday 30th December, 2014:

* Orderbook Trading to close at 13:00 GMT

* Exchange Trade Report (ETR) service to close at 14:00 GMT

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 a Recognised Investment Exchange regulated by the Financial Conduct Authority.

From: Trade Desk EU [mailto:[email protected]]
Sent: 02 December 2014 15:09
To: Trade Desk EU
Subject: BATS Chi-X Europe - Christmas & New Year Hours

BATS Chi-X Europe - Christmas & New Year Hours (*all times GMT)

Orderbook Trading Overview:
Wednesday 24th December & Wednesday 31st December

* Early Close London & Dublin market segments to close at 12:30

Amsterdam, Brussels, Lisbon, Paris & Madrid to close at 12:55

Thursday 25th December, Friday 26th December & Thursday 1st January

* Full Close All Markets

Exchange Trade Report (ETR) service Overview:
Wednesday 24th December & Wednesday 31st December

* Early Close London, Dublin, Amsterdam, Brussels, Lisbon, Paris & Madrid to close for ETR submission at 13:55

Thursday 25th December, Friday 26th December & Thursday 1st January

* Full Close All Markets

Trade Reporting Facility (TDM, SI and MTF Trade Reporting) Overview:
Wednesday 24th December & Wednesday 31st December

* Early Close All markets close at 13:40

Thursday 25th December, Friday 26th December & Thursday 1st January

* Full Close All Markets

For further detail, please refer to the Holiday Schedule available here: http://www.batstrading.co.uk/support/hours/.

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 a Recognised Investment Exchange regulated by the Financial Conduct Authority.

BATS Chi-X Europe - Christmas & New Year Hours

December 02, 2014 15:09:02

BATS Chi-X Europe - Christmas & New Year Hours (*all times GMT)

Orderbook Trading Overview:
Wednesday 24th December & Wednesday 31st December

* Early Close London & Dublin market segments to close at 12:30

Amsterdam, Brussels, Lisbon, Paris & Madrid to close at 12:55

Thursday 25th December, Friday 26th December & Thursday 1st January

* Full Close All Markets

Exchange Trade Report (ETR) service Overview:
Wednesday 24th December & Wednesday 31st December

* Early Close London, Dublin, Amsterdam, Brussels, Lisbon, Paris & Madrid to close for ETR submission at 13:55

Thursday 25th December, Friday 26th December & Thursday 1st January

* Full Close All Markets

Trade Reporting Facility (TDM, SI and MTF Trade Reporting) Overview:
Wednesday 24th December & Wednesday 31st December

* Early Close All markets close at 13:40

Thursday 25th December, Friday 26th December & Thursday 1st January

* Full Close All Markets

For further detail, please refer to the Holiday Schedule available here: http://www.batstrading.co.uk/support/hours/.

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.

BATS Chi-X Europe to introduce Auctions - effective Friday 30th January, 2015

November 25, 2014 09:02:22

Dear BATS Chi-X Europe Participants,

Subject to regulatory approval, BATS Chi-X Europe (BATS) will launch opening and closing auctions for BATS Regulated Market listed ETF (REGM segment) securities only, effective Friday 30th January 2015.

For readiness, Participants should note:

* Trading

o The opening auction starts at 07:50 and lasts for 10 minutes with the addition of a random end period. The closing auction begins at 16:30 and lasts for 5 minutes with the addition of a random end period

o Auctions may be subject to market order imbalances and price monitoring extensions

o New TimeInForce values AtTheOpen and AtTheClose will be accepted. Auction orders (MOO, MOC, LOO and LOC) will be possible when these new TIF values are combined with the OrderType tag

o AtTheClose orders (MOC and LOC) can be entered during continuous trading and will not execute until the closing auction

o Regular limit and market orders entered during an auction phase will be automatically converted into auction orders

o Orders will not roll over between auction and continuous trading phases

o IOC TimeInForce and Hidden order types are not supported during auctions

o Participant Trade Prevention (PTP) will be ignored during auctions

o The CLP programme is unaffected

o Clearing and Settlement is unaffected

o Auction executions will be subject to a specific tariff that will be independent of the continuous markets tariff, details to follow in a separate Trade Desk Notice

* Market Data

o Order books may appear crossed during an auction phase

o During an auction, market orders will be visible and represented by orders with min (sell) / max (buy) prices on the feed

o The Volatility Limit and Auction Trading Statuses are only possible on Listed securities (REGM segment)

o Listed securities are located on Matching Unit 10 of the CXE Lit and Dark order books only

o Auction PITCH message types (Summary, Status and Update) currently in Certification remain unchanged

* Reference Data

o All Regulated Market listed securities are identifiable in BATS Chi-X Europe symbol reference data files by a value of REGM in the trading_segment column

* Further Info

o ETF Listings Homepage - http://www.batstrading.co.uk/etfs/

o FAQ - http://www.batstrading.co.uk/etfs/faq/

o Listings Service Description - http://cdn.batstrading.com/resources/participant_resources/BATSEuro_ListingServiceDescription.pdf

o User Guide - http://www.batstrading.co.uk/etfs/user_guide/

o Reference Data Guide - http://cdn.batstrading.com/resources/participant_resources/BATS_Europe_Reference_Data.pdf

o Rule Book and Participant Manual documentation will be updated in due course - http://www.batstrading.co.uk/regulation/library/

o Updated FIX and BOE technical specifications http://batstrading.co.uk/support/#menu-tech-specs

Testing

All aforementioned changes are currently available in the CXE Certification (UAT) environment.

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

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 a Recognised Investment Exchange regulated by the Financial Conduct Authority.

BATS Chi-X Europe: Trading and Connectivity Pricing effective 1st January 2015

November 24, 2014 08:33:14

Dear BATS Chi-X Europe customers

The purpose of this notice is to inform customers of changes to the Trading and Connectivity price lists effective Thursday 1st January 2015.

Trading Price List

Following the successful launch of tiered pricing in April 2014, BATS is pleased to introduce a new tiered pricing model for adders and removers of liquidity in all order book securities traded during continuous trading on the CXE Lit Order Book, effective Thursday 1st January 2015. This competitive new pricing model will replace all the existing tiered and subscription pricing on the CXE Lit Order Book including those for UK & Irish, French, Dutch, Belgian and Portuguese securities as well as the stand alone pricing for Spanish securities. All other order book pricing (CXE Dark and all BXE) remains unchanged.

A Participant's total notional value traded across all BXE and CXE Dark and Lit Order Books during continuous trading will be combined to determine the entry point into the new tiers. When calculating the rebate or charge, a Participant's notional value traded in the BXE Dark and Lit Order Books and the CXE Dark Order Book will be considered first. When the Participant's notional value traded reaches one or more tiers, their notional value traded in continuous trading in the CXE Lit Order Book will be rebated or charged at the corresponding tier rate. All other trades will continue to be charged or rebated at the prevailing tariff rates for those books. All notional value traded will be converted into Euros for the purpose of tier calculations. End of month invoices and credit notes will be issued in the Participant's preferred currency.

All Interbook Sweep orders will be subject to the standard trading remove fee of the order book on which the order is executed. Auction executions, once implemented (and subject to regulatory approval), will be subject to a specific tariff that will be independent of the continuous markets tariff and will be confirmed by separate announcement.

Tier monitoring

* The fee value contained in the FIX and BOE execution messages will continue to be calculated on the basis of the lowest rebate tier and standard remove charge. The FIX and BOE specifications are available to download at http://www.batstrading.co.uk/support/

* Trade Liquidity Indicator 9730 will detail whether the trade added or removed liquidity allowing Participant's to calculate their status against the respective tiers in real-time

* BATS will additionally supply a daily "month to date" tiered status report via email

The revised 2015 BATS Chi-X Europe Trading Price List is attached and available to download at http://cdn.batstrading.com/resources/participant_resources/BATSEuro_Pricing_Effective.pdf

Connectivity Price List

Following a series of operating cost changes BATS will be making some amendments to the monthly fees applied for connectivity services. The revised 2015 BATS Chi-X Europe Connectivity Price List is attached and available to download at http://cdn.batstrading.com/resources/participant_resources/BATSEuro_ConnPricing_Effective.pdf

If you have any questions, please contact your Account Manager for further information. All current and historical notices are available online at www.batstrading.co.uk/alerts

Thank you for your continued support.

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 a Recognised Investment Exchange regulated by the Financial Conduct Authority.

BATS Chi-X Europe: Dark Lit Sweep Order Type available across all BXE market segments, effective Friday 14th November 2014

November 07, 2014 13:36:40

Dear BATS Chi-X Europe Participants

Further to the recent launch of the Dark Lit Sweep order type for securities in Nordic markets (Stockholm, Copenhagen, Helsinki and Oslo) on the BXE order book, BATS Chi-X Europe is pleased to announce the extension of this order type's availability to all remaining BXE market segments, effective Friday 14th November 2014. Dark Lit Sweep offers Participants access to BXE dark (midpoint matching) and the BXE lit order books with a single order, and it is currently available for testing in the BXE Certification environment.

Subject to successful certification, the order type can be used by any Participant of BATS Chi-X Europe and no additional paperwork is required. Sponsored Clients can also use this order type, subject to written permission from their Sponsoring Participant.
How the order type works

* Participants submit an order through either their FIX or BOE order entry ports and flag the order as a Dark Lit Sweep order (see technical implementation notes below)

* Orders access midpoint liquidity and/or lit order book liquidity based on best price. Best price logic automatically executes on whichever order book, lit or dark, has the better price first. In the event of a tie between the available prices on the Dark and Lit order book the execution will preference the dark order book for potential midpoint matching

* Residual volume can either be cancelled back to the Participant or left to rest on the BXE lit order book

Pricing

* Dark Lit Sweep orders will attract the associated Remove Fee charge of 0.15bps when taking liquidity from the BXE dark and lit order books. Residual volume that rests and executes passively will execute with zero fee in line with the BXE lit order book pricing schedule

* The Pricing Schedule is available at the following link: http://cdn.batstrading.com/resources/participant_resources/BATSEuro_Pricing_Effective.pdf

Clearing
All trades are cleared and settled in line with the Participant's existing post-trade arrangements. Trades resulting from Dark Lit Sweep orders will be included in the Participant's End of Day (EOD) trade data file.

Technical Implementation
Participants can specify Dark Lit Sweep orders on an order by order basis by using the following value in the RoutingInst field (FIX tag 9303):

Dark Lit Sweep: FIX Tag 9303=u (lowercase)
The Dark Lit Sweep order type may also be hardcoded for Participants on their FIX or BOE port.

Testing
The new order type is available for testing in the BATS Chi-X Europe BXE Certification environment with immediate effect. Participants who are not already live with the new order type, are required to pass a certification test before enablement in Production. Please contact the Trade Desk to schedule your formal certification test.

Related Documentation
Interbook Order Types Flyer: http://cdn.batstrading.com/resources/participant_resources/BATSEuro_Interbook.pdf
Trading Price List: http://www.batstrading.co.uk/resources/participant_resources/BATSEuro_Pricing.pdf
Specifications: The FIX and BOE technical specifications are available for download at the following link http://www.batstrading.co.uk/support/
Please contact the Trade Desk or your Account Manager if you have any questions. We appreciate your continued support of BATS Chi-X Europe.
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 a Recognised Investment Exchange regulated by the Financial Conduct Authority.

UPDATE - BATS Chi-X Europe to offer trading in Turkish securities - launch date on hold

October 30, 2014 17:10:27

Dear BATS Chi-X Europe Participants

Further to BATS Chi-X Europe's (BATS) announcement on 21st October regarding the planned launch of trading in Turkish securities on Monday 3rd November 2014, BATS would like to advise Participants that the launch date is on hold whilst its CCPs confirm final readiness to support this market. BATS will confirm the new go-live date in a subsequent communication.

Please contact Trade Desk EU 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 a Recognised Investment Exchange regulated by the Financial Conduct Authority

BATS Chi-X Europe to offer trading in Turkish securities - effective Monday 3rd November

October 21, 2014 09:22:28

Dear BATS Chi-X Europe Participants

BATS Chi-X Europe (BATS) is pleased to announce the start of trading in Turkish securities, effective Monday 3rd November 2014, subject to it and its CCPs receiving regulatory approval. From this date BATS will commence trading in the constituent names of the BIST30 index, centrally cleared under the existing interoperable model, and settled in the domestic Central Securities Depository (CSD), Takasbank.

Market Model and Order Types
Securities in the BIST30 index will be made available for trading on both the BXE and CXE lit order books only. For these Turkish securities BATS will not support:

* trading on the BXE or CXE non-displayed dark books

* entering of non-displayed order types in the BXE or CXE lit book

* pegged orders in the BXE or CXE lit book

* onward routing

Static and Order Price Collars will apply to Turkish securities in accordance with those applied to the BATS Regulated Market, as described in the Participant Manual.

Trade Reporting
BATS will support Exchange Trade Reports (ETRs) in BIST30 securities.

For a full list of order type behaviour please view the BATS Participant Manual link below:

http://cdn.batstrading.com/resources/participant_resources/BATS_Chi-X_Europe_Participant_Manual.pdf

Symbology
Turkish symbols will follow the existing uniform symbology methodology and will use the country code identifier of "y" to represent this market. A full list of securities that will be supported along with reference data will be published in a future notice.

Tick Sizes
The following tick size regime will apply.

Base Price Range (TRY)

Price Tick (TRY)

0.01 - 10.00

0.01

10.05 - 100.00

0.05

100.50 and over

0.50

Market Data
BATS will distribute market data for Turkish securities on matching unit 11, details of which can be viewed on the updated TCP PITCH and Multicast PITCH links below:

http://cdn.batstrading.com/resources/participant_resources/BATS_Europe_PITCH_Specification.pdf
http://cdn.batstrading.com/resources/participant_resources/BATS_Europe_MC_PITCH_Specification.pdf

Testing
Turkish securities are available for testing in the BATS test environment with immediate effect.

Post Trade
BATS will extend its existing interoperable post trade model to trades in Turkish securities, with Participants being able to choose from EuroCCP NV, LCH.Clearnet Ltd and SIX x-clear AG as their CCP. Trades will be netted (as appropriate) and settled in the domestic Central Securities Depositary (CSD), Takasbank on a T+2 settlement cycle.

Participants wishing to trade Turkish securities will need to contact their clearing member or CCP to complete the appropriate clearing authority prior to being set live by BATS.

Market Hours and Trading Calendar
BATS will apply the existing continuous trading session and Exchange Trade Report hours. The market hours and holiday calendar can be viewed on the below link:

http://www.batstrading.co.uk/support/hours/

Pricing
Executions in Turkish securities will be charged as follows:

Order Book

Add rebate

Remove charge

BXE

0.00 bps

0.20 bps

CXE

0.25 bps

0.45 bps

For a full list of BATS trading pricing please visit: http://cdn.batstrading.com/resources/participant_resources/BATSEuro_Pricing_Effective.pdf

Please contact Trade Desk EU 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 a Recognised Investment Exchange regulated by the Financial Conduct Authority.

REMINDER - BATS Chi-X Europe: Disaster Recovery Test - Sat 11th Oct 2014

October 01, 2014 15:10:48

Dear BATS Chi-X Europe Participants

Disaster Recovery test - Saturday, 11th October 2014

As previously announced, BATS Chi-X Europe will be conducting a weekend Disaster Recovery test on the Production BXE and CXE integrated order books and TRF environment on Saturday, 11th October 2014. The purpose of this testing day is for BATS Chi-X Europe to simulate various disaster recovery failover scenarios, including a test of market failover from its Primary data centre at Equinix Slough (LD4) to its Secondary data centre at Equinix Park Royal (LD3). Participant attendance is not mandatory but is strongly recommended as this exercise affords Participants the ability to observe how their trading and market data applications would function in the event of a disaster recovery (DR) event at BATS Chi-X Europe.

Participants should note the following:

* Attendance - Participants should notify the Trade Desk or their Account Manager if they wish to take part in the Disaster Recovery test.
* Change Freeze - Participants wishing to take part in the Disaster Recovery test must submit any outstanding requests for new ports by 16:00 UK time on Thursday 9th October. No new port requests will be processed on Friday 10th October.
* Disaster Recovery test Schedule of Activities - Now available, please see attached.

Key contacts on the day

* The standard BATS Chi-X Europe support contacts will be available from 07:00 until 12:40 UK time:

o NOC: [email protected] +44 20 7012 8905

o Trade Desk: [email protected] +44 20 7012 8901

Conference Bridge

* There will be an open conference bridge used by BATS Chi-X Europe staff to disseminate regular progress updates throughout the day. Customers should direct queries to the TradeDesk using the above contact number.

* The conference bridge will open from 07:30 and close at 12:40 UK.

o UK Call-in Number: +44 207 897 0111

o Participant Passcode: 9212078983#

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 a Recognised Investment Exchange regulated by the Financial Conduct Authority.

REMINDER - BATS Chi-X Europe: Q3 Exchange Release - Upcoming Mandatory Changes to BATS Chi-X Europe Order Books and Trade Reporting Services, effective Fri 26th Sept, 2014

September 16, 2014 16:56:09

Dear BATS Chi-X Europe Participants,

BATS Chi-X Europe (BATS) would like to draw specific attention to the previously announced FIX Trade Capture Report (TCR) changes referenced in the Q3 Release Guidance note, which are being introduced to align with recently approved FIX trade reporting standards for Market Model Typology (MMT) by FIX Protocol Limited (FPL):

* Effective Friday 26th September 2014, BATS will not automatically enable the new FIX TCR functionality upon participant ports.

* The new FIX TCR changes will be supportable by use of a port configuration parameter at BATS, starting from Friday 26th September 2014.

* The old FIX TCR logic will continue to be an available option, however it will be decommissioned at some point within Q1 of 2015.

* Once confirmed, the decommission date for the old FIX TCR logic will be published granting participants ample notice before the deadline date drops.

* Any participants opting into the new FIX TCR logic must contact Trade Desk and instruct BATS of the date from when to enable the new FIX TCR logic and upon which ports.

* Failure to contact Trade Desk and request enablement of the new FIX TCR logic will result in continued old FIX TCR logic behaviour on participant ports on Friday 26th September 2014.

Summary of FIX Trade Capture Report Changes

* FIX - The following FIX value changes impact Trade Capture Report messages only:

o For ETRs, VenueType (1430) and MatchType (574) will become mandatory

o TradePublishIndicator (1390) will become mandatory

o An additional value of '0' (Do Not Publish) will be supported for TradePublishIndicator (1390)

o PreviouslyReported (570) will be deprecated in favour of TradePublishIndicator (1390)

o New approved value of 'O' instead of 'X' to indicate VenueType (1430) = Offbook

o New approved value of '62' instead of '59' to indicate TrdType (828) = Dark

o New approved value of '63' instead of '60' to indicate TrdType (828) = Technical

o New approved value of '64' instead of '58' to indicate SecondaryTrdType (855) = Benchmark

o TradingSessionSubID (625) must be specified in the NoSides repeating group

o An additional value of '8' (Unspecified Auction) will be supported for TradingSessionSubID (625)

o Added support for using OrderCategory = 3 (Privately Negotiated Trade) in order to set the MMT Level 3.2 flag

Separate to the above, the rest of the changes previously announced in the Q3 release are mandatory, and will take effect on Friday 26th September 2014 (from start of day). Those changes are summarised below:

Summary of Mandatory Changes

* PITCH:

o MMT v2.2 Level 3.7 flag 'Off Book Automated Indicator' will be added to the Trade Report Message. This flag will replace the current 'BATS Transaction Sub-Category' flag, which was reserved for future use. The use of the 'AUT' value in the Execution Venue field of the Trade Report Message to indicate an OTC trade executed in an automated manner will be deprecated and liable to be removed in a future release.

o Use of the fourth character of the Execution ID to differentiate BXE and CXE executions will be deprecated in favour of the use of MMT Level 1 flags contained within the Order Executed and Trade messages

o Added support for an additional value in MMT Level 2 for an 'Undefined Auction'

* Trade Data File:

o Two new columns 'Off Book Automated Indicator' and 'Account' will be added

* Symbol File:

o The 'eccp_enabled' column will be removed. The 'emcf_enabled' column will be renamed to 'euroccp_enabled'

o The column 'printed_name' will be added and will contain the Uniform Symbology symbol that will appear on market data feeds for the instrument in that row

* BOE for BXTR:

o Use of the PreviouslyReported flag will not be supported in conjunction with deferred publication of trade reports

Reason for changes

The mandatory changes are being made in order to extend support for MMT v2.2 and in response to Participant demand. The FIX changes are being made to accommodate recently approved changes in the FIX trade reporting standards for MMT.

Documentation

* Q3 Release Guidance Note: http://cdn.batstrading.com/resources/participant_resources/BCE-GuidanceNote-Q3Release_final.pdf

* TCP PITCH spec: http://cdn.batstrading.com/resources/participant_resources/BATS_Europe_PITCH_Specification.pdf

* Multicast PITCH spec: http://cdn.batstrading.com/resources/participant_resources/BATS_Europe_MC_PITCH_Specification.pdf

* On-Exchange FIX spec: http://cdn.batstrading.com/resources/participant_resources/BATS_Europe_FIX_Specification.pdf

* Off-Exchange FIX Spec: http://cdn.batstrading.com/resources/participant_resources/BATS_ChiX_Europe_TRF_FIX_Specification.pdf

* On-Exchange BOE spec: http://cdn.batstrading.com/resources/participant_resources/BATS_Europe_Binary_Order_Entry_Specification.pdf

* Off-Exchange BOE spec:http://cdn.batstrading.com/resources/participant_resources/BATS_ChiX_Europe_TRF_BOE_Specification.pdf

* Reference Data spec: http://cdn.batstrading.com/resources/participant_resources/BATS_Europe_Reference_Data.pdf

Testing

All the changes aforementioned changes are currently available for testing in the Certification (UAT) environments.

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.

Please refer to the Technical Change Calendar which summarises all upcoming major technical changes.

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 a Recognised Investment Exchange regulated by the Financial Conduct Authority.

BATS Chi-X Europe - ETF Post-Trade Transparency

September 15, 2014 17:03:06

Dear BATS Chi-X Europe Participants,

BATS Chi-X Europe (BATS) has collaborated with ETF issuers, brokers and market makers to determine how best to enhance the post-trade transparency for ETFs ahead of MiFID II using its trade reporting service, BXTR. To this end, BATS will introduce a delayed reporting regime for all ETFs under the table below in Q1 of 2015; and from 1 October 2014 proposes to amend its Average Daily Turnover (ADT) for all ETFs from €100k to €25m. This level most closely reflects BATS’ target regime when operated under ESMA’s current delayed reporting regime for EU securities.

A Participant Notice has been issued (attached) with the proposed revised text to the Participant Manual in order that Participants have a period in which to comment on this proposal. Such changes will also be reflected in the TRS Service Description.

BATS Participants will be able to report their off-order book ETF trades to BATS using either BATS’ BXTR Trade Data Monitor (TDM) service or BATS’ BXTR ETR service:

* Existing BATS BXTR Participants can utilise their existing reporting arrangements and are encouraged to ensure their ETF trades are included
* Non BATS BXTR Participants can either:
* register and use their FIX or BOE connections, or
* register and use BATS’ BXTR TDM trade reporting GUI (ideal for smaller volume participants), or
* if not registered but transacting with a BATS BXTR Participant, ask your counterparty to report the trade
* BATS regulatory status as a TDM trade reporting venue allows Participants to report all of their ETF trades to BATS rather than to multiple national exchanges or TDMs
* Firms wishing to make use of BATS’ Swiss TDM licence would also need to become a reporting member of the Berne eXchange (BX Swiss) if not already a trading member of BX Swiss.

BATS’ Delayed Reporting Schedule:

[cid:[email protected]]
NOTE: BATS Participants operating under BATS BXTR TDM service should report all trades to BATS within 3 minutes unless the trade is eligible for delay. BATS will publish trades immediately upon receipt unless the Participant elects for delayed reporting, in which case and if eligible, BATS will hold pending the trade report and automate its release at the appropriate time. Any report delayed beyond the close will be published at 07:50 London time on T+1.

BATS Participants wishing to become a BXTR trade reporting member are asked to contact Trade Desk EU or their Account Manager if they have any questions.
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 a Recognised Investment Exchange regulated by the Financial Conduct Authority.

BATS Chi-X Europe: UK & European Securities Markets Moving to a T+2 Settlement Cycle, effective 6th October 2014 - 3rd UPDATE

September 10, 2014 14:50:34

Dear BATS Chi-X Europe Participants,

BATS Chi-X Europe (BATS) would like to remind Participants of the upcoming mandatory changes to the standard settlement cycle for markets traded on its platform. Effective 6th October 2014, all trades conducted on BATS, in line with other European Regulated Markets and Multilateral Trading Facilities, will change the standard settlement cycle from T+3 to T+2, unless otherwise stated.

Below is a summary of the countries BATS offers trading in and confirmation of each market's move to a T+2 settlement cycle:

Country Segment

Central Securities Depositary (CSD)

Date to move to T+2

Securities impacted on BATS

Austria

OEKD

6th October 2014

All securities* traded on BATS

Belgium

Euroclear Belgium

6th October 2014

All securities* traded on BATS

Denmark

VP Securities

6th October 2014

All securities* traded on BATS

France

Euroclear France

6th October 2014

All securities* traded on BATS

Finland

Euroclear Finland

6th October 2014

All securities* traded on BATS

Germany

Clearstream Frankfurt

Already T+2

All securities* traded on BATS

Ireland

Euroclear UK & Ireland

6th October 2014

All securities* traded on BATS

Italy

Monti Titoli

6th October 2014

All securities* traded on BATS

Netherlands

Euroclear Nederland

6th October 2014

All securities* traded on BATS

Norway

VPS

6th October 2014

All securities* traded on BATS

Portugal

Interbolsa

6th October 2014

All securities* traded on BATS

Spain

Iberclear

Q4 2015 (Equities, ETPs)

None. See note on date

Sweden

Euroclear Sweden

6th October 2014

All securities* traded on BATS

Switzerland

SIX SIS

6th October 2014

All securities* traded on BATS

United Kingdom

Euroclear UK & Ireland

6th October 2014

All securities* traded on BATS

Depositary Receipts

Euroclear Bank

6th October 2014

All securities* traded on BATS

*All securities are classified as equities, Exchange Traded Products (ETPs) and depositary receipts.

Order and trade types
All order types and trade types supported by BATS, including Exchange Trade Reports (ETRs) will be subject to the above mandatory settlement cycle change. BATS does not currently support the processing of non-standard settlement to Central Counterparties (CCPs) through its ETR service.

Testing
There are no technical changes to the BATS trade feed to Central Counterparties (CCPs) as a result of the settlement cycle change. However, Participants wishing to simulate end to end testing through the BATS testing platform should contact their CCP and the respective CSD to arrange a testing window. The BATS test platform is available during normal business hours http://www.batstrading.co.uk/support/hours/.

Best Practice Guidance on T+2 Settlement
BATS would like to draw Participants attention to The European Central Bank T2S Task Force best practice paper on T+2 settlement which can be viewed on the below link, and to the attached FAQs which has been published by the UK & Ireland T+2 working group: http://www.ecb.europa.eu/paym/t2s/governance/ag/html/taskforcet2/index.en.html

Please contact BATS Post Trade EU, Trade Desk EU 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 a Recognised Investment Exchange regulated by the Financial Conduct Authority.

Reminder: BATS Chi-X Europe: BXE CERTIFICATION (UAT) test environment unavailable every Wednesday

August 29, 2014 13:36:44

Dear BATS Chi-X Europe Participants

As per previous notifications, please note that the BXE CERTIFICATION (UAT) test environment is unavailable on Wednesdays.

The CXE and TRF CERTIFICATION test environments continue to be available for testing as normal on Wednesdays, and may be used for testing during times when the BXE test environment is unavailable.

The BXE CERTIFICATION test environment will become available again on the following Thursday morning of each week.

Participants are advised to take the above into consideration whilst planning their testing activities.

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 a Recognised Investment Exchange regulated by the Financial Conduct Authority.

REMINDER - BATS Chi-X Europe: Q3 Exchange Release - Upcoming Mandatory Changes to BATS Chi-X Europe Order Books and Trade Reporting Services, effective Fri 26th Sept, 2014

August 14, 2014 15:27:07

Dear BATS Chi-X Europe Participants,

The following changes constitute the BATS Chi-X Europe Q3 Exchange Release.

BATS Chi-X Europe would like to highlight forthcoming mandatory changes to the BATS Chi-X Europe order books and Trade Reporting Services (BXE, CXE and TRF) effective Friday 26th September 2014. Participants must be prepared for these changes from start of day on the effective date.

Summary of Mandatory Changes

* PITCH:

o MMT v2.2 Level 3.7 flag 'Off Book Automated Indicator' will be added to the Trade Report Message. This flag will replace the current 'BATS Transaction Sub-Category' flag, which was reserved for future use. The use of the 'AUT' value in the Execution Venue field of the Trade Report Message to indicate an OTC trade executed in an automated manner will be deprecated and liable to be removed in a future release.

o Use of the fourth character of the Execution ID to differentiate BXE and CXE executions will be deprecated in favour of the use of MMT Level 1 flags contained within the Order Executed and Trade messages

o Added support for an additional value in MMT Level 2 for an 'Undefined Auction'

* Trade Data File:

o Two new columns 'Off Book Automated Indicator' and 'Account' will be added

* Symbol File:

o The 'eccp_enabled' column will be removed. The 'emcf_enabled' column will be renamed to 'euroccp_enabled'

o The column 'printed_name' will be added and will contain the Uniform Symbology symbol that will appear on market data feeds for the instrument in that row

* BOE for BXTR:

o Use of the PreviouslyReported flag will not be supported in conjunction with deferred publication of trade reports

In addition, for users of FIX Trade Capture Report messages, mandatory changes are being introduced to align with recently approved FIX trade reporting standards for Market Model Typology (MMT) by FIX Protocol Limited (FPL). The new FIX values for Trade Capture Report messages will be supported as of Friday 26th September 2014 and the old FIX values will be removed at a later date (no earlier than Q1 2015). Affected Participants should indicate to BATS their readiness and planned migration to the new FIX values as soon as possible after Friday 26th September 2014.

Summary of FIX Trade Capture Report Changes

* FIX - The following FIX value changes impact Trade Capture Report messages only:

o For ETRs, VenueType (1430) and MatchType (574) will become mandatory

o TradePublishIndicator (1390) will become mandatory

o An additional value of '0' (Do Not Publish) will be supported for TradePublishIndicator (1390)

o PreviouslyReported (570) will be deprecated in favour of TradePublishIndicator (1390)

o New approved value of 'O' instead of 'X' to indicate VenueType (1430) = Offbook

o New approved value of '62' instead of '59' to indicate TrdType (828) = Dark

o New approved value of '63' instead of '60' to indicate TrdType (828) = Technical

o New approved value of '64' instead of '58' to indicate SecondaryTrdType (855) = Benchmark

o TradingSessionSubID (625) must be specified in the NoSides repeating group

o An additional value of '8' (Unspecified Auction) will be supported for TradingSessionSubID (625)

o Added support for using OrderCategory = 3 (Privately Negotiated Trade) in order to set the MMT Level 3.2 flag

Reason for changes

The mandatory changes are being made in order to extend support for MMT v2.2 and in response to Participant demand. The FIX changes are being made to accommodate recently approved changes in the FIX trade reporting standards for MMT.

Documentation

* Q3 Release Guidance Note: http://cdn.batstrading.com/resources/participant_resources/BCE-GuidanceNote-Q3Release_final.pdf

* TCP PITCH spec: http://cdn.batstrading.com/resources/participant_resources/BATS_Europe_PITCH_Specification.pdf

* Multicast PITCH spec: http://cdn.batstrading.com/resources/participant_resources/BATS_Europe_MC_PITCH_Specification.pdf

* On-Exchange FIX spec: http://cdn.batstrading.com/resources/participant_resources/BATS_Europe_FIX_Specification.pdf

* Off-Exchange FIX Spec: http://cdn.batstrading.com/resources/participant_resources/BATS_ChiX_Europe_TRF_FIX_Specification.pdf

* On-Exchange BOE spec: http://cdn.batstrading.com/resources/participant_resources/BATS_Europe_Binary_Order_Entry_Specification.pdf

* Off-Exchange BOE spec:http://cdn.batstrading.com/resources/participant_resources/BATS_ChiX_Europe_TRF_BOE_Specification.pdf

* Reference Data spec: http://cdn.batstrading.com/resources/participant_resources/BATS_Europe_Reference_Data.pdf

An additional guidance note for this Q3 Exchange Release will be made available in due course to aid Participants in their readiness for these upcoming changes.

Testing

The above changes will be made available for testing in the Certification (UAT) environments from Tuesday 26th August 2014.

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.

Please refer to the Technical Change Calendar which summarises all upcoming major technical changes.

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 a Recognised Investment Exchange regulated by the Financial Conduct Authority.

BATS Chi-X Europe: Weekend Disaster Recovery Test on Saturday 11th Oct, 2014

August 01, 2014 14:56:39

Dear BATS Chi-X Europe Participants
The purpose of this announcement is to inform Participants that BATS Chi-X Europe will be conducting a weekend Disaster Recovery test on the Production BXE, CXE & TRF platforms on Saturday, 11th October 2014.

The purpose of this testing day is for BATS Chi-X Europe to simulate various disaster recovery failover scenarios, including a test of market failover from its Primary data centre at Equinix Slough (LD4) to its Secondary data centre at Equinix Park Royal (LD3).
Participant attendance is not mandatory but is strongly recommended as this exercise affords Participants the ability to observe how their trading and market data applications would function in the event of a disaster recovery (DR) event at BATS Chi-X Europe.

Participants should note the following:

* Participants will be able to test Production and DR connectivity, submit live FIX and BOE orders and consume both TCP and Multicast PITCH market data throughout the day.

* All live symbols will be available for order submission on the day.

* Variable amounts of load will be simulated for the purposes of market data consumption and throughput testing. Participants should clear down their applications at the end of the testing day to ensure unwanted data from this weekend test is not retained in their trading systems on the following Monday morning.

* No trades transacted on the day will be submitted for Clearing or Settlement.
* Participants can view their Secondary datacentre IPs, ports and session ID information at any time by utilising the Ports Dashboard view of the secure Participant area of the BATS Chi-X Europe website.

* Any Participants who have not yet established physical connectivity to the Secondary datacentre are advised to please contact the BATS Chi-X Europe Network Operations Centre (NOC). We recommend prompt action to minimise any risk associated with implementation delays that can occur when establishing new connectivity. Please refer to the BATS Chi-X Europe Connectivity Manual for further detail on available connectivity options.

Documentation

* Disaster Recovery Guide - This document describes how the Secondary site at Equinix Park Royal (LD3) functions in the event of a datacentre failover invocation by BATS Chi-X Europe.

Further information including a detailed schedule of activities for the duration of the day will be disseminated in due course.

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 a Recognised Investment Exchange regulated by the Financial Conduct Authority.

REMINDER - BATS Chi-X Europe: Upcoming functional changes to the ETR and Trade Reporting Services, effective Fri 25th July 2014

July 22, 2014 10:04:53

Dear BATS Chi-X Europe Participants

BATS Chi-X Europe would like to highlight forthcoming changes to the Exchange Trade Report (ETR) and BXTR Trade Reporting services, effective Friday 25th July 2014. All Participants wishing to utilise these services should be prepared for these changes from start of day on the effective date.

Summary of changes

* New ETR reporting hours - ETRs (for new trade reports, cancels, amends and releases) will be allowed from 07:50 - 17:30 London time on the BXE and CXE platforms. Please note that there will be no change to order book trading hours.

* FIX Trade Capture Report (TCR) decimal place change - TCR Price Specification will go out to 7dp for clearing-suppressed TCRs and for any ETR that does not involve EuroCCP. For ETRs involving EuroCCP, price specification will go out to 5dp. These changes will apply to the BXE, CXE and TRF environments and will only be available on FIX ports. 7dp for BOE will be available in a later release.

* BOE support for MMT 3.7 - TCRs reported via BOE will be able to make use of the new ExecutionMethod optional bitfield.

Reason for changes

These changes are being made in response to participant demand.

Documentation

The updated BATS Chi-X Europe specs are available here: http://www.batstrading.co.uk/support/#menu-tech-specs

Testing

The changes above will be made available for testing in the Certification (UAT) environments from Friday 27th June 2014.

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.

Please refer to the Technical Change Calendar which summarises all upcoming major technical changes.

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 a Recognised Investment Exchange regulated by the Financial Conduct Authority.

BATS Chi-X Europe: New Dark Lit Sweep Order Type, Effective Friday 29th August

July 18, 2014 10:32:54

Dear BATS Chi-X Europe Participants,

BATS Chi-X Europe is pleased to announce the introduction of a new interbook order type, Dark Lit Sweep, which offers Participants access to BXE dark (midpoint matching) and the BXE lit order book with a single order. As part of a pilot release, the new order type is only available for securities in Nordic markets (Stockholm, Copenhagen, Helsinki and Oslo) on BXE and will launch on Friday 29th August. It is available now for testing in the BXE Certification environment.

Subject to successful certification, the order type can be used by any Participant of BATS Chi-X Europe trading Nordic markets and no additional paperwork is required. Sponsored Clients can also use this order type, subject to written permission from their Sponsoring Participant.
How the order type works

* Participants submit an order through either their FIX or BOE order entry ports and flag the order as a Dark Lit Sweep order (see technical implementation notes below)

* Orders access midpoint liquidity and/or lit order book liquidity based on best price. Best price logic automatically executes on whichever order book, lit or dark, has the better price first. In the event of a tie between the available prices on the Dark and Lit order book the execution will preference the dark order book for potential midpoint matching

* Residual volume can either be cancelled back to the Participant or left to rest on the BXE lit order book

Pricing

* Dark Lit Sweep orders will attract the associated Remove Fee charge of 0.15bps when taking liquidity from the BXE dark and lit order books. Residual volume that rests and executes passively will execute with zero fee in line with the BXE lit order book pricing schedule

* The Pricing Schedule is available at the following link: http://cdn.batstrading.com/resources/participant_resources/BATSEuro_Pricing_Effective.pdf

Clearing
All trades are cleared and settled in line with the Participant's existing post-trade arrangements. Trades resulting from the Dark Lit Sweep orders will be included in the Participant's End of Day (EOD) trade data file.
Technical Implementation
Participants can specify Dark Lit Sweep orders on an order by order basis by using the following values in the RoutingInst field (FIX tag 9303):

Dark Lit Sweep: FIX Tag 9303=u (lowercase)
Dark Lit Sweep order types may also be hardcoded for Participants that only have Nordic markets enabled for trading on their FIX or BOE port.
Testing
The new order type is available for testing in the BATS Chi-X Europe Certification environments with immediate effect. Participants are required to pass a certification test for the new order type before enablement in Production. Please contact the Trade Desk to schedule your formal certification test.

Related Documentation
Interbook Order Types Flyer: http://cdn.batstrading.com/resources/participant_resources/BATSEuro_Interbook.pdf
Trading Price List: http://www.batstrading.co.uk/resources/participant_resources/BATSEuro_Pricing.pdf
Specifications: The FIX and BOE technical specifications are available for download at the following link http://www.batstrading.co.uk/support/
Please contact the Trade Desk or your Account Manager if you have any questions. We appreciate your continued support of BATS Chi-X Europe.
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 a Recognised Investment Exchange regulated by the Financial Conduct Authority.

REMINDER - BATS Chi-X Europe: Q3 Exchange Release - Upcoming Mandatory Changes to BATS Chi-X Europe Order Books and Trade Reporting Services, effective Fri 26th Sept, 2014

July 16, 2014 10:05:06

Dear BATS Chi-X Europe Participants

**New guidance documentation is available to aid participants in their readiness for all the upcoming changes in the Q3 Production release, effective start of day Friday 26th September 2014:

Q3 Release Guidance Note: http://cdn.batstrading.com/resources/participant_resources/BCE-GuidanceNote-Q3Release_final.pdf

As a reminder, all the changes in this release, both mandatory and optional will be available for testing in the Certification (UAT) environments from Tuesday 26th August 2014.

The upcoming changes impact all BATS Chi-X Europe order books and trade reporting services (BXE, CXE and TRF). Participants must be prepared for changes from start of day on the effective date.

Participants may also refer to the Technical Change Calendar which summarises all upcoming major technical changes.

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 a Recognised Investment Exchange regulated by the Financial Conduct Authority.

BATS Chi-X Europe - CCP Interoperability for ETFs / ETPs, effective Mon 21st July 2014

July 11, 2014 15:01:19

Dear BATS Chi-X Europe Participants,

BATS Chi-X Europe (BATS) is pleased to announce that following regulatory approval BATS will be extending its CCP interoperable clearing model to include Exchange Traded Funds (ETFs) effective Monday 21st July 2014. From this date Participants will be able to select one of these three CCPs: EuroCCP N.V., LCH.Clearnet Ltd or SIX X-Clear, to clear their ETF/ETP trades executed on BATS' CXE and BXE lit and dark order books, and through their Exchange Trade Reports (ETRs) submitted to BATS under its BXTR trade reporting service.

Participants have until now only been able clear their ETF/ETP trades on BATS through EuroCCP N.V. This change will enable Participants to cross venue net their ETF/ETP trades executed on other venues, including SIX and LSE, with their BATS trades.

The interoperable clearing model will operate in the same way as it does today for all BATS trading activity. Participants wishing to test the service can do so immediately by contacting the Trade Desk.

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 a Recognised Investment Exchange regulated by the Financial Conduct Authority.

BATS Chi-X Europe: Q3 Exchange Release - Upcoming Mandatory Changes to BATS Chi-X Europe Order Books and Trade Reporting Services, effective Fri 26th Sept, 2014

June 26, 2014 15:30:45

Dear BATS Chi-X Europe Participants,

The following changes constitute the BATS Chi-X Europe Q3 Exchange Release.

BATS Chi-X Europe would like to highlight forthcoming mandatory changes to the BATS Chi-X Europe order books and Trade Reporting Services (BXE, CXE and TRF) effective Friday 26th September 2014. Participants must be prepared for these changes from start of day on the effective date.

Summary of Mandatory Changes

* PITCH:

o MMT v2.2 Level 3.7 flag 'Off Book Automated Indicator' will be added to the Trade Report Message. This flag will replace the current 'BATS Transaction Sub-Category' flag, which was reserved for future use. The use of the 'AUT' value in the Execution Venue field of the Trade Report Message to indicate an OTC trade executed in an automated manner will be deprecated and liable to be removed in a future release.

o Use of the fourth character of the Execution ID to differentiate BXE and CXE executions will be deprecated in favour of the use of MMT Level 1 flags contained within the Order Executed and Trade messages

o Added support for an additional value in MMT Level 2 for an 'Undefined Auction'

* Trade Data File:

o Two new columns 'Off Book Automated Indicator' and 'Account' will be added

* Symbol File:

o The 'eccp_enabled' column will be removed. The 'emcf_enabled' column will be renamed to 'euroccp_enabled'

o The column 'printed_name' will be added and will contain the Uniform Symbology symbol that will appear on market data feeds for the instrument in that row

* BOE for BXTR:

o Use of the PreviouslyReported flag will not be supported in conjunction with deferred publication of trade reports

In addition, for users of FIX Trade Capture Report messages, mandatory changes are being introduced to align with recently approved FIX trade reporting standards for Market Model Typology (MMT) by FIX Protocol Limited (FPL). The new FIX values for Trade Capture Report messages will be supported as of Friday 26th September 2014 and the old FIX values will be removed at a later date (no earlier than Q1 2015). Affected Participants should indicate to BATS their readiness and planned migration to the new FIX values as soon as possible after Friday 26th September 2014.

Summary of FIX Trade Capture Report Changes

* FIX - The following FIX value changes impact Trade Capture Report messages only:

o For ETRs, VenueType (1430) and MatchType (574) will become mandatory

o TradePublishIndicator (1390) will become mandatory

o An additional value of '0' (Do Not Publish) will be supported for TradePublishIndicator (1390)

o PreviouslyReported (570) will be deprecated in favour of TradePublishIndicator (1390)

o New approved value of 'O' instead of 'X' to indicate VenueType (1430) = Offbook

o New approved value of '62' instead of '59' to indicate TrdType (828) = Dark

o New approved value of '63' instead of '60' to indicate TrdType (828) = Technical

o New approved value of '64' instead of '58' to indicate SecondaryTrdType (855) = Benchmark

o TradingSessionSubID (625) must be specified in the NoSides repeating group

o An additional value of '8' (Unspecified Auction) will be supported for TradingSessionSubID (625)

o Added support for using OrderCategory = 3 (Privately Negotiated Trade) in order to set the MMT Level 3.2 flag

Reason for changes

The mandatory changes are being made in order to extend support for MMT v2.2 and in response to Participant demand. The FIX changes are being made to accommodate recently approved changes in the FIX trade reporting standards for MMT.

Documentation

* TCP PITCH spec: http://cdn.batstrading.com/resources/participant_resources/BATS_Europe_PITCH_Specification.pdf

* Multicast PITCH spec: http://cdn.batstrading.com/resources/participant_resources/BATS_Europe_MC_PITCH_Specification.pdf

* On-Exchange FIX spec: http://cdn.batstrading.com/resources/participant_resources/BATS_Europe_FIX_Specification.pdf

* Off-Exchange FIX Spec: http://cdn.batstrading.com/resources/participant_resources/BATS_ChiX_Europe_TRF_FIX_Specification.pdf

* On-Exchange BOE spec: http://cdn.batstrading.com/resources/participant_resources/BATS_Europe_Binary_Order_Entry_Specification.pdf

* Off-Exchange BOE spec:http://cdn.batstrading.com/resources/participant_resources/BATS_ChiX_Europe_TRF_BOE_Specification.pdf

* Reference Data spec: http://cdn.batstrading.com/resources/participant_resources/BATS_Europe_Reference_Data.pdf

An additional guidance note for this Q3 Exchange Release will be made available in due course to aid Participants in their readiness for these upcoming changes.

Testing

The above changes will be made available for testing in the Certification (UAT) environments from Tuesday 26th August 2014.

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.

Please refer to the Technical Change Calendar which summarises all upcoming major technical changes.

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 a Recognised Investment Exchange regulated by the Financial Conduct Authority.

BATS Chi-X Europe: Order Handler end of day maintenance, commencing Mon 23rd June 2014

June 19, 2014 09:29:07

Dear BATS Chi-X Europe participants,

This notice applies to FIX and BOE order entry handler session connectivity for the CXE and BXE PRODUCTION order book environments.

Effective Monday 23rd June 2014 through to Friday 29th August 2014, BATS Chi-X Europe will be carrying out maintenance activities at end of day, after business activity has ceased but prior to session end. Prior to Friday 25th July 2014 this work will commence after 17:15 daily, from Friday 25th July 2014 it will commence after 17:30 daily, all times are London time. As a result you may notice order entry handler session disconnects during this period. Please note there will be no impact to dropcopy or market data feed sessions.

In addition, there will be limited intraday disruptions to the CERTIFICATION order book environments during this period.

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 a Recognised Investment Exchange regulated by the Financial Conduct Authority.

BATS Chi-X Europe: Upcoming functional changes to the ETR and Trade Reporting Services, effective Fri 25th July 2014

June 13, 2014 14:52:54

Dear BATS Chi-X Europe Participants

BATS Chi-X Europe would like to highlight forthcoming changes to the Exchange Trade Report (ETR) and BXTR Trade Reporting services, effective Friday 25th July 2014. All Participants wishing to utilise these services should be prepared for these changes from start of day on the effective date.

Summary of changes

* New ETR reporting hours - ETRs (for new trade reports, cancels, amends and releases) will be allowed from 07:50 - 17:30 London time on the BXE and CXE platforms. Please note that there will be no change to order book trading hours.

* FIX Trade Capture Report (TCR) decimal place change - TCR Price Specification will go out to 7dp for clearing-suppressed TCRs and for any ETR that does not involve EuroCCP. For ETRs involving EuroCCP, price specification will go out to 5dp. These changes will apply to the BXE, CXE and TRF environments and will only be available on FIX ports. 7dp for BOE will be available in a later release.

* BOE support for MMT 3.7 - TCRs reported via BOE will be able to make use of the new ExecutionMethod optional bitfield

Reason for changes

These changes are being made in response to participant demand.

Documentation

The updated BATS Chi-X Europe specs are available here: http://www.batstrading.co.uk/support/#menu-tech-specs

Testing

The changes above will be made available for testing in the Certification (UAT) environments from Friday 27th June 2014.

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.

Please refer to the Technical Change Calendar which summarises all upcoming major technical changes.

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 a Recognised Investment Exchange regulated by the Financial Conduct Authority.

BATS Chi-X Europe: Update of Price Specification in CSV Download Files

May 21, 2014 14:51:17

Dear BATS Chi-X Europe Participants,

BATS Chi-X Europe would like to advise Participants of an upcoming change which will result in the reformatting of the Trade Data File and the Live Symbol CSV File accessible from its public website.

Participants who currently process these CSV files should expect to start receiving files with the price field formatted to 8 decimal places from Monday 26th May, 2014 in Production. Currently, these CSV files specify price information to 4 decimal places for BXE and CXE CSV files and 6 decimal places for TRF CSV files.

For example, a trade currently represented as 200.0000 will be represented as 200.00000000 from Monday 26th May, 2014.

There is no impact to any trading or market data interfaces (FIX, BOE, Drop copy or PITCH).

This change is currently available in CERTIFICATION (UAT).

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.

Please refer to the Technical Change Calendar which summarises all upcoming major technical changes.

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 a Recognised Investment Exchange regulated by the Financial Conduct Authority.

BATS Chi-X Europe: Exchange Traded Fund settlement in Euroclear Bank

May 21, 2014 11:05:44

Dear BATS Chi-X Europe Participants,

Participants will be aware that recent Exchange Traded Funds (ETFs) have been listed under an international issuance structure, in which the fund is issued and settles in Euroclear Bank (an International Clearing and Settlement Depository ICSD) rather than the domestic CSD of the listing venue. BATS Chi-X Europe (BATS) already settles in Euroclear Bank all trades in its International Depository Receipts (DRs). In order to ensure Participants can trade and settle such internationally issued securities with minimal impact, whether listed on BATS' Regulated Market (RM) or admitted to trading on BATS' MTF, BATS is expanding the use of these existing Euroclear Bank arrangements under a newly branded "International Settlement" environment. Details of any internationally issued ETFs that will operate under this environment will be provided in advance of any listing or admission to trading.

This Trade Desk Notice provides Participants with the information they need to ensure they can trade and settle in a European ICSD; further information can be found in the attached Euroclear Bank newsletter and from Euroclear Bank's website.

* Participants will experience no changes in respect of the following elements:

o their trading in DRs on BATS

o their BOE or FIX order entry interfaces

o their clearing of trades

o as for any other security listed on the BATS RM, real-time market data of internationally issued securities will be available via the existing TCP PITCH and Multicast PITCH market data feeds (matching unit 10)

o as for any other security, internationally issued securities will be uniquely identifiable in the trading segment column in CXE reference data file by a value of REGM (if listed on BATS RM) or MTF (if admitted to trading on BATS MTF)

o Order book trading hours of BATS RM listed securities will follow the same trading hours of existing securities on BATS Chi-X Europe: 0800 - 1630 UK time

o Firms using BATS' Trade Reporting (TDM) service can report their OTC Trades in internationally issued ETFs, these will not be cleared and settlement would remain between the parties

* Participants that already have Euroclear Bank settlement arrangement in place via EuroCCP NV need to obtain no further clearing permissions e.g. Participants that currently clear their BATS DR trades through EuroCCP NV

* Participants that do not have Euroclear Bank settlement arrangements in place with EuroCCP NV will need to contact EuroCCP NV or their Clearing Member to set these up as all ETFs traded on BATS are cleared through EuroCCP NV

To identify the settlement location for internationally issued securities listed on BATS' RM, the BIC code of the ICSD (MGTCBEBE) will be published in the CSD column of BATS' symbol reference data file

* Testing - listed securities (REGM) and "made available for trading on the MTF" securities (MTF) will be available in the Certification (UAT) system for testing from Friday 23 May. Participants are encouraged to test their systems' capability to submit orders, generate executions and identify settlement in Euroclear Bank in the Certification environment. The Production launch date will be advised together with final details of the fund.

* Further Information related to BATS ETF Services:

o CXE reference data file - http://certification.batstrading.co.uk/cxe/market_data/symbol_listing/csv/

o ETF Listings Homepage - http://www.batstrading.co.uk/etfs/

o FAQ - http://www.batstrading.co.uk/etfs/faq/

o CLP Description and Application Form - http://www.batstrading.co.uk/etfs/clp/

o Listings Service Description - http://cdn.batstrading.com/resources/participant_resources/BATSEuro_ListingServiceDescription.pdf

o User Guide - http://www.batstrading.co.uk/etfs/user_guide/

o Reference Data Guide - http://cdn.batstrading.com/resources/participant_resources/BATS_Europe_Reference_Data.pdf

o Rule Book and Participant Manual Documentation - http://www.batstrading.co.uk/regulation/library/

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.

Regards,

Trade Desk Europe
o: +44 20 7012 8901 | batstrading.co.uk | @BATSGlobal
10 Lower Thames Street, 6th Floor | London EC3R 6AF UK
[cid:[email protected]]

BATS Chi-X Europe: UK & European Securities Markets Moving to a T+2 Settlement Cycle, effective 6th October 2014 - UPDATE

May 16, 2014 09:30:03

Dear BATS Chi-X Europe Participants

BATS Chi-X Europe (BATS) would like to remind Participants of upcoming mandatory changes to the standard settlement cycle for markets traded on its platform. Effective 6th October 2014, all trades conducted on BATS, in line with other European Regulated Markets and Multilateral Trading Facilities, will change the standard settlement cycle from T+3 to T+2, unless otherwise stated.

Below is a summary of the countries BATS offers trading in and confirmation of each market's move to a T+2 settlement cycle:

Country Segment

Central Securities Depositary (CSD)

Date to move to T+2

Austria

OEKD

6th October 2014

Belgium

Euroclear Belgium

6th October 2014

Denmark

VP Securities

6th October 2014

France

Euroclear France

6th October 2014

Finland

Euroclear Finland

6th October 2014

Germany

Clearstream Frankfurt

Already T+2

Ireland

Euroclear UK & I

6th October 2014

Italy

Monti Titoli

6th October 2014

Netherlands

Euroclear Nederland

6th October 2014

Norway

VPS

6th October 2014

Portugal

Interbolsa

6th October 2014

Spain

Iberclear

Q4 2015 (Equities)

Sweden

Euroclear Sweden

6th October 2014

Switzerland

SIX SIS

6th October 2014

United Kingdom

Euroclear UK & Ireland

6th October 2014

Depositary Receipts

Euroclear Bank

6th October 2014

Testing
There are no technical changes to the BATS trade feed to Central Counterparties (CCPs) as a result of the settlement cycle change. However, Participants wishing to simulate end to end testing through the BATS testing platform should contact their CCP and the respective CSD to arrange a testing window. The BATS test platform is available during normal business hours http://www.batstrading.co.uk/support/hours/.

Best Practice Guidance on T+2 Settlement
The European Central Bank has established a T2S Task Force on T+2 settlement, which has been working across the T2S membership as well as with other European member states to co-ordinate the move. The Task Force has published a "Best Practice" paper, which can be viewed at the following link: http://www.ecb.europa.eu/paym/t2s/governance/ag/html/taskforcet2/index.en.html

Please contact BATS Post Trade EU, Trade Desk EU 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 a Recognised Investment Exchange regulated by the Financial Conduct Authority.

BATS Chi-X Europe: CERTIFICATION (UAT) test environments - New trading hours effective from Tues 13th May, 2014

April 29, 2014 17:04:43

Dear BATS Chi-X Europe Participants

Effective from Tuesday 13th May, 2014, the BATS Chi-X Europe CERTIFICATION (UAT) test environments' trading hours will operate along the following daily schedules:

BXE & CXE Certification environments

0630 - Session heartbeat connectivity available
0700 - Reference data files available
0800 - Order Entry and ETR submission available
1630 - Order Entry Continuous Trading ceases
1730 - ETR submission ceases
1745 - Session heartbeat connectivity ceases

TRF Certification environment

0630 - Session heartbeat connectivity available
0700 - Reference data files available
0715 - Trade Report submission available
1715 - Trade Report submission ceases
1745 - Session heartbeat connectivity ceases

These changes are being implemented to more closely align CERTIFICATION test environment hours with PRODUCTION hours.

Also, as a reminder, the BXE CERTIFICATION (UAT) test environment is unavailable on Wednesdays. Please note that the CXE and TRF CERTIFICATION test environments will continue to be available for testing as normal on Wednesdays, and may be used for testing during times when the BXE test environment is unavailable. The BXE CERTIFICATION test environment will become available again on the following Thursday morning each week.

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 a Recognised Investment Exchange regulated by the Financial Conduct Authority.

FINAL REMINDER - BATS Chi-X Europe: Upcoming Mandatory Multicast PITCH and TCP PITCH market data feed changes effective Fri 28th March 2014

March 21, 2014 15:03:50

Dear BATS Chi-X Europe Participants

This is the final reminder for the upcoming mandatory BATS Chi-X Europe Production release, effective start of day Friday 28th March 2014:

Q1 Release Guidance Note: http://cdn.batstrading.com/resources/participant_resources/BCE_GuidanceNote_Q1Release_final.pdf

As a reminder, all the changes in this release are currently available for testing in the Certification (UAT) environments.

The upcoming changes impact all BATS Chi-X Europe orderbooks and trade reporting services (BXE, CXE and TRF). All Participants taking Multicast or TCP PITCH must be prepared for these changes from start of day on the effective date.

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 a Recognised Investment Exchange regulated by the Financial Conduct Authority.

REMINDER - BATS Chi-X Europe: Upcoming Mandatory Multicast PITCH and TCP PITCH market data feed changes effective Fri 28th March 2014

March 11, 2014 12:58:06

Dear BATS Chi-X Europe Participants

**New guidance documentation is available to aid participants in their readiness for all the upcoming changes in the Production release, effective start of day Friday 28th March 2014:

Q1 Release Guidance Note: http://cdn.batstrading.com/resources/participant_resources/BCE_GuidanceNote_Q1Release_final.pdf

As a reminder, all the changes in this release, both mandatory and optional are currently available for testing in the Certification (UAT) environments.

*Please note that some existing message types have changed in nature - for full details please refer to the revision history at the bottom of the relevant PITCH specification.*

The upcoming changes impact all BATS Chi-X Europe orderbooks and trade reporting services (BXE, CXE and TRF). All Participants taking Multicast or TCP PITCH must be prepared for these changes from start of day on the effective date.

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 a Recognised Investment Exchange regulated by the Financial Conduct Authority.

REMINDER - BATS Chi-X Europe: BXE CERTIFICATION (UAT) test environment unavailable Wed 5th Mar, 2014

March 04, 2014 14:52:46

Dear BATS Chi-X Europe Participants,

As a reminder, the BXE CERTIFICATION (UAT) test environment will be unavailable tomorrow, Wednesday 5th March 2014, due to scheduled maintenance.

**Participants are advised to disregard any market data received from the BXE CERTIFICATION (UAT) test environment on this day.

Please note that the CXE and TRF CERTIFICATION environments will continue to be available for testing as normal.

The BXE CERTIFICATION test environment will be made available again as normal on Thursday 6th March, 2014.

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 a Recognised Investment Exchange regulated by the Financial Conduct Authority.

BATS Chi-X Europe: BXE CERTIFICATION (UAT) test environment unavailable every Wed starting from 5th March, 2014

February 27, 2014 15:39:48

Dear BATS Chi-X Europe Participants

The BXE CERTIFICATION (UAT) test environment will be unavailable on Wednesdays, starting from Wednesday 5th March, 2014.

Please note that the CXE and TRF CERTIFICATION test environments will continue to be available for testing as normal and may be used for testing during times when the BXE test environment is unavailable.

The BXE CERTIFICATION test environment will become available again on the following Thursday morning each week.

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 a Recognised Investment Exchange regulated by the Financial Conduct Authority.

UPDATE - BATS Chi-X Europe: Upcoming Mandatory Multicast PITCH and TCP PITCH market data feed changes effective Fri 28th March 2014

February 26, 2014 17:33:00

Dear BATS Chi-X Europe Participants

The previously announced mandatory changes to the BXE, CXE and TRF Multicast and TCP PITCH market data feeds, are now live in the Certification (UAT) environments.

*Please note that some existing message types have changed in nature - for full details please refer to the revision history at the bottom of the relevant PITCH specification.*

These same changes will be released in Production effective Friday 28th March 2014. The changes impact all BATS Chi-X Europe orderbooks and trade reporting services (BXE, CXE and TRF). All Participants taking Multicast or TCP PITCH must be prepared for these changes from start of day on the effective date.

Summary of Changes

* Shares field - The Shares field of the Trade Report Message is increasing in length.

* Symbol field - The Symbol field of the Add Order-Long and Trade-Long Messages is increasing in length.

* Off-Book Trade Message - The Off-Book Trade Message will be renamed the Trade Report Message in the specification documentation.

* Off-Book Trade Break Message - The Off-Book Trade Break Message will be removed. It will be replaced by a Modification Indicator of 'C' in the Trade Type Flags field of the Trade Report Message to indicate cancellation of a Trade Report. Furthermore, cancellations of Trade Reports older than 1 week will be possible on the market data feed.

* AUT flag - A new value of 'AUT' (replacing 'BCS') will be possible in the Execution Venue field of the Trade Report Message to indicate an OTC trade executed in an automated manner.

* Transaction Sub-Category flag - A new BATS Specific Transaction Sub-Category flag will be added to the end of the Trade Type Flags field of the Trade Report Message, and is reserved for future use.

* MMT flagging - MMT flags will be added to the Order Executed, Order Executed at Price/Size and Trade Messages.

* New auction messages - Auction Summary and Auction Update Messages will be introduced for the support of auctions.

* Trading Status Message - The Status flag in the Trading Status Message will be expanded to include various new Auction-related values

Reason for changes

These changes are being made in order to provide support for new products and services targeted for launch in 2014, including:

* BXTR v1.2 trade reporting services maintenance release. Functionality will be live as of the effective date of the new specifications.

* Auctions capability. New message types and field enumerations. Launch date and scope of auction rollout to be communicated later in 2014.

Documentation

The updated BATS Chi-X Europe Multicast PITCH (version 6.2) and TCP PITCH (version 4.2) specifications are available here: http://www.batstrading.co.uk/support/#menu-md-specs

Testing

The above market data changes are now available for testing in the Certification (UAT) environments. Test data for the new messages and values will be simulated throughout the day on at least the following instruments:

* For Add Order-Long, Trade-Long Messages, Order Executed, and Trade Messages - ANTOl, RY4Bi, ACp, HEIAa, ABIb, GALPu, BAYNd, VOEv, TODm, TEFe, SCMNz, STBo, AMEASh, COLOBc, EKTABs

* For Trade Report Messages - BLTl, RY4Bi, FPp, INGAa, ABIb, JMTu, BASd, VOEv, ENELm, BBVAe, UCGm, REPe, ROGz, AMEASh, ATCOAs, SDRLo

* For Auction-related Messages - TESTx, MSEp, MVOLl, UNAa, THRb, SAPd, TENm, UHRz, AMSe, ATCOAs, TELo, COLOBc, STERVh, PLSi, VIGv, BESu

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.

Please refer to the Technical Change Calendar which summarises all upcoming major technical changes.

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 a Recognised Investment Exchange regulated by the Financial Conduct Authority.

BATS Chi-X Europe tick size update for 10th February, 2014

February 07, 2014 08:28:18

Dear BATS Chi-X Europe Participants
Effective Monday 10th February 2014, in harmonisation with the listing market's planned tick size update, BATS Chi-X Europe will migrate the following 6 Depository Receipt instruments from table2 to table1:

Description, UMTF Name, ISIN, Currency, MIC, Trading Segment, From Tick Type, To Tick Type
Gazprom OAO, OGZDl, US3682872078, USD, XLON, MTF, table2, table1
MMC Norilsk Nickel OJSC, MNODl, US46626D1081, USD, XLON, MTF, table2, table1
NOVATEK OAO, NVTKl, US6698881090, USD, XLON, MTF, table2, table1
Lukoil OAO, LKODl, US6778621044, USD, XLON, MTF, table2, table1
Rosneft OAO, ROSNl, US67812M2070, USD, XLON, MTF, table2, table1
Sberbank of Russia, SBERl, US80585Y3080, USD, XLON, MTF, table2, table1

These changes will impact both BXE and CXE symbol universes and the updated Symbol Reference Data Files will be available on our website at http://www.batstrading.co.uk/support/.

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.

BATS Chi-X Europe: Upcoming Additions to BXTR Functionality, effective Fri 28th Mar, 2014

January 31, 2014 16:15:14

Dear BATS Chi-X Europe Participants,

This notice highlights upcoming FIX, BOE and data file functionality updates to the BATS Chi-X Europe Trade Reporting Services (BXTR), effective Friday 28th March, 2014.

FIX

* The MTFAccessFee field will be removed from the Trade Capture Report Message in BXE, CXE and TRF environments

* New TrdType field values ('Dark Trade', 'Technical Trade' and 'Give-up / Give-in Trade') for Trade Capture Reports will be added in BXE and CXE environments

BOE

* The AccessFee field will be removed from the Trade Capture Report Message in BXE, CXE and TRF environments

* New TrdType field values ('Dark Trade', 'Technical Trade' and 'Give-up / Give-in Trade') for Trade Capture Reports will be added in BXE and CXE environments

* Large trade support for up to 99,999,999,999 shares will be added to the Trade Capture Report Message in BXE, CXE and TRF environments

Symbol Reference Data Files

* An explicit value of 'E' for Exchange Trade Reports (ETRs) will be added to the supported_services column of the symbol reference data files (http://cdn.batstrading.com/resources/participant_resources/BATS_Europe_Reference_Data.pdf).

Trade Data File

* New MMT related columns ('Market Mechanism', 'Crossing Trade', 'Benchmark Indicator' and 'Ex/Cum Dividend') will be added to the reconciliation Trade Data File (http://cdn.batstrading.com/resources/participant_resources/BATS_Europe_Trade_Data_File.pdf).

Testing

* The above FIX, BOE, Symbol Reference Data file and Trade Data file enhancements will be available in the BXE, CXE and TRF CERTIFICATION environments, effective Tuesday 25th February 2014. The same changes will apply in the PRODUCTION environments, effective Friday 28th March, 2014.

The above changes are reflected in the updated Technical Specifications area of the BATS website and will be reflected in the Technical Change Calendar shortly.

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 a Recognised Investment Exchange regulated by the Financial Conduct Authority.

REMINDER - BATS Chi-X Europe: Upcoming Mandatory Multicast PITCH and TCP PITCH market data feed changes effective Fri 28th March 2014

January 24, 2014 13:30:17

Dear BATS Chi-X Europe Participants

This is a reminder of the upcoming mandatory changes to the BXE, CXE and TRF Multicast and TCP PITCH market data feeds.

*Please note that some existing message types will change in nature - for full details please refer to the revision history at the bottom of the relevant PITCH specification.*

BATS Chi-X Europe would like to highlight forthcoming mandatory changes to its Production Multicast and TCP PITCH market data feeds, effective Friday 28th March 2014. The changes will impact all BATS Chi-X Europe orderbooks and trade reporting services (BXE, CXE and TRF). All Participants taking Multicast or TCP PITCH must be prepared for these changes from start of day on the effective date.

Summary of Changes

* Shares field - The Shares field of the Trade Report Message is increasing in length.

* Symbol field - The Symbol field of the Add Order-Long and Trade-Long Messages is increasing in length.

* Off-Book Trade Message - The Off-Book Trade Message will be renamed the Trade Report Message in the specification documentation.

* Off-Book Trade Break Message - The Off-Book Trade Break Message will be removed. It will be replaced by a Modification Indicator of 'C' in the Trade Type Flags field of the Trade Report Message to indicate cancellation of a Trade Report. Furthermore, cancellations of Trade Reports older than 1 week will be possible on the market data feed.

* AUT flag - A new value of 'AUT' (replacing 'BCS') will be possible in the Execution Venue field of the Trade Report Message to indicate an OTC trade executed in an automated manner.

* Trading Status Message - The Status flag in the Trading Status Message will be expanded to include various new values.

* Transaction Sub-Category flag - A new BATS Specific Transaction Sub-Category flag will be added to the end of the Trade Type Flags field of the Trade Report Message, and is reserved for future use.

* New auction messages - Auction Summary and Auction Update Messages will be introduced for the support of auctions.

* MMT flagging - MMT flags will be added to the Order Executed, Order Executed at Price/Size and Trade Messages.

Reason for changes

These changes are being made in order to provide support for new products and services targeted for launch in 2014, including:

* BXTR v1.2 trade reporting services maintenance release. Functionality will be live as of the effective date of the new specifications.

* Auctions capability. New message types and field enumerations. Launch date and scope of auction rollout to be communicated later in 2014.

Documentation

The updated BATS Chi-X Europe Multicast PITCH (version 6.2) and TCP PITCH (version 4.2) specifications are available here: http://www.batstrading.co.uk/support/#menu-md-specs

Testing

The above market data changes will be made available for testing in the Certification (UAT) environments from Tuesday 25th February 2014.

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.

Please refer to the Technical Change Calendar which summarises all upcoming major technical changes.

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 a Recognised Investment Exchange regulated by the Financial Conduct Authority.

BATS Chi-X Europe: Upcoming changes to BOE functionality effective Fri 31st January 2014

January 17, 2014 12:14:52

Dear BATS Chi-X Europe Participants

Effective Friday 31st January, 2014, BATS Chi-X Europe will make new functionality available for Exchange Trade Reports (ETRs) submitted via the BATS BOE protocol. In addition, the BATS BOE protocol will be extended to BATS Off-Exchange Services.

Summary of changes

* Solicited cancel/amend and delayed publication functionality will be available for ETRs submitted via the BOE optional fields TradeReportTransType and TradePublishIndicator

* Additional MMT flags will be available for ETR submission via BOE. Please refer to section 10 for the full list of optional field types.

* BOE protocol support will be introduced for Off-Exchange Services. This includes the BATS TDM, SI Quote and MTF Services.

Documentation

* On-Exchange BOE spec: http://cdn.batstrading.com/resources/participant_resources/BATS_Europe_Binary_Order_Entry_Specification.pdf

* Off-Exchange BOE spec: http://cdn.batstrading.com/resources/participant_resources/BATS_ChiX_Europe_TRF_BOE_Specification.pdf

Existing Trading Participants using the ETR service via BOE protocol are required to contact the Trade Desk to test the new functionality.

These changes are available for testing in CERTIFICATION with immediate effect.

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

All current and historical BATS Chi-X Europe notices 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 a Recognised Investment Exchange regulated by the Financial Conduct Authority