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Update: BATS TCP and Multicast PITCH Specification Update Postponed Until February 15, 2013

December 20, 2012

Effective Friday, February 15, 2013, BATS BZX Exchange, BYX Exchange and BATS Options will begin sending a new message type for both Multicast and TCP PITCH. All Members taking Multicast or TCP PITCH must be prepared to receive the new message type on the effective date. These messages will be sent at startup each day from BATS BZX Exchange, BYX Exchange, and BATS Options. They may also be distributed in certain recovery events such as a data center fail-over. For complete details including the certification environment release schedule, please click on the title.

BATS Updates Retail Price Improvement (RPI) Program Launch Date to January 11 2013

December 14, 2012

In response to Member feedback and end of year change freezes, BYX Exchange has decided to delay the launch of the Retail Price Improvement (RPI) program to Friday, January 11, 2013. Through the BATS RPI program, any BYX Exchange Member may input RPI Orders for a limited set of securities (defined in the RPI Fee Schedule section below) on the BYX Exchange order book that will offer price improvement in $.001 increments to Retail Member Organizations (RMOs, see rule filing for more detail on RMOs) that enter a Retail Order. For complete program details, please click on the title.

Reminder: BATS TCP and Multicast PITCH Specification Update Effective January 18, 2013

December 03, 2012

Effective Friday, January 18, 2013, BATS BZX Exchange, BYX Exchange and BATS Options will begin sending a new message type for both Multicast and TCP PITCH. All Members taking Multicast or TCP PITCH must be prepared to receive the new message type on the effective date. These messages will be sent at startup each day from BATS BZX Exchange, BYX Exchange, and BATS Options. They may also be distributed in certain recovery events such as a data center fail-over. For complete details including the certification environment release schedule, please click on the title.

BATS Announces Retail Price Improvement (RPI) Program Pricing and Updates Launch Date to December 17, 2012

November 29, 2012

BATS BYX Exchange is pleased to announce SEC approval of the Retail Price Improvement Program (RPI). BYX Exchange will introduce support for Retail Price Improving Orders (RPI Orders) on Monday, December 17, 2012. Through the BATS RPI program, any BYX Exchange Member may input RPI Orders for a limited set of securities (click title for full details) on the BYX Exchange order book that will offer price improvement in $.001 increments to Retail Member Organizations (RMOs, see rule filing for more detail on RMOs) that enter a Retail Order. For complete program details, please click on the title.

BATS Risk Based Web Portal Port Controls Available Effective November 26, 2012

November 20, 2012

BATS BYX Exchange, BZX Exchange and BATS Options is pleased to announce the availability of Risk Based Web Portal Port Controls effective Monday, November 26, 2012. These new tools give all Members the ability to make real-time changes to a number of port-level risk attributes through the BATS Member Web Portal. Please click on the title for complete details.

BATS Postpones Support for Retail Price Improvement (RPI) Program to November 30, 2012

November 12, 2012

BATS BYX Exchange is postponing support for Retail Price Improving Orders (RPI Orders) to Friday, November 30, 2012 (pending SEC approval). Through the BATS RPI program, any BYX Exchange Member may input RPI Orders for a limited set of securities (to be defined) on the BYX Exchange order book that will offer price improvement in $.001 increments to Retail Member Organizations (RMOs) that enter a Retail Order. Please click on the title for complete details.

BATS Announces Risk Based Web Portal Port Controls

October 12, 2012

BATS BYX Exchange, BZX Exchange and BATS Options is pleased to announce the availability of Risk Based Web Portal Port Controls effective pending SEC approval. These new tools give all Members the ability to make real-time changes to a number of port-level risk attributes through the BATS Member Web Portal. Please click on the title for complete details.

BATS to Launch Retail Price Improvement (RPI) Program on November 19, 2012

October 10, 2012

Pending SEC approval, BATS BYX Exchange anticipates introducing support for Retail Price Improving Orders (RPI Orders) with a limited set of securities (to be defined) effective Monday, November 19, 2012. Through the BATS RPI program, any BYX Exchange Member may input RPI Orders on the BYX Exchange order book that will offer price improvement in $.001 increments to Retail Member Organizations that enter a Retail Order. Please click the title for complete details.

BATS TCP and Multicast PITCH Specification Update Effective January 18, 2013

September 14, 2012

Effective Friday, January 18, 2013, BATS BZX Exchange, BYX Exchange and BATS Options will begin sending a new message type for both Multicast and TCP PITCH. All Members taking Multicast or TCP PITCH must be prepared to receive the new message type on the effective date. These messages will be sent at startup each day from BATS BZX Exchange, BYX Exchange, and BATS Options. They may also be distributed in certain recovery events such as a data center fail-over. Please click on the title for complete details.

BATS Postpones Support for Multiple Display-Price Sliding to September 12, 2012

September 06, 2012

BATS will enable support for the Multiple Display-Price Sliding opt-in feature effective Wednesday, September 12, 2012 on BATS BYX Exchange, BZX Exchange and BATS Options. Click the title for complete details.

BATS to Enable Support for Multiple Display-Price Sliding Effective September 7, 2012

August 31, 2012

BATS will re-enable support for the Multiple Display-Price Sliding opt-in feature effective Friday, September 7, 2012 on BATS BYX Exchange, BZX Exchange and BATS Options. This feature will be available for Member testing in the BATS certification environments on Wednesday, September 5, 2012.

BATS Introduces Retail Price Improvement (RPI) Program

August 14, 2012

BATS BYX Exchange is pleased to announce that it will be introducing support for Retail Price Improving (RPI) orders (pending SEC approval).

BATS Support for Multiple Display-Price Sliding Available Effective Friday, August 24, 2012

August 08, 2012

BATS is pleased to announce that Multiple Display-Price Sliding has received SEC approval and will be made available on BATS BYX Exchange, BZX Exchange and BATS Options effective Friday, August 24, 2012. For complete details, please click on the title.

BATS Crossed Market Order Handling Enhancements Postponed until Friday, July 6, 2012

June 28, 2012

On June 19, 2012, BATS announced that BATS BZX Exchange, BYX Exchange, and BATS Options Exchange will be introducing a Crossed Market Collar. The effective date for this feature has been postponed until Friday, July 6, 2012.

BATS Announces Crossed Market Order Handling Enhancements Effective June 29, 2012

June 19, 2012

Effective Friday, June 29, 2012, BATS BYX Exchange, BZX Exchange and BATS Options will be introducing a Crossed Market Collar. Additionally, a port level opt-in feature will be made available to Members that will cause new orders to be rejected upon receipt when the market is crossed. Please click title for complete details.

REMINDER: BATS Post Only Order Default Behavior to Change Effective June 8, 2012

June 04, 2012

Effective Friday, June 8, 2012, BATS BYX Exchange, BZX Exchange and BATS Options will be introducing a change to the default behavior of Post Only Orders. On the effective date, Post Only Orders will execute against resting orders if the value of price improvement associated with the execution equals or exceeds the sum of fees charged for the execution plus the value of the rebate that would have been provided if the order posted to the BATS book and subsequently provided liquidity.

BATS Post Only Order Default Behavior to Change Effective June 8, 2012

May 25, 2012

Effective Friday, June 8, 2012, BATS BYX Exchange, BZX Exchange and BATS Options will be introducing a change to the default behavior of Post Only Orders. On the effective date, Post Only Orders will execute against resting orders if the value of price improvement associated with the execution equals or exceeds the sum of fees charged for the execution plus the value of the rebate that would have been provided if the order posted to the BATS book and subsequently provided liquidity.

BATS Announces Trading Group Support for Match Trade Prevention Effective May 25, 2012

May 17, 2012

Effective Friday, May 25, 2012, BATS BYX Exchange, BZX Exchange and BATS Options will be extending Match Trade Prevention (MTP) functionality to allow Member firms to control match prevention at the trading group level. For complete details, please click on the title.

FINAL REMINDER: BATS BZX Equities Testing for 32 Matching Engine Upgrade on Saturday, May 12, 2012

May 11, 2012

BATS BZX Exchange trading platform will be migrating from 12 to 32 Matching Engines. Members will be provided an opportunity to access and test the 32 Matching Engine configuration on the BATS BZX production trading system on Saturday, May 12, 2012, from 9AM to noon ET. Click the title for more information

FINAL REMINDER - BATS BZX Equities Moving to 32 Matching Engines Effective May 14, 2012

May 07, 2012

Please be advised that effective Monday, May 14, 2012, the BATS BZX Exchange trading platform will be migrating from 12 to 32 Matching Engines. Click the title for more information.

FINAL REMINDER - BATS Announces Support for Attributed Quotes Effective May 7, 2012

April 30, 2012

Support for attributed quotes will be made available to Members of BATS BYX Exchange, BZX Exchange and BATS Options effective Monday, May 7, 2012 (pending filing with SEC). On the effective date, Members will be allowed to opt-in to having their TCP and Multicast PITCH quotes attributed to their MPID on an order by order basis. Click the title for more information.

REMINDER - BATS BZX Equities Moving to 32 Matching Engines Effective May 14, 2012

April 27, 2012

Please be advised that effective Monday, May 14, 2012, the BATS BZX Exchange trading platform will be migrating from 12 to 32 Matching Engines. Click the title for more information.

REMINDER - BATS Announces Support for Attributed Quotes Effective May 7, 2012

April 04, 2012

Support for attributed quotes will be made available to Members of BATS BYX Exchange, BZX Exchange and BATS Options effective Monday, May 7, 2012 (pending filing with SEC). On the effective date, Members will be allowed to opt-in to having their TCP and Multicast PITCH quotes attributed to their MPID on an order by order basis. Click the title for more information.

BATS BZX Equities Move to 32 Matching Engines Postponed Until Monday, May 14, 2012

April 02, 2012

On February 29, 2012, BATS announced that BATS BZX Exchange trading platform will be migrating from 12 to 32 Matching Engines effective Monday, April 16, 2012. The effective date for this migration has been postponed until Monday, May 14, 2012. Please click on the title for complete details.

REMINDER - BATS Announces Support for Attributed Quotes Effective May 7, 2012

March 22, 2012

Support for attributed quotes will be made available to Members of BATS BYX Exchange, BZX Exchange and BATS Options effective Monday, May 7, 2012 (pending filing with SEC). On the effective date, Members will be allowed to opt-in to having their TCP and Multicast PITCH quotes attributed to their MPID on an order by order basis. Click the title for more information.

REMINDER - BATS BZX Equities Moving to 32 Matching Engines Effective April 16, 2012

March 21, 2012

Effective Monday, April 16, 2012, the BATS BZX Exchange trading platform will be migrating from 12 to 32 Matching Engines. As a result of this new configuration, Members must be prepared to support updates to BATS BZX Exchange Multicast PITCH that follow on the effective date. Click the title for more information.

BATS Announces Support for Attributed Quotes Effective May 7, 2012

March 07, 2012

BATS is pleased to announce support for attributed quotes will be made available to Members of BATS BYX Exchange, BZX Exchange and BATS Options effective Monday, May 7, 2012 (pending filing with SEC). On the effective date, Members will be allowed to opt-in to having their TCP and Multicast PITCH quotes attributed to their MPID on an order by order basis. Additionally, summarized quote and/or trade activity related to attributed quotes will be made available on the BATS public web site. Please click on the title for complete details.

BATS BZX Equities Moving to 32 Matching Engines Effective April 16, 2012

February 29, 2012

Please be advised that effective Monday, April 16, 2012, the BATS BZX Exchange trading platform will be migrating from 12 to 32 Matching Engines. As a result of this new configuration, Members must be prepared to support updates to BATS BZX Exchange Multicast PITCH that follow on the effective date. Click the title for more information.

FINAL REMINDER - BATS BYX Equities Moving to 32 Matching Engines Effective February 27, 2012

February 21, 2012

Please be advised that effective Monday, February 27, 2012, the BATS BYX Exchange trading platform will be migrating from 12 to 32 Matching Engines. As a result of this new configuration, Members must be prepared to support updates to BATS BYX Exchange Multicast PITCH that follow on the effective date. Click the title for more information.

REMINDER - BATS BYX Equities Moving to 32 Matching Engines Effective February 27, 2012

February 13, 2012

Please be advised that effective Monday, February 27, 2012, the BATS BYX Exchange trading platform will be migrating from 12 to 32 Matching Engines. Click the title for more information.

BATS BYX Equities Moving to 32 Matching Engines Effective February 27, 2012

January 31, 2012

Please be advised that effective Monday, February 27, 2012, the BATS BYX Exchange trading platform will be migrating from 12 to 32 Matching Engines. As a result of this new configuration, Members must be prepared to support updates to BATS BYX Exchange Multicast PITCH that follow on the effective date. Please click on the title for complete details and testing information.

BATS Announces Release of TRIM2 and TRIM3 Routing Strategies Effective February 3, 2012

January 30, 2012

BATS is pleased to announce the availability of 2 new routing strategies based on the existing TRIM strategy. TRIM2 and TRIM3 will be made available effective Friday, February 3, 2012 and will further limit markets accessed to the lowest cost market centers. Please click on the title for complete details.

BATS Support for Multiple Display-Price Sliding Postponed Pending SEC Approval

January 26, 2012

The release of Multiple Display-Price Sliding has been postponed pending SEC approval. BATS will communicate an updated effective date upon SEC approval.

BATS Support for Multiple Display-Price Sliding Postponed Until January 27, 2012

January 18, 2012

BATS Support for Multiple Display-Price Sliding Postponed Until January 27, 2012. Click on the title for more information.

Reminder: BATS Enhancements for US Equities Multicast Latency Feed Effective January 20, 2012

January 13, 2012

The BATS Latency Feed will be enhanced to include mode and percentile based metrics effective Friday, January 20, 2012. Percentiles to be included are 99.9%, 99%, 95%, 90%, 75%, 50%, and 25%. Please click on the title for complete details.

BATS to Introduce Support for Multiple Display-Price Sliding Effective January 20, 2012

January 05, 2012

Effective Friday, January 20, 2012 (subject to filing with the SEC), BATS BYX Exchange, BZX Exchange and BATS Options will be introducing an enhancement to Display-Price Sliding that will allow Display-Price slid orders to continue to have their display and working prices adjusted towards their original limit price based on changes to the prevailing NBBO. For full details, please click on the title.