Schedule Update

UPDATE: BATS Europe Tick Size update for Monday 21st Feb, 2011

February 18, 2011 15:48:15

Dear BATS Europe Participants,

Further to the notice sent out below on Monday 7th February 2011, and subsequent to testing this week it has been discovered that there is a problem in the proposed new Table 2b. Specifically, some of the tick sizes at price level 30,000 and higher do not transition cleanly to the next higher band, as the tick is not divisible into the break point for the new band.

As such, BATS Europe will implement Revised Table 2b for Monday 21st February 2011, as shown below and in the attached flyer.

This revision has no material impact on Monday 21st February 2011, as the table is identical to that previously communicated at the prevailing prices for Milan stocks.

Over the coming weeks, we will be working with other platforms currently utilising Table 2 to ensure any inconsistencies are addressed as soon as possible.

Revised Table 2b, effective 21st February 2011:

Table 2b - All Milan listings

Price Range Tick Size

- - 0.4999 0.0001
0.5 - 0.9995 0.0005
1 - 1.9990 0.0010
2 - 4.9980 0.0020
5 - 9.9950 0.0050
10 - 49.9900 0.0100
50 - 99.9500 0.0500
100 - 499.9000 0.1000
500 - 999.5000 0.5000
1,000 - 4,999.0000 1.0000
5,000 - 9,995.0000 5.0000
10,000 - 19,990.0000 10.0000
20,000 - 39,980.0000 20.0000
40,000 - 49,960.0000 40.0000
50,000 - 79,950.0000 50.0000
80,000 - 99,920.0000 80.0000
100,000+ - 100.0000

These changes will be reflected in the Symbol Reference Data File and Tick Reference Data File as of Monday February 21st 2011.

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