Fee Schedule

BATS Europe - Updated Pan European Fee Schedule

December 15, 2009 10:23:52

Dear BATS Europe Participants,

From the 4th January 2010, BATS Europe will offer an updated Pan European fee schedule for participants trading equities, ETFs and ETCs on the Integrated Book. Participants removing liquidity will be charged 0.28 bps, while participants adding liquidity be rebated 0.18 bps.

BATS Europe Dark Pool pricing will remain unchanged with a usage charge of 0.15 bps. The BATS Europe Market On Close (MOC) and Trading At Last (TAL) order types will be available at a ZERO charge until further notice.

As a reminder, BATS Europe does not charge for membership, order entry and market data ports or testing.

The BATS Europe pricing schedule can be found at
http://www.batstrading.co.uk/resources/participant_resources/BATSEuro_Pricing_Effective.pdf . All current and historical BATS Europe notices, including fee schedules, are available online at www.batstrading.co.uk/alerts.

For more information, Participants can contact the BATS Europe Trade Desk +44.207.012.8901, [email protected] or their Account Manager .

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

BATS Europe Dark Pool Fee Schedule

October 12, 2009 10:28:20

Dear BATS Europe Participants,

As a reminder from today, October 12th 2009, BATS Europe will offer simplified pricing for its Dark Book. All executions in the BATS Europe Dark Book will be charged 0.15 basis points, the lowest fee of any comparable European Dark Pool.

BATS Europe will continue to offer reduced pricing for the Integrated Book until December 31, 2009, where participants removing liquidity will be charged 0.25 basis points, and participants adding liquidity will be rebated 0.20 basis points.

BATS Europe will also continue to offer inverted pricing on the extended range of ETFs with a rebate of 0.50 bps for adding liquidity and a low remove rate of 0.25 bps.

As always, BATS Europe does not charge for membership, FIX and market data ports or testing.

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

Reminder: BATS Europe October Fee Schedule : 0.25bps to remove until end of 2009

October 06, 2009 08:27:50

Dear BATS Europe Participants,

As a reminder, from the 1st October until the 31st December 2009, BATS Europe is offering a Pan European Pricing Schedule where participants removing liquidity are charged a reduced rate of 0.25 basis points, while participants adding liquidity to the Integrated Book are rebated 0.20 basis points.

BATS Europe continues to offer inverted pricing on the extended range of ETFs with a rebate of 0.50 bps for adding liquidity and a low remove rate of 0.25 bps. Attached is a detailed list of the ETFs with this continued pricing.

We appreciate the support of all the existing and new Participants who were able to participate in the UK pricing special that ended last week. We are equally pleased the pricing special accomplished its goal: to accelerate BATS Europe's already strong growth rate so more market participants realise the operational and cost benefits of the BATS
Europe trading platform.

For more information on BATS Market Statistics, symbol volume and market share please refer to our Market Data site http://www.batstrading.co.uk/market_data/volume/day/

As always, BATS Europe does not charge for membership, FIX and market data ports or testing.

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

BATS Europe October Fee Schedule

September 28, 2009 08:41:57

Dear BATS Europe Participants,

BATS Europe's September inverted pricing special for UK securities ends Wednesday September 30th. We appreciate the support of all the existing and new Participants who were able to participate in the special. We are equally pleased the pricing special accomplished its goal: to accelerate BATS Europe's already strong growth rate so more market participants realise the operational and cost benefits of the BATS Europe trading
platform.

From the 1st October until the 31st December, BATS Europe will offer a Pan European Pricing Special where participants removing liquidity will be charged a reduced rate of 0.25 basis points, while participants adding liquidity to the Integrated Book will be rebated 0.20 basis points.

BATS Europe Dark Pool pricing will remain unchanged at a rebate of 0.1 bps for adding liquidity and a remove rate of 0.25 bps.

BATS Europe will also continue to offer inverted pricing on the extended range of ETFs with a rebate of 0.50 bps for adding liquidity and a low remove rate of 0.25 bps. Attached is a detailed list of the ETFs with this continued pricing.

As always, BATS Europe does not charge for membership, FIX and market data ports or testing.

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

BATS Europe September UK Pricing Special

August 19, 2009 09:19:39

Dear Participants,

BATS Europe is launching an inverted pricing special for UK stocks, beginning 1 September 2009.

BATS Europe will rebate 0.40 bps for adding liquidity and will charge 0.20 bps for removing liquidity in UK stocks for the month of September. As a bonus, Participants whose daily average notional traded in UK stocks on BATS Europe is 50 million or more for the month of September will be charged a special rate of ZERO for ALL liquidity removing trades on UK stocks during the month.

All other BATS Europe pricing will remain unchanged. All ETFs, including UK listed ETFs, will retain the current .50 bps rebate for adding liquidity and .25 bps charge for removing liquidity.

Please note that regulatory surveillance and monitoring is in place at all times for wash trading and other potentially abusive trading practices. All trading activity at BATS Europe is logged and archived for compliance purposes.

BATS Europe remains committed to offering the fastest, most complete, and most flexible order handling through our world-class matching engine. The full list of order types offered by BATS Europe can be found at http://www.batstrading.co.uk/resources/participant_resources/BATSEuro_MarketGuide.pdf.

As always, BATS Europe does not charge for membership, FIX and market data ports or testing.

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

BATS Europe August Fee Schedule

July 24, 2009 14:22:26

Dear BATS Europe Participants,

BATS Europe's June and July inverted pricing schedule ends this month and we appreciate the support of all the existing and new Participants who were able to participate in the special. We are pleased the pricing special accomplished its goal: to accelerate BATS Europe's already strong growth rate so more market participants realise the operational and cost benefits of the BATS Europe trading platform.

As of 3rd August 2009 BATS Europe will revert pricing in the NYSE Euronext indices of CAC 40, AEX and BEL20 to a rebate of 0.2 bps for adding liquidity and to a remove rate of 0.3 bps.

BATS Europe will continue to offer inverted pricing on the extended range of ETFs with a rebate of 0.50 bps for adding liquidity and a low remove rate of 0.25 bps. Attached is a detailed list of the ETFs with this continued pricing.

All other BATS Europe pricing will remain unchanged at a rebate of 0.2 bps for adding liquidity and to a remove rate of 0.3 bps.

As always, BATS Europe does not charge for membership, FIX and market data ports or testing.

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

BATS Europe August Fee Schedule

July 24, 2009 14:22:26

Dear BATS Europe Participants,

BATS Europe's June and July inverted pricing schedule ends this month and we appreciate the support of all the existing and new Participants who were able to participate in the special. We are pleased the pricing special accomplished its goal: to accelerate BATS Europe's already strong growth rate so more market participants realise the operational and cost benefits of the BATS Europe trading platform.

As of 3rd August 2009 BATS Europe will revert pricing in the NYSE Euronext indices of CAC 40, AEX and BEL20 to a rebate of 0.2 bps for adding liquidity and to a remove rate of 0.3 bps.

BATS Europe will continue to offer inverted pricing on the extended range of ETFs with a rebate of 0.50 bps for adding liquidity and a low remove rate of 0.25 bps. Attached is a detailed list of the ETFs with this continued pricing.

All other BATS Europe pricing will remain unchanged at a rebate of 0.2 bps for adding liquidity and to a remove rate of 0.3 bps.

As always, BATS Europe does not charge for membership, FIX and market data ports or testing. The complete Symbol Reference Data File and Tick Reference Data File can be found on our website at http://www.batstrading.co.uk/sales_support/.

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

**REMINDER** BATS Europe Extends Pricing Special through July

June 30, 2009 17:38:40

Dear Participants,

As a reminder for tomorrow, 1st July 2009, BATS Europe is extending of our inverted pricing special for stocks in the NYSE Euronext indices CAC 40, AEX, BEL20 and an extended range of ETFs.

BATS Europe will continue to rebate 0.50 bps of the notional value traded for adding liquidity in CAC 40, AEX and BEL20 stocks and the extended range of ETFs for the entire month of July. The charge for removing liquidity in these stocks has been lowered to 0.25 bps starting July 1.

Attached is a detailed list of the extended range of ETFs.

Please note that regulatory surveillance and monitoring is in place at all times for wash trading and other potentially abusive trading practices. All trading activity on BATS Europe is logged and archived for compliance purposes.

As always, BATS Europe does not charge for membership, FIX and market data ports or testing.

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

BATS Europe Extends Pricing Special through July

June 22, 2009 14:01:52

Dear Participants,

BATS Europe announces the extension of our inverted pricing special for stocks in the NYSE Euronext indices CAC 40, AEX, BEL20 and an extended range of ETFs, through July 2009.

BATS Europe will continue to rebate 0.50 bps of the notional value traded for adding liquidity in CAC 40, AEX and BEL20 stocks and the extended range of ETFs for the entire month of July. The charge for removing liquidity in these stocks has been lowered to 0.25 bps starting July 1.

Attached is a detailed list of the extended range of ETFs.

Please note that regulatory surveillance and monitoring is in place at all times for wash trading and other potentially abusive trading practices. All trading activity on BATS Europe is logged and archived for compliance purposes.

As always, BATS Europe does not charge for membership, FIX and market data ports or testing.

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