Fee Schedule

Bats Europe: Pricing changes, effective 1st January 2017

October 31, 2016 10:09:05

Dear Bats Europe Participants,

Bats Europe (Bats) would like to inform Participants, Data Recipients and subscribers to Connectivity services of the following changes to trading, connectivity and product fees effective 1st January 2017:
Summary by fee type:

1. Trading

* Changes to Lit Order Book Non-Displayed Add Charge and Dark Order Book Non-IOC fee

* No changes to lit order book displayed pricing

The revised 2017 Trading Price List is available on the Bats Support page and for download at the link below:

http://cdn.batstrading.com/resources/participant_resources/BATSEuro_Pricing_Effective.pdf

2. Physical Connectivity

* A change to the fee for 1Gbps access in LD4 for Participants

* Removal of installation fees for all Participants and non-Participants

* All other fees remain unchanged

3. Logical Connectivity

* FIX, BOE, Drop and GRP/SPIN & TCP PITCH logical ports in the Bats TRF environment (which cover the TDM, SI and MTF services) will be charged independently

* CXE and BXE to remain as a connectivity port set with a single charge

* Participants will no longer receive their first set of ports free

* All other fees remain unchanged

The revised 2017 Connectivity Price List (addressing points 2 and 3 above) is available on the Bats Support page and for download at the link below:

http://cdn.batstrading.com/resources/participant_resources/BATSEuro_ConnPricing_Effective.pdf

4. Market Data - Further to the changes announced on 30th September 2016, Bats is making the following changes:

* Removing the "Trading Application for Non Professional Users Level 1 and Level 2" licence

* Modifying the Non-Display Licence to introduce a model that charges a fee per market. A fee cap is in place when a client uses data in a Non-Display capacity in 11 or more Bats market segments

* Changes to Direct Model - Per End User Fees and Other Licence Fees

The revised 2017 Market Data Price List is available on the Bats Subscribe page and for download at the link below:

http://cdn.batstrading.com/resources/participant_resources/BATSEuro_MDPricing_Effective.pdf

All Market Data Policies and Documentation are available on the Bats Subscribe page
http://www.batstrading.co.uk/subscribe/

5. BXTR Trade Reporting Services

* A change to the fee for on-exchange single party Exchange Trade Reports (ETRs)

* Changes to daily rates for on-exchange Multiparty ETRs

* Changes to the pricing grid for on-exchange Multiparty ETRs

* Changes to the monthly fees for the SI, TDM and MTF services

The revised 2017 BXTR Data Price List is available on the Bats Support page and for download at the link below:

http://cdn.batstrading.com/resources/participant_resources/BATSEuro_BXTRPricing_Effective.pdf

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

Thank you for your continued support.

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

Bats Europe: Market Data Pricing Change Notice, effective 1st January, 2017

September 30, 2016 10:56:44

Dear Bats Europe Participants

Bats Europe (Bats) would like to inform Recipients of the following changes to Distribution Licence Fees and Vendor Model End User Fees,effective 1st January 2017:

FEE TYPES

FREQUENCY / AMOUNT

Distribution Licence Fees

Annual Fee

Real-Time DataFees

 

 

All Markets

Level 1 Real-Time Data

17,000

Level 2 Real-Time Data (IncludingLevel 1)

34,500

 

Unitised, per subset

Level 1 Real-Time Data

5,700

Level 2 Real-Time Data (IncludingLevel 1)

11,500

Distribution Fee for Index Data

01

Display Fees

Monthly Fee

Vendor Model -Per Access Fee

 

Level 1 Real-Time Data

23

Level 2 Real-Time Data

52

Exempt Uses

0

Non-Professional - Level 1 and/orLevel 2 Real-Time Data

0

Display Fee for Index Data

0

1If the Recipient carries out other activities in addition to Distribution of the Index Data, please refer to the Index-related licence documents atwww.indices.batstrading.co.uk.

Please be aware that Bats will communicate a full update to the Market Data Policy and Pricing during the month of October, 2016.

Please contact the Market Data Team if you have any questions.

All current and historical Bats notices are available atwww.batstrading.co.uk/alerts.

Thank you for your continued support.

Trade Desk
Bats 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 Europe: Updated SOR Fee Schedule, effective Monday 3rd October, 2016

September 29, 2016 10:27:46

Dear Bats Europe Participants,

Bats Europe (Bats) would like to inform users of the Bats Smart Order Routing (SOR) facility that, as a result of a recent pricing increase by Euronext, SOR services via Bats to Euronext markets for ETFs and some index securities will be charged at an increased rate of 1.30bps, effective Monday, 3rd October 2016.

There is no change in charges or rebates for Bats BXE and CXE order book executions in Euronext instruments, which are summarised in the Bats Europe Trading Price List.

Please contact your Account Manager if you have any questions.

All current and historical Bats notices, including symbol universe updates, are available online at www.batstrading.co.uk/alerts.

Trade Desk
Bats 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.