Tradedesk Updates

BATS Introduces Sponsored Access Secure Web API

December 17, 2009

BATS Exchange is excited to announce an innovative enhancement to our Sponsored Access Risk Management Tools. Effective immediately, BATS is making available a new Sponsored Access Secure Web API as well as enhanced Order by Order FIXDROP functionality. For complete release notes, click here.

Reminder: BATS Removal of Side Indicator on PITCH Trade Message Effective Monday, December 7th

December 03, 2009

Effective Monday, December 7th, BATS Exchange will begin marking all PITCH (TCP and Multicast) Trade Messages with a side of 'B'. As a result, there will be no distinction of the "side" for these trades. For complete release notes, click here.

BATS Notice: Support for When Issued/When Distributed Securities

December 01, 2009

Effective Wednesday, December 2, 2009, BATS will allow trading in all
classes of the following subordinate issue categories:

* When Issued
* When Distributed

For complete release notes, click here.

BATS Removal of Side Indicator on PITCH Trade Message Postponed Until Monday, December 7th

November 19, 2009

Based on member feedback, BATS Exchange has decided to postpone the change to mark all PITCH (TCP and Multicast) Trade Messages with a side of 'B'. The PITCH Trade Message indicates a trade (hidden or routed) that was not associated with a displayed order on the BATS book. This change, originally scheduled to be effective Monday, November 23rd, has been postponed until Monday, December 7th to allow members additional time to prepare for this change. For complete release notes, click here.

BATS Removes Side Indicator on PITCH Trade Message

November 16, 2009

Effective Monday, November 23rd, BATS Exchange will begin marking all PITCH (TCP and Multicast) Trade Messages with a side of 'B'. As a result, there will be no distinction of the "side" for these trades. For complete release notes, click here.

BATS Expands Footprint with Savvis in the U.S. and Europe

October 23, 2009

BATS is excited to announce our expansion within the Savvis Weehawken data center to support current business growth and the launch of both the BATS U.S. Equity Options Exchange (announced July 8, 2009) (announced July 8, 2009) and second U.S. Equities Exchange (BYX) (announced on September 17, 2009) in early 2010. For complete release notes, click here.

BATS Multicast PITCH Now Available on TNS Secure Trading Extranet

October 23, 2009

BATS is pleased to announce the immediate availability of BATS Multicast PITCH real-time depth of book data feed via TNS' Secure Trading Extranet. For complete release notes, click here.

BATS Exchange Modifies Clearly Erroneous Executions Rule

October 01, 2009

On September 28, 2009, BATS Exchange filed a proposal to amend Exchange Rule 11.17, entitled Clearly Erroneous Executions. This proposal will become operative on Monday, October 5, 2009. For complete release notes, click here.

BATS Multicast PITCH Now Available on BT Radianz' Financial Extranet

September 22, 2009

BATS is pleased to announce the immediate availability of BATS Multicast PITCH real-time depth of book data feed on BT Radianz' Financial Extranet. For complete release notes, click here.

BATS to Launch Second Exchange (BYX) in 2010

September 17, 2009

As you may have already heard, and we are excited to announce, BATS is in the process of filing with the SEC to operate a second equities exchange. Our new exchange, which will be called BYX (short for BATS Y-Exchange, Inc.), will allow BATS to offer even more choices to the industry in our continued effort to make markets better for all market participants. For complete release notes, click here.

BATS Exchange Introduces Real-Time BATS Europe MTF Market Data

September 08, 2009

BATS Exchange is pleased to announce that effective immediately, existing Members and Market Data Vendors with connectivity to our primary datacenter will have access to real-time BATS Europe MTF market data redistributed by the Exchange. For complete release notes, click here.

REMINDER: BATS to Cease Offering BOLT Effective September 1, 2009

August 28, 2009

As announced on August 6, 2009, BATS Exchange will cease offering the BOLT order type effective Tuesday, September 1, 2009, to allow the Securities and Exchange Commission time to perform a thorough analysis of flash order types to determine their impact on the US equities market. For complete release notes, click here.

Impact of BATS BOLT Ceasing to Order Entry and Market Data Messaging

August 13, 2009

Per the August 6, 2009 notice, BATS Exchange will cease offering the BOLT order type effective September 1, 2009 to allow the Securities and Exchange Commission time to perform a thorough analysis of flash order types to determine their impact on the US equities market. As a result, it is important for members and market data participants to understand the affect this will have to existing order entry (FIX) and market data feeds (TCP PITCH, TCP FAST PITCH, Multicast PITCH and TOP). For complete release notes, click here.

BATS to Cease Offering BOLT Effective September 1, 2009

August 06, 2009

BATS Exchange will cease offering the BOLT order type effective September 1, 2009 to allow the Securities and Exchange Commission time to perform a thorough analysis of flash order types and their impact on the US equities market. For complete release notes, click here.

BATS Introduces Innovative Real-Time Ports Dashboard

July 27, 2009

BATS is pleased to announce the immediate availability of an enhanced Member Dashboard that now includes a new real-time Ports display feature. This new innovative feature allows for authorized members to view detailed information about their firm's port utilization. For complete release notes, click here.

BATS Member Match Trade Prevention (MMTP) Release Moved to Monday, July 20, 2009

July 16, 2009

BATS has moved the release date of Member Match Trade Prevention (MMTP) from Friday, July 17, 2009, to Monday, July 20, 2009. Members can continue to test the MMTP functionality in the BATS certification environment Friday in preparation for the production release Monday. For complete release notes, click here.

BATS Notice: Market Orders will be Rejected Outside Core Hours effective Friday, July 24th, 2009

July 16, 2009

Pending approval of a rule filing with the SEC, market orders (FIX Tag 40=1) will only be accepted at BATS during the core session hours (9:30AM - 4PM ET) effective Friday, July 24th, 2009. For complete release notes, click here.

BATS Introduces Member Match Trade Prevention (MMTP)

July 10, 2009

BATS is pleased to announce Member Match Trade Prevention (MMTP), functionality which allows Members to avoid unintentionally trading with themselves on BATS Exchange. For complete release notes, click here.

BATS Extends Cancel/Replace Functionality

June 29, 2009

Subject to an immediately effective rule filing with the SEC, based on feedback from Members, effective Thursday, July 2nd, BATS will extend its existing FIX Order Cancel/Replace functionality to allow for modification of Side (Tag 54) from Short Sell (5) to Long Sell (2) or vice versa. http://www.batstrading.com/resources/release_notes/2009/BATS-Extends-Cancel-Replace-Functionality.pdf

BATS Reduces Latency Yet Again

June 16, 2009

Thanks to feedback from Members and statistics we've gathered internally, we believe BATS remains the fastest exchange platform on the planet. In addition to seeking to provide our Members with the most diversified and flexible tools for the handling of their orders, as part of the BATS culture, our technology team is always looking to improve
the performance of the core BATS system. For complete release notes, click here.

BATS Multicast PITCH available in Certification

June 03, 2009

BATS Exchange is pleased to announce that Multicast PITCH, including the Gap Request Proxy (GRP) and Spin Server, is now available in our Certification environment. For complete release notes, click here.

BATS BOLT Impact to Market Data Messaging

May 27, 2009

Please be advised that with the introduction of BOLT (BATS Optional Liquidity Technology), recipients of TCP PITCH 1.0 and Multicast PITCH 2.0 can choose whether to respond to minor changes in the TCP PITCH 1.0 and Multicast PITCH 2.0 specifications. These market data specification changes will be effective the day BOLT goes live, Friday, June 5th, 2009. For complete release notes, click here.

BATS Introduces BOLT Order Type effective Friday, June 5th, 2009

May 26, 2009

BATS is pleased to announce BOLT (BATS Optional Liquidity Technology), which will be released into the BATS system for use effective Friday, June 5th, 2009. For complete release notes, click here.

REMINDER: BATS Extends Trading Hours to 5PM ET on Tuesday, May 26th, 2009

May 22, 2009

BATS will be extending trading hours until 5PM ET on Tuesday, May 26th,
2009. For complete release notes, click here.

BATS Introduces Aggressive Smart Routing Strategy (RECYCLE)

May 19, 2009

BATS is pleased to announce a new routing strategy, RECYCLE, effective Friday, May 22nd, 2009. RECYCLE is designed to aggressively re-route an order which is locked or crossed by another market center's quote. For complete release notes, click here.

BATS Notice: Effective Date Changed for Extended Trading Hours to Tuesday, May 26th, 2009

May 15, 2009

The effective date for extended hours trading on BATS has been delayed pending approval of a rule filing with the SEC. We expect to receive approval shortly and are currently planning to move forward with extended trading hours until 5PM ET starting Tuesday, May 26th, 2009. For complete release notes, click here.

REMINDER: BATS Extends Trading Hours until 5PM ET Effective Monday, May 18th, 2009

May 13, 2009

BATS is pleased to announce the extension of trading hours until 5PM ET starting Monday, May 18th, 2009. For complete release notes, click here.

BATS Extends Trading Hours Effective Monday, May 18th, 2009

May 08, 2009

BATS is pleased to announce the extension of trading hours until 5PM ET starting Monday, May 18th, 2009. For complete release notes, click here.

BATS Notice: Tag 1 (Account) Available via FIX DROP

April 28, 2009

BATS is pleased to announce that effective immediately, members may opt-in to receive Tag 1 (Account) via FIX DROP. For complete release notes, click here.

BATS PITCH Trade Break Enhancement - Final Reminder and Testing Opportunity

April 27, 2009

This is a friendly reminder that per the "BATS Trade Break Enhancement" notice distributed on February 19, 2009, BATS plans to start sending Trade Break messages within TCP PITCH 1.0 and FAST PITCH 1.0 on Friday, May 1, 2009. For complete release notes, click here.

REMINDER: PITCH Trade Break Enhancement Scheduled for May 1, 2009

April 20, 2009

This is a friendly reminder that per the "BATS Trade Break Enhancement" notice distributed on February 19, 2009, BATS plans to start sending Trade Break messages within TCP PITCH 1.0 and FAST PITCH 1.0 on Friday, May 1, 2009. For complete release notes, click here.

REMINDER: PITCH Trade Break Enhancement Scheduled for May 1, 2009

April 08, 2009

This is a friendly reminder that per the "BATS Trade Break Enhancement" notice distributed on February 19, 2009, BATS plans to start sending Trade Break messages within TCP PITCH 1.0 and FAST PITCH 1.0 on Friday, May 1, 2009. For complete release notes, click here.

REMINDER: PITCH Trade Break Enhancement Scheduled for May 1, 2009

March 27, 2009

This is a friendly reminder that per the "BATS Trade Break Enhancement" notice distributed on February 19, 2009, BATS plans to start sending Trade Break messages within TCP PITCH 1.0 and FAST PITCH 1.0 on Friday, May 1, 2009. For complete release notes, click here.

BATS Introduces Enhanced Sponsored Access Tools

March 13, 2009

BATS is excited to announce the release of enhanced Sponsored Access Tools effective immediately. These new tools will allow Sponsoring Members to more effectively monitor and control Sponsored Participant trading in real-time on the BATS Exchange. For complete release notes, click here.

BATS Introduces "Partial Post Only at Limit" Order Type

February 24, 2009

Pending SEC approval, effective Friday, February 27, 2009, BATS is pleased to announce the release of a new order type called "Partial Post Only at Limit" that allows members to better control their aggressiveness and trading economics on BATS. For complete release notes, click here.

BATS Trade Break Message Enhancement

February 19, 2009

On Friday, February 27th, 2009, BATS will make Trade Break messages available via FIX and FIX DROP on an opt-in basis. For complete release notes, click here.

BATS Introduces Stub Quotes for Market Makers

February 19, 2009

Monday, February 23rd, 2009, Registered Market Makers of BATS Exchange will be able to utilize Exchange functionality to automatically generate stub quotes for securities in which they have registered as a Market Maker. For complete release notes, click here.

REMINDER: Spin Server Release Friday, February 13, 2009

February 11, 2009

Effective, February 13th, 2009, BATS will introduce a new open order replay service for Multicast PITCH that allows members to rapidly catch up to the current state if they miss messages due to network connection problems. For complete release notes, click here.

BATS Minimum Price Reduced to $0.0001 Effective Friday, January 23rd, 2009

January 20, 2009

BATS will reduce its minimum order price from $0.01 to $0.0001 effective Friday, January 23rd, 2009. For complete release notes, click here.

BATS Supports Directed ISOs to NASDAQ BX

January 16, 2009

Effective today, in conjunction with NASDAQ BX going live, BATS supports directed ISOs to NASDAQ BX by setting FIX tags 9303=K, 18=f, and 59=3. For complete release notes, click here.

REMINDER: BATS Market Order Threshold Effective Friday, January 16th, 2009

January 15, 2009

Please be advised that effective Friday, January 16, 2009, BATS Exchange will be introducing system functionality that will cancel any portion of a market order submitted to the Exchange (a "BATS market order") that would execute at a price that is $0.50 or 5% worse than the NBBO at the time the order initially reaches the Exchange, whichever is greater. For complete release notes, click here.

REMINDER: FIX Tag 58 Functionality Change on Friday, January 16th

January 14, 2009

During BATS transition from ECN to Exchange, we added the temporary capability for FIX Fills or Partial Fills to contain "ECN" or "EXCH" in FIX Tag 58 to identify the system a given order was filled upon. For complete release notes, click here.

BATS Market Order Threshold Effective Friday, January 16th, 2009

January 12, 2009

Please be advised that effective Friday, January 16, 2009, BATS Exchange will be introducing system functionality that will cancel any portion of a market order submitted to the Exchange (a "BATS market order") that would execute at a price that is $0.50 or 5% worse than the NBBO at the time the order initially reaches the Exchange, whichever is greater. For complete release notes, click here.

REMINDER: FIX Tag 58 Functionality Change

January 07, 2009

During BATS transition from ECN to Exchange, we added the temporary capability for FIX Fills or Partial Fills to contain "ECN" or "EXCH" in FIX Tag 58 to identify the system a given order was filled upon. For complete release notes, click here.

REMINDER: BATS Introduces Multicast PITCH (BETA) on Monday, January 12th

January 06, 2009

BATS Exchange is pleased to announce that a BETA release of Multicast PITCH will be made available on Monday, January 12th, 2009. For complete release notes, click here.