BATS EXCHANGE CUTS FEES, INCREASES REBATES

Posted May 1, 2009

KANSAS CITY, Mo. – The BATS Exchange has expanded recent price cuts with a $.0001 per share rebate for removing liquidity that includes all securities, via its opt-in Dark Scan strategy, pending filing with the US Securities and Exchange Commission. The exchange also cut its default routing rate to $.0025, the lowest rate among major market centers.

“BATS Exchange remains focused on offering a simple, but aggressive fee structure so more market participants can enjoy the economic and performance benefits of our world-class matching engine and smart order router,” says Joe Ratterman, Chief Executive Officer of the BATS Exchange.

For stocks traded on BATS Exchange’s displayed market, the firm is simplifying its fee schedule for Tape A, B and C securities with a tightened 1-mil spread, offering a rebate of $.0024 for adding liquidity and a charge of $.0025 for liquidity removal.

BATS is also keeping its “one-under” routing plan in place, charging reduced rates for customers to use its BATS + NASDAQ, BATS + NYSE Arca, and BATS + NYSE Floor order types at $.0029, $.0027 and $.0017, respectively. The complete fee schedule is available at http://www.batstrading.com/resources/regulation/rule_book/BATS_Ex_Proposed_Fee_Schedule.pdf.