On Monday, BATS Global Markets (BATS) announced the upcoming roll-out of the BATS One Feed, a market data product that provides cost-effective, high-quality quote and trade information for market participants seeking comprehensive, real-time market data across all of BATS? markets.
According to a press release, the BATS One Feed delivers a unified view of the aggregated quotes (Best Bid and Offer), trades (Last Sale), and optional depth information (5 levels), including size, for all four equity exchanges operated by BATS ? BZX, BYX, EDGX, EDGA. It will have the most comprehensive content of any exchange-provided market data product for real-time market information and it will be offered in the following two versions that allow recipients to select the levels of quote information they wish to receive:
- BATS One Summary Feed (The aggregate top prices across all BATS? exchanges + Last Sale)
- BATS One Premium Feed (Top + Last Sale + 5 levels of aggregate depth)
Both versions will provide aggregated quote and trade updates for the four equities exchanges operated by BATS. The BATS One Premium Feed will also include aggregate depth information (5 levels) for all four exchanges. With one connection protocol and a simple license for all exchanges, the BATS One Feed allows for easy user administration and a streamlined technology interface.
Bryan Harkins, Executive Vice President and Head of U.S. Markets at BATS, said,??The BATS One Feed leverages the size and scale of the combined BATS and Direct Edge organizations and is our first product to showcase the value, competition and cost savings we will be bringing to the industry to benefit all users. As the largest U.S. equities market operator excluding auctions, the BATS One Feed product provides a high-quality, robust view of the U.S. equities market and is ideal for those looking for comprehensive data at a cost-effective price.?
In addition, the BATS One Feed product will be significantly less expensive than similar products on the market. When compared to a similar competitor exchange product, the BATS One Summary Feed is 60% less expensive per professional user, more than 85% less expensive for an enterprise license for professional users, and 50% lower for an enterprise license for non-professional users.
It can be used as a standalone product or as a supplement to other market data products.
The BATS One Feed will be available on August 1, 2014, subject to the Securities and Exchange Commission (SEC) ?and will not become fee liable until October 1, 2014. After that time, interested vendors will receive up to three months free as they integrate the product into their systems and obtain new users.