BATS Europe, a wholly-owned subsidiary of BATS Global Markets, is going to launch its dark pool in Europe, set for Friday, the 7th of August. The company has reported that the growing multilateral trading facility (MTF) will rebate 0.1 basis points to participants that add liquidity and charge 0.25 basis points to remove liquidity in the dark pool.
Reportedly, the features for orders, such as setting a minimum execution quantity, are included in BATS Europe’s dark pool offering as well as FIX specifications.
The company has claimed that the new dark pool is separate from BATS Europe’s current integrated book, which combines visible and hidden order types. BATS Europe participants can send orders to the dark pool using existing FIX handlers with orders hidden and executed at the midpoint of the best bid and offer on the primary market.
Mark Hemsley, CEO of BATS Europe, said: “Participants will be able to receive rebates on posted liquidity and enjoy low rates for removing liquidity, consistent with our approach of offering first class markets with aggressive fee structures.”
