Monday 6th July 2015
NEWS TICKER: MONDAY, JULY 6TH: Morgan Lewis is enhancing its United Kingdom and global employment law capabilities with the addition of employment investigations and data privacy partner Pulina Whitaker, who joins the firm today from another global law firm. Her arrival, says the firm, strengthens the full suite of global client services offered from the Morgan Lewis London office, including those connected to finance, corporate, energy, funds, and litigation - Leading shares in European bourses will continue to struggle today as investors look for direction from European leaders over their response to the Greek referendum decision yesterday. In Asia, Japan’s Nikkei retreated -2.08% while Hong Kong’s Hang Seng went down by 4% and the Shenzhen Composite down by 4.69%. The Shanghai Composite stabilised around 3,709, up 0.61%, as China Security Finance Corp, the institution which managed short selling and margin trading, will receive a capital boost to 76bn “to maintain financial market stability and expand its business".; it is actually something of a turnaround, as Chinese equities have been under pressure for over a month now. In Australia, equity markets are trading into negative territory with the S&P/ASX down -1.14% while AUD/USD broke to the downside the strong support lying at 0.7533 (low from April 2) and is heading toward the following one at 0.7414 (low from October 2010). Tomorrow, the Reserve Bank of Australia will release its interest rate decision. The US dollar is broadly higher against G10 as only the Japanese yen is adding gains versus USD. German Chancellor Angela Merkel will meet French president François Hollande later today. Greece’s main creditors have more pressures on their shoulders; analysts suggest that they will be more willing to provide significant debt relief measures. The next payment is due to the ECB on July 20th.

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BATS Exchange announces new listings pricing

Thursday, 09 February 2012
BATS Exchange announces new listings pricing BATS Global Markets has unveiled a unique flat pricing model for its primary listings business, including free listings for companies whose stock or exchange traded product (ETP) trades more than 2m shares per day. http://www.ftseglobalmarkets.com/

BATS Global Markets has unveiled a unique flat pricing model for its primary listings business, including free listings for companies whose stock or exchange traded product (ETP) trades more than 2m shares per day.

BATS also announced it will launch its Competitive Liquidity Provider (CLP) program today. The CLP program, designed for BATS’ new US primary listings business and was recently approved by the US Securities and Exchange Commission (SEC). This is a rewards-based program designed to incent market makers to make tighter quoted spreads with increased liquidity for each listing on BATS. The CLP program particularly benefits small and mid-cap companies who are often challenged by a lack of liquidity in their stock, which can make attracting larger investors difficult.

“As we strive to make markets better for issuers today, we’re focused on driving competition and innovation in the U.S. primary markets through new ‘out of the box’ programs and pricing,” says Joe Ratterman, chairman and chief executive officer of BATS Global Markets. “Our aggressive pricing and innovative market maker program will appeal to small and mid-cap companies looking to grow, while larger companies will be attracted to our no-fee listing model. All issuers, regardless of size, will benefit from BATS’ world-class customer support and technology.”



With its unique flat approach to both initial and annual fees, the BATS Listings fee schedule provides a competitive offering for issuers of all sizes. Breaking the mold when compared to traditional pricing models, BATS’ listing fees are not based on a company’s shares outstanding and BATS does not charge for the listing of additional shares.

For companies and ETPs listed on another exchange and interested in transferring their listing to BATS, the initial fee will be waived. Issuers whose stock or ETP trades more than 2m shares per day will not be charged an annual fee.

BATS Listings Fee Schedule Highlights:

  Corporate – Tier I Corporate – Tier II ETP
Initial Fee  (waived for transfers) $100,000 $50,000 $10,000
Annual Fee – CADV* Less than 2M shares $35,000 $20,000 $35,000
Annual Fee – CADV Greater than 2M shares No charge No charge No charge

*CADV = Consolidated Average Daily Volume      

The complete BATS Listings Standards and Fee Schedule is available on the BATS Listings website.

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