Wednesday 27th May 2015
NEWS TICKER: TUESDAY, MAY 26th: The National Settlement Depository (NSD), Russia’s central securities depository, today announced that Alexander Nazarov has been appointed director of research and development Department. Nazarov will be coordinating the issues of product range development and NSD service improvement. His new responsibilities will also include developing the company’s correspondent and international relations - The UK’s Personal Finance Society (PFS) has called for greater control of non-regulated savings and investment activity, by bringing it under ‘the same umbrella’ as regulated advice. PFS chief executive, Keith Richards, said there needs to be greater clarity in the mind of consumers, on the distinction between regulated investment advice and non-regulated activities. The value of bridging loans written in the year ended March 2015 have grown by almost a half on last year’s results, according to Association of Short Term Lenders ASTL's quarterly figures - The UK’s Association of Short Term Lenders (ASTL) has revealed in its quarterly figures that £2.35bn worth of loans were written by members in the year ended March 2015, where the overall loan book expanded by 43%compared to the same period in 2014. While bridging loan applications are still increasing with a 29% year-on-year rise, the figures showed that the pace has slowed from 63% growth. A 19% drop from Q4 2015 to the first quarter of this year was also highlighted, albeit “not considered to be a concern” – According to press reports, Richard Pyman has taken a leave of absence from his role as Chief Executive Officer at Shawbrook Bank due to illness. Pyman, who was appointed as CEO of the challenger bank in April 2014 after joining the group two years before, is taking temporary leave from his role after following medical advice. Pyman’s leave of absence was announced just as the group released its Q1 2015 results; and the bank began to bed down the proceeds from its early-April IPO, which raised £90m. Tom Wood, the lender’s Chief Financial Officer, will be filling in for Richard during his absence as interim Chief Executive Officer, while still continuing his normal role with support from Stephen Johnson - Cordea Savills, the international property investment manager has sold Erneside Shopping Centre, Enniskillen, Northern Ireland on behalf of a corporate pension fund client for £34.25m. The 163,000 sq ft shopping centre comprises 34 retail units and 666 car parking spaces. It is located in the centre of Enniskillen, the largest town in the region, and the dominant retail location. The centre, which is more than 97% let by floor area, is anchored by Marks & Spencer and Next which is currently being extended to include both their fashion and homeware formats. The asset was acquired by the Fund in 1995 and has evolved with two comprehensive phases of extension and remodelling in 1998-2000 and 2006-2008 -

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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