TRF Release Notes

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Last Updated 04:48:47 GMT

REMINDER: Bats Europe: Mandatory Q2 2017 Exchange Release - Upcoming Changes, effective Fri 14th July 2017

June 26, 2017 12:29:56

Dear Bats Europe Participants

Bats Europe (Bats) would like to remind Participants of the Q2 2017 Exchange Release effective in the PRODUCTION environments on Friday, 14th July 2017.
In addition, Participants should note that there will be a Change Freeze in place between 10th July and 17th July. Participants wishing to order new ports must submit requests by 16:00 UK time on 7th July.
As previously announced, please note there are mandatory protocol-level (FIX, BOE, PITCH, DROP) interface changes in the Bats BXE, CXE and Trade Reporting Facility (TRF) environments in this release.
Participants using these services are urged to contact the Trade Desk to arrange certification as soon as possible.

The changes in this release constitute the main functional changes to real-time protocols for 2017, which are considered mandatory for MiFIR and MiFID II (collectively "MiFID II") compliance and MMT v3 adherence. They are in addition to previous exchange releases which included MiFID II-related content. Bats' MiFID II implementation milestones can be found here. Participants are advised to check this resource regularly for Bats' upcoming MiFID II milestones.

Specifically, these changes are being made to provide support for:

* further features related to MiFIR and MiFID II (collectively "MiFID II") compliance

* fields that have been added and updated in order to align with the FIX Trading Community standard

* MMT v3, as published by FIX Trading Community

* new Bats fee codes which describe the category of fee applicable to trades on Bats BXE, CXE and TRF platforms

This release incorporates a series of significant mandatory enhancements:

* Support for MMT v3 in the Bats market data feeds and trade reporting products
* Update of FIX, BOE and Identifier Management Application fields for RTS 24 Order Record Keeping
* Order Capacity and Liquidity Provision designation will now be mandatory

* Order Capacity will no longer be used to determine which Central Counterparty (CCP) Account Type prefix to use in Account field

* Support for Short Sale specifications
* Addition of Waiver Type indicator
* LastMkt supplied by default on executions
* Support for publication of trades in unknown symbology on Market Data Feeds
* FIX timestamps in microseconds by default
Please consult the 2017 Q2 Exchange Release Guidance Note for the complete list of mandatory changes.

Testing & Production

All features described above will be made available in Production environments on Friday, 14th July 2017, and are available now in BXE, CXE and TRF Certification environments.

DOCUMENTATION

* Bats MiFID II implementation milestones: https://www.bats.com/europe/equities/regulation/mifid/milestones/

* Q2 2017 Exchange Release Guidance Note: http://cdn.batstrading.com/resources/participant_resources/BCE-GuidanceNote-Q22017Release_Final.pdf

* BXE/CXE FIX: http://cdn.batstrading.com/resources/participant_resources/BATS_Europe_FIX_Specification_Effective.pdf

* BXE/CXE BOEv2: http://cdn.batstrading.com/resources/participant_resources/BATS_Europe_BOE2_Specification_Effective.pdf

* TRF FIX: http://cdn.batstrading.com/resources/participant_resources/BATS_ChiX_Europe_TRF_FIX_Specification_Effective.pdf

* TRF BOE v2: http://cdn.batstrading.com/resources/participant_resources/BATS_Europe_BOE2_Specification_Effective.pdf

* TCP PITCH: http://cdn.batstrading.com/resources/participant_resources/BATS_Europe_PITCH_Specification_Effective.pdf

* MC PITCH: http://cdn.batstrading.com/resources/participant_resources/BATS_Europe_MC_PITCH_Specification_Effective.pdf

* MiFID II Identifier Management: http://cdn.batstrading.com/resources/participant_resources/BATS_Europe_MiFID2_Identifier_Management_Specification.pdf

* Trade Data File: http://cdn.batstrading.com/resources/participant_resources/BATS_Europe_Trade_Data_File_Effective.pdf

* Trade Detail File: http://cdn.batstrading.com/resources/participant_resources/BATS_Europe_Trade_Detail_File_Effective.pdf

* Trading Price List: http://cdn.batstrading.com/resources/participant_resources/BATSEuro_Pricing.pdf

* Technical Change Calendar: http://cdn.batstrading.com/resources/participant_resources/BATS_Change_Calendar.pdf

* Previous MiFID II Exchange Releases:

o Q4 2016 Exchange Release Guidance Note: http://cdn.batstrading.com/resources/participant_resources/BCE-GuidanceNote-Q42016Release_Final.pdf

o Q2 2016 Exchange Release Guidance Note: http://cdn.batstrading.com/resources/participant_resources/BCE-GuidanceNote-Q22016Release_Final.pdf

Please contact the Trade Desk or your Account Manager if you have any questions.

All current and historical Bats Europe notices, including symbol universe updates, are available online at https://www.bats.com/europe/equities/notices/release_notes/.

Trade Desk,
Bats Europe, a CBOE company
Phone: +44 20 7012 8901
Email: TradeDeskEurope@bats.com
www.bats.com
* Bats Trading Limited is a Recognised Investment Exchange regulated by the Financial Conduct Authority.

Bats Europe: Periodic Auctions Order Book - Introduction of Broker Preferencing and Change to Symbol Reference File, effective 28th July 2017

June 16, 2017 15:29:16

Dear Bats Europe Participants,

Bats Europe is pleased to introduce a new optional Broker Preferencing feature for the Periodic Auction Book which adds the Broker to the allocation priority algorithm. Introduction of the feature, subject to the satisfactory completion of a Participant consultation, is expected to be effective Friday 28th July 2017. Please see below for a link to the Participant Notice containing the consultation.

Additionally, the existing minimum duration per auction will be replaced by a new mandatory maximum auction duration time interval. To support this, the "periodic_auction_min_duration" column of the Live Symbol Reference Data files will be renamed to "periodic_auction_max_duration". Current values per symbol will not change.

Summary of the upcoming changes:

Broker Preferencing (opt-in)

Broker Preferencing can be enabled at the port level so that orders submitted to the Periodic Auctions Book will be executed in priority against each other at the Execution Allocation phase. The Periodic Auctions Book algorithm comprises of two steps - Price Determination followed by Execution Allocation. Broker Preferencing will take effect at the Execution Allocation point and will move the allocation priority from Price x Size x Time to Broker x Price x Size x Time for all orders submitted to the Periodic Auctions Book with this attribute.

Technical Implementation

* Participants that would like to enable Broker Preferencing on their order entry ports should contact the Trade Desk.

Change from Minimum Duration to Maximum Duration (mandatory)

The maximum duration feature helps inform Participants how long they can rest orders on the Periodic Auction Book in order to have at least one potential auction match. To be able to provide a fully randomised auction match time up to a specified maximum duration, the 'periodic_auction_min_duration' column will be replaced with 'periodic_auction_max_duration' in the Bats Reference Data and CSV file. The max duration indicates the maximum duration of the auction, expressed in milliseconds, which is inclusive of the randomised end time. The auction will end at a randomised time up until the max duration.

***Please note, only the column heading 'periodic_auction_min_duration' will change to 'periodic_auction_max_duration'. The values per symbol will remain unchanged.***

Testing

* Broker Preferencing can be enabled upon request to the Trade Desk on a per port basis in BXE UAT effective immediately.

* The Maximum Duration change is mandatory and will be available for testing in the Certification (UAT) Live Symbols files effective Monday 24th July 2017.

Pricing

* There are no changes to pricing; review all current price lists here.

Related Documentation
Bats Reference Data and CSV file links
Periodic Auctions Guidance Note
Bats Technical Specifications
Participant Notice 17/02

Please contact the Trade Desk or your Account Manager if you have any questions.

All current and historical Bats Europe notices, including symbol universe updates, are available online at www.batstrading.co.uk/alerts.
Trade Desk,
Bats Europe, a CBOE company
Phone: +44 20 7012 8901
Email: TradeDeskEurope@bats.com
www.bats.com
* Bats Trading Limited is a Recognised Investment Exchange regulated by the Financial Conduct Authority.

UPDATE: Bats Europe: Mandatory Q2 2017 Exchange Release - Upcoming Changes, effective Fri 14th July 2017

June 05, 2017 15:06:39

Dear Bats Europe Participants

Bats Europe (Bats) would like to highlight clarifications made to the FIX and BOE specifications for BXE, CXE and TRF environments for the Q2 2017 Exchange Release effective in the PRODUCTION environments Friday, 14th July 2017.
Please see the 2017 Q2 Exchange Release Guidance Note for the complete list of mandatory changes and updates. These updates include:

* MMT v3 changes (see section 2.7 of the 2017 Q2 Exchange Release Guidance Note). These changes are as a result of reviewing Bats MMT v3 implementation against the RTS 1 Decision Tree produced by the FIX MiFID Transparency Subgroup (note this is in draft format). This details usage of the post trade transparency flags to satisfy ESMA requirements as per RTS 1 guidelines:

* Further guidance for MMT v3 flagging of BENC, PRIC, NPFT and TNCP trades

* MMT Input/Output Guidance section has been updated :

o with separate tables for on-exchange and off-exchange usage to aid readability

o to clarify the on-exchange inbound values which drive PRIC value on outbound market data

o to remove RPRI on-exchange as a valid value

o to remove NPFT off-exchange as a valid value

* MiFID II changes:

* Addition of a new value '0' (Default) for OrderOrigination

* PartyRoleQualifier and BOE equivalents no longer mandatory for reserved short code IDs

* Increased range of valid short code values to 4,294,967,295

* MiFID II Identifier Management Application has been enhanced to support programmatic upload and download via an API

As previously announced, please note there are mandatory protocol-level (FIX, BOE, PITCH, DROP) interface changes in the Bats BXE, CXE and Trade Reporting Facility (TRF) environments in this release, and as such participants using these services are urged to contact the Trade Desk to schedule in a certification test as soon as possible.

The changes in this release constitute the main functional changes to real-time protocols for 2017, which are considered mandatory for MiFIR and MiFID II (collectively "MiFID II") compliance and MMT v3 adherence. They are in addition to previous exchange releases which included MiFID II-related content. Bats' MiFID II implementation milestones can be found here. Participants are advised to check this resource regularly for Bats' upcoming MiFID II milestones.

Specifically, these changes are being made to provide support for:

* further features related to MiFIR and MiFID II (collectively "MiFID II") compliance

* fields that have been added and updated in order to align with the FIX Trading Community standard

* MMT v3, as published by FIX Trading Community

* new Bats fee codes which describe the category of fee applicable to trades on Bats BXE, CXE and TRF platforms

This release incorporates a series of significant mandatory enhancements:

* Support for MMT v3 in the Bats market data feeds and trade reporting products
* Update of FIX, BOE and Identifier Management Application fields for RTS 24 Order Record Keeping
* Order Capacity and Liquidity Provision designation will now be mandatory

* Order Capacity will no longer be used to determine which Central Counterparty (CCP) Account Type prefix to use in Account field

* Support for Short Sale specifications
* Addition of Waiver Type indicator
* LastMkt supplied by default on executions
* Support for publication of trades in unknown symbology on Market Data Feeds
* FIX timestamps in microseconds by default
Please consult the 2017 Q2 Exchange Release Guidance Note for the complete list of mandatory changes.

Testing & Production

All features described above will be made available in Production environments on Friday, 14th July 2017, and in Certification environments according to the below schedule:

Environment

MMT v3 inbound order handler availability *

MMT v3 outbound market data mandatory *

MiFID II availability *

Fee Codes *

BXE UAT

7th March

7th March

7th March

7th March

CXE UAT

13th June

13th June

13th June

7th March

TRF UAT

7th March

7th March

7th March

7th March

*see 2017 Q2 Exchange Release Guidance Note for list of MMTv3, MiFID II and Fee Code changes

DOCUMENTATION

* Bats MiFID II implementation milestones: https://www.bats.com/europe/equities/regulation/mifid/milestones/

* Q2 2017 Exchange Release Guidance Note: http://cdn.batstrading.com/resources/participant_resources/BCE-GuidanceNote-Q22017Release_Final.pdf

* BXE/CXE FIX: http://cdn.batstrading.com/resources/participant_resources/BATS_Europe_FIX_Specification_Effective.pdf

* BXE/CXE BOEv2: http://cdn.batstrading.com/resources/participant_resources/BATS_Europe_BOE2_Specification_Effective.pdf

* TRF FIX: http://cdn.batstrading.com/resources/participant_resources/BATS_ChiX_Europe_TRF_FIX_Specification_Effective.pdf

* TRF BOE v2: http://cdn.batstrading.com/resources/participant_resources/BATS_Europe_BOE2_Specification_Effective.pdf

* TCP PITCH: http://cdn.batstrading.com/resources/participant_resources/BATS_Europe_PITCH_Specification_Effective.pdf

* MC PITCH: http://cdn.batstrading.com/resources/participant_resources/BATS_Europe_MC_PITCH_Specification_Effective.pdf

* MiFID II Identifier Management: http://cdn.batstrading.com/resources/participant_resources/BATS_Europe_MiFID2_Identifier_Management_Specification.pdf

* Trade Data File: http://cdn.batstrading.com/resources/participant_resources/BATS_Europe_Trade_Data_File_Effective.pdf

* Trade Detail File: http://cdn.batstrading.com/resources/participant_resources/BATS_Europe_Trade_Detail_File_Effective.pdf

* Trading Price List: http://cdn.batstrading.com/resources/participant_resources/BATSEuro_Pricing.pdf

* Technical Change Calendar: http://cdn.batstrading.com/resources/participant_resources/BATS_Change_Calendar.pdf

* Previous MiFID II Exchange Releases:

o Q4 2016 Exchange Release Guidance Note: http://cdn.batstrading.com/resources/participant_resources/BCE-GuidanceNote-Q42016Release_Final.pdf

o Q2 2016 Exchange Release Guidance Note: http://cdn.batstrading.com/resources/participant_resources/BCE-GuidanceNote-Q22016Release_Final.pdf

Please contact the Trade Desk or your Account Manager if you have any questions.

All current and historical Bats Europe notices, including symbol universe updates, are available online at https://www.bats.com/europe/equities/notices/release_notes/.

Trade Desk,
Bats Europe, a CBOE company
Phone: +44 20 7012 8901
Email: TradeDeskEurope@bats.com
www.bats.com
* Bats Trading Limited is a Recognised Investment Exchange regulated by the Financial Conduct Authority.

REMINDER: Bats Europe: Mandatory Q2 2017 Exchange Release - Upcoming Changes, effective Fri 14th July 2017

May 19, 2017 14:15:03

Dear Bats Europe Participants

Bats Europe (Bats) would like to remind Participants of the mandatory Q2 2017 Exchange Release which takes effect in the PRODUCTION environments Friday, 14th July 2017.

Please note there are mandatory protocol-level (FIX, BOE, PITCH, DROP) interface changes in the Bats BXE, CXE and Trade Reporting Facility (TRF) environments in this release, and as such participants using these services are urged to contact the Trade Desk to schedule in a certification test as soon as possible.

The changes in this release constitute the main functional changes to real-time protocols for 2017, which are considered mandatory for MiFIR and MiFID II (collectively "MiFID II") compliance and MMT v3 adherence. They are in addition to previous exchange releases which included MiFID II-related content. Bats' MiFID II implementation milestones can be found here. Participants are advised to check this resource regularly for Bats' upcoming MiFID II milestones.

Specifically, these changes are being made to provide support for:

* further features related to MiFIR and MiFID II (collectively "MiFID II") compliance

* fields that have been added and updated in order to align with the FIX Trading Community standard

* MMT v3, as published by FIX Trading Community

* new Bats fee codes which describe the category of fee applicable to trades on Bats BXE, CXE and TRF platforms

This release incorporates a series of significant mandatory enhancements:

* Support for MMT v3 in the Bats market data feeds and trade reporting products
* Update of FIX, BOE and Identifier Management Application fields for RTS 24 Order Record Keeping
* Order Capacity and Liquidity Provision designation will now be mandatory

* Order Capacity will no longer be used to determine which Central Counterparty (CCP) Account Type prefix to use in Account field

* Support for Short Sale specifications
* Addition of Waiver Type indicator
* LastMkt supplied by default on executions
* Support for publication of trades in unknown symbology on Market Data Feeds
* FIX timestamps in microseconds by default
Please consult the 2017 Q2 Exchange Release Guidance Note for the complete list of mandatory changes.

Testing & Production

All features described above will be made available in Production environments on Friday, 14th July 2017, and in Certification environments according to the below schedule:

Environment

MMT v3 inbound order handler availability *

MMT v3 outbound market data mandatory *

MiFID II availability *

Fee Codes *

BXE UAT

7th March

7th March

7th March

7th March

CXE UAT

13th June

13th June

13th June

7th March

TRF UAT

7th March

7th March

7th March

7th March

*see 2017 Q2 Exchange Release Guidance Note for list of MMTv3, MiFID II and Fee Code changes

DOCUMENTATION

* Bats MiFID II implementation milestones: https://www.bats.com/europe/equities/regulation/mifid/milestones/

* Q2 2017 Exchange Release Guidance Note: http://cdn.batstrading.com/resources/participant_resources/BCE-GuidanceNote-Q22017Release_Final.pdf

* BXE/CXE FIX: http://cdn.batstrading.com/resources/participant_resources/BATS_Europe_FIX_Specification_Effective.pdf

* BXE/CXE BOEv2: http://cdn.batstrading.com/resources/participant_resources/BATS_Europe_BOE2_Specification_Effective.pdf

* TRF FIX: http://cdn.batstrading.com/resources/participant_resources/BATS_ChiX_Europe_TRF_FIX_Specification_Effective.pdf

* TRF BOE v2: http://cdn.batstrading.com/resources/participant_resources/BATS_Europe_BOE2_Specification_Effective.pdf

* TCP PITCH: http://cdn.batstrading.com/resources/participant_resources/BATS_Europe_PITCH_Specification_Effective.pdf

* MC PITCH: http://cdn.batstrading.com/resources/participant_resources/BATS_Europe_MC_PITCH_Specification_Effective.pdf

* MiFID II Identifier Management: http://cdn.batstrading.com/resources/participant_resources/BATS_Europe_MiFID2_Identifier_Management_Specification.pdf

* Trade Data File: http://cdn.batstrading.com/resources/participant_resources/BATS_Europe_Trade_Data_File_Effective.pdf

* Trade Detail File: http://cdn.batstrading.com/resources/participant_resources/BATS_Europe_Trade_Detail_File_Effective.pdf

* Trading Price List: http://cdn.batstrading.com/resources/participant_resources/BATSEuro_Pricing.pdf

* Technical Change Calendar: http://cdn.batstrading.com/resources/participant_resources/BATS_Change_Calendar.pdf

* Previous MiFID II Exchange Releases:

o Q4 2016 Exchange Release Guidance Note: http://cdn.batstrading.com/resources/participant_resources/BCE-GuidanceNote-Q42016Release_Final.pdf

o Q2 2016 Exchange Release Guidance Note: http://cdn.batstrading.com/resources/participant_resources/BCE-GuidanceNote-Q22016Release_Final.pdf

Please contact the Trade Desk or your Account Manager if you have any questions.

All current and historical Bats Europe notices, including symbol universe updates, are available online at https://www.bats.com/europe/equities/notices/release_notes/.

Trade Desk,
Bats Europe, a CBOE company
Phone: +44 20 7012 8901
Email: TradeDeskEurope@bats.com
www.bats.com
* Bats Trading Limited is a Recognised Investment Exchange regulated by the Financial Conduct Authority.

Bats Europe: BXTR TRF CERTIFICATION (UAT) test environment unavailable Fri 5th May, 2017

May 02, 2017 16:02:07

Dear Bats Europe Participants,

Due to scheduled maintenance, the BXTR TRF CERTIFICATION (UAT) test environment will be unavailable on Friday 5th May, 2017.

Please note that the BXE and CXE CERTIFICATION environments are unaffected and will continue to be available for testing as normal.

The BXTR TRF CERTIFICATION test environment will become available again on Monday 8th May, 2017.

Please contact the Trade Desk or your Account Manager if you have any questions.
All current and historical Bats Europe notices, including symbol universe updates, are available online at http://www.bats.com/europe/equities/notices/release_notes/.

Trade Desk,
Bats Europe, a CBOE company
Phone: +44 20 7012 8901
Email: TradeDeskEurope@bats.com
www.bats.com
* Bats Trading Limited is a Recognised Investment Exchange regulated by the Financial Conduct Authority.

UPDATE: Bats Europe: Mandatory Q2 2017 Exchange Release - POSTPONED to Fri 14th July 2017

April 27, 2017 15:56:28

Dear Bats Europe Participants

Bats Europe (Bats) would like to advise Participants that due to participant change freezes around the UK General Election, the Bats Q2 Exchange release will be postponed from the previously announced Production live date of Friday, 9th June 2017, to the new date of Friday, 14th July 2017. Linked to this, the Q2 release in the CXE Certification (UAT) environment will also be postponed from the previously announced date of Tuesday, 9th May 2017, to the new date of Tuesday, 13th June 2017. Please note that the Q2 release in the BXE and TRF Certification (UAT) environments has been available since Tuesday, 7th March 2017.

As a reminder, please note there are mandatory protocol-level (FIX, BOE, PITCH, DROP) interface changes in the Bats BXE, CXE and Trade Reporting Facility (TRF) environments in this exchange release.

These changes constitute the main functional changes to real-time protocols for 2017, which are considered mandatory for MiFIR and MiFID II (collectively "MiFID II") compliance and MMT v3 adherence. They are in addition to previous exchange releases which included MiFID II-related content. Bats' MiFID II implementation milestones can be found here. Participants are advised to check this resource regularly for Bats' upcoming MiFID II milestones.

These changes are being made in order to provide support for:

* further features related to MiFIR and MiFID II (collectively "MiFID II") compliance

* fields that have been added and updated in order to align with the FIX Trading Community standard

* MMT v3, as published by FIX Trading Community

* new Bats fee codes which describe the category of fee applicable to trades on Bats BXE, CXE and TRF platforms

This release incorporates a series of significant mandatory enhancements:

* Support for MMT v3 in the Bats market data feeds and trade reporting products
* Update of FIX, BOE and Identifier Management Application fields for RTS 24 Order Record Keeping
* Order Capacity and Liquidity Provision designation will now be mandatory

* Order Capacity will no longer be used to determine which Central Counterparty (CCP) Account Type prefix to use in Account field

* Support for Short Sale specifications
* Addition of Waiver Type indicator
* LastMkt supplied by default on executions
* Support for publication of trades in unknown symbology on Market Data Feeds
* FIX timestamps in microseconds by default
Please consult the 2017 Q2 Exchange Release Guidance Note for the complete list of mandatory changes.

Testing & Production

All features described above will be made available in Production environments on Friday, 14th July 2017, and in Certification environments according to the below schedule:

Environment

MMT v3 inbound order handler availability *

MMT v3 outbound market data mandatory *

MiFID II availability *

Fee Codes *

BXE UAT

7th March

7th March

7th March

7th March

CXE UAT

13th June

13th June

13th June

7th March

TRF UAT

7th March

7th March

7th March

7th March

*see 2017 Q2 Exchange Release Guidance Note for list of MMTv3, MiFID II and Fee Code changes

DOCUMENTATION

* Bats MiFID II implementation milestones: https://www.bats.com/europe/equities/regulation/mifid/milestones/

* Q2 2017 Exchange Release Guidance Note: http://cdn.batstrading.com/resources/participant_resources/BCE-GuidanceNote-Q22017Release_Final.pdf

* BXE/CXE FIX: http://cdn.batstrading.com/resources/participant_resources/BATS_Europe_FIX_Specification_Effective.pdf

* BXE/CXE BOEv2: http://cdn.batstrading.com/resources/participant_resources/BATS_Europe_BOE2_Specification_Effective.pdf

* TRF FIX: http://cdn.batstrading.com/resources/participant_resources/BATS_ChiX_Europe_TRF_FIX_Specification_Effective.pdf

* TRF BOE v2: http://cdn.batstrading.com/resources/participant_resources/BATS_Europe_BOE2_Specification_Effective.pdf

* TCP PITCH: http://cdn.batstrading.com/resources/participant_resources/BATS_Europe_PITCH_Specification_Effective.pdf

* MC PITCH: http://cdn.batstrading.com/resources/participant_resources/BATS_Europe_MC_PITCH_Specification_Effective.pdf

* MiFID II Identifier Management: http://cdn.batstrading.com/resources/participant_resources/BATS_Europe_MiFID2_Identifier_Management_Specification.pdf

* Trade Data File: http://cdn.batstrading.com/resources/participant_resources/BATS_Europe_Trade_Data_File_Effective.pdf

* Trade Detail File: http://cdn.batstrading.com/resources/participant_resources/BATS_Europe_Trade_Detail_File_Effective.pdf

* Trading Price List: http://cdn.batstrading.com/resources/participant_resources/BATSEuro_Pricing.pdf

* Technical Change Calendar: http://cdn.batstrading.com/resources/participant_resources/BATS_Change_Calendar.pdf

* Previous MiFID II Exchange Releases:

o Q4 2016 Exchange Release Guidance Note: http://cdn.batstrading.com/resources/participant_resources/BCE-GuidanceNote-Q42016Release_Final.pdf

o Q2 2016 Exchange Release Guidance Note: http://cdn.batstrading.com/resources/participant_resources/BCE-GuidanceNote-Q22016Release_Final.pdf

Please contact the Trade Desk or your Account Manager if you have any questions.

All current and historical Bats Europe notices, including symbol universe updates, are available online at https://www.bats.com/europe/equities/notices/release_notes/.

Trade Desk
Bats Europe ... Making Markets Better
P: +44.207.012.8901
E: TradeDeskEU@bats.com
www.bats.com
* Bats Trading Limited is a Recognised Investment Exchange regulated by the Financial Conduct Authority.

Bats Europe: CXE CERTIFICATION (UAT) test environment unavailable Wed 26th March, 2017

April 25, 2017 07:59:23

Dear Bats Europe Participants,

The CXE CERTIFICATION (UAT) test environment will be unavailable from 12pm UK time on Wednesday 26th April, 2017 due to scheduled maintenance.

Please note that the BXE and TRF CERTIFICATION environments will continue to be available for testing as normal.

The CXE CERTIFICATION test environment will be available again according to the usual timetable on Thursday 27th April, 2017.

Please contact the Trade Desk or your Account Manager if you have any questions.
All current and historical Bats Europe notices, including symbol universe updates, are available online at http://www.bats.com/europe/equities/notices/schedule_update/.

Trade Desk,
Bats Europe, a CBOE company
Phone: +44 20 7012 8901
Email: TradeDeskEurope@bats.com
www.bats.com
* Bats Trading Limited is a Recognised Investment Exchange regulated by the Financial Conduct Authority.

Bats Europe: Copenhagen market segment open for trading on Mon 1st May, 2017

April 10, 2017 11:01:08

Dear Bats Europe Participants,

Bats Europe BXE and CXE order books will be open for On-Exchange Services for Copenhagen securities only (MIC code XCSE), including Exchange Trade Report (ETR) services, on Monday 1st May 2017. All other market segments will be closed on this date in observance of Labour Day. Regular trading in all market segments will resume on Tuesday, 2nd May 2017.

Please note that Bats Off-Exchange TRF environment is unaffected by the above observation and will be open for all market segments on Monday 1st May 2017.

The Bats Europe Trading Calendar is available here: http://www.bats.com/newsroom/hours/europe/
Please contact the Trade Desk or your Account Manager if you have any questions.
Trade Desk,
Bats Europe, a CBOE company
Phone: +44 20 7012 8901
Email: TradeDeskEurope@bats.com
www.bats.com
* Bats Trading Limited is a Recognised Investment Exchange regulated by the Financial Conduct Authority

UPDATE: Bats Europe: Mandatory Q2 2017 Exchange Release - Upcoming Changes, effective Fri 9th June 2017

March 24, 2017 15:30:48

Dear Bats Europe Participants

Bats Europe (Bats) would like to advise Participants of the following updates to the Q2 2017 Exchange Release and Guidance Note:

* MiFID II indicators and FIX / BOE mapping for the Pre-Trade Transparency Waivers Order Management Facility (Iceberg) and Large In Scale have been added to section 2.4 'FIX & BOE Waiver / Negotiation Indicators'.

* MMT input and output guidance has been added in section 2.7

As a reminder, the Q2 release changes will take effect in PRODUCTION effective Friday, 9th June 2017. Please note there are mandatory protocol-level (FIX, BOE, PITCH, DROP) interface changes in the Bats BXE, CXE and Trade Reporting Facility (TRF) environments in this release.

These changes constitute the main functional changes to real-time protocols for 2017, which are considered mandatory for MiFIR and MiFID II (collectively "MiFID II") compliance and MMT v3 adherence. They are in addition to previous exchange releases which included MiFID II-related content. Bats' MiFID II implementation milestones can be found here. Participants are advised to check this resource regularly for Bats' upcoming MiFID II milestones.

These changes are being made in order to provide support for:

* further features related to MiFIR and MiFID II (collectively "MiFID II") compliance

* fields that have been added and updated in order to align with the FIX Trading Community standard

* MMT v3, as published by FIX Trading Community

* new Bats fee codes which describe the category of fee applicable to trades on Bats BXE, CXE and TRF platforms

This release incorporates a series of significant mandatory enhancements:

* Support for MMT v3 in the Bats market data feeds and trade reporting products
* Update of FIX, BOE and Identifier Management Application fields for RTS 24 Order Record Keeping
* Order Capacity and Liquidity Provision designation will now be mandatory

* Order Capacity will no longer be used to determine which Central Counterparty (CCP) Account Type prefix to use in Account field

* Support for Short Sale specifications
* Addition of Waiver Type indicator
* LastMkt supplied by default on executions
* Support for publication of trades in unknown symbology on Market Data Feeds
* FIX timestamps in microseconds by default
Please consult the 2017 Q2 Exchange Release Guidance Note for the complete list of mandatory changes.

Testing & Production

All features described above will be made available in Production environments on Friday, 9th June 2017 and in Certification environments according to the below schedule:

Environment

MMT v3 inbound order handler availability *

MMT v3 outbound market data mandatory *

MiFID II availability *

Fee Codes *

BXE UAT

7th March

7th March

7th March

7th March

CXE UAT

9th May

9th May

9th May

7th March

TRF UAT

7th March

7th March

7th March

7th March

*see 2017 Q2 Exchange Release Guidance Note for list of MMTv3, MiFID II and Fee Code changes

DOCUMENTATION

* Bats MiFID II implementation milestones: https://www.bats.com/europe/equities/regulation/mifid/milestones/

* Q2 2017 Exchange Release Guidance Note: http://cdn.batstrading.com/resources/participant_resources/BCE-GuidanceNote-Q22017Release_Final.pdf

* BXE/CXE FIX: http://cdn.batstrading.com/resources/participant_resources/BATS_Europe_FIX_Specification_Effective.pdf

* BXE/CXE BOEv2: http://cdn.batstrading.com/resources/participant_resources/BATS_Europe_BOE2_Specification_Effective.pdf

* TRF FIX: http://cdn.batstrading.com/resources/participant_resources/BATS_ChiX_Europe_TRF_FIX_Specification_Effective.pdf

* TRF BOE v2: http://cdn.batstrading.com/resources/participant_resources/BATS_Europe_BOE2_Specification_Effective.pdf

* TCP PITCH: http://cdn.batstrading.com/resources/participant_resources/Bats_Europe_PITCH_Specification_Effective.pdf

* MC PITCH: http://cdn.batstrading.com/resources/participant_resources/Bats_Europe_MC_PITCH_Specification_Effective.pdf

* MiFID II Identifier Management: http://cdn.batstrading.com/resources/participant_resources/BATS_Europe_MiFID2_Identifier_Management_Specification.pdf

* Trade Data File: http://cdn.batstrading.com/resources/participant_resources/BATS_Europe_Trade_Data_File_Effective.pdf

* Trade Detail File: http://cdn.batstrading.com/resources/participant_resources/BATS_Europe_Trade_Detail_File_Effective.pdf

* Trading Price List: http://cdn.batstrading.com/resources/participant_resources/BATSEuro_Pricing_Effective.pdf

* Technical Change Calendar: http://cdn.batstrading.com/resources/participant_resources/BATS_Change_Calendar.pdf

* Fee Codes (links will become available in UAT from 7th March):

o http://www.bats.com/europe/equities/participation/fee_schedule/bxe/

o http://www.bats.com/europe/equities/participation/fee_schedule/cxe/

o http://www.bats.com/europe/equities/participation/fee_schedule/trf/

* Previous MiFID II Exchange Releases:

o Q4 2016 Exchange Release Guidance Note: http://cdn.batstrading.com/resources/participant_resources/BCE-GuidanceNote-Q42016Release_Final.pdf

o Q2 2016 Exchange Release Guidance Note: http://cdn.batstrading.com/resources/participant_resources/BCE-GuidanceNote-Q22016Release_Final.pdf

Please contact the Trade Desk or your Account Manager if you have any questions.

All current and historical Bats Europe notices, including symbol universe updates, are available online at https://www.bats.com/europe/equities/notices/release_notes/.

Trade Desk
Bats Europe ... Making Markets Better
P: +44.207.012.8901
E: TradeDeskEU@bats.com
www.bats.com
* Bats Trading Limited is a Recognised Investment Exchange regulated by the Financial Conduct Authority.

Bats Europe obtains Trade Data Monitor (TDM) status with SIX Swiss Exchange

March 13, 2017 10:29:02

Dear Bats Europe Participants,

Bats Europe (Bats) is pleased to announce that it has obtained TDM status with the SIX Swiss Exchange, with an effective date of 13th March 2017. This status permits remote members of SIX Swiss Exchange to utilise Bats' OTC reporting service for Swiss securities.

Pricing for OTC reporting of Swiss instruments will be accommodated within the existing fee tariff for the service.

Bats will be making the functionality available to users of its reporting services from Monday, 20th March 2017.

Please contact your Account Manager if you have any questions at saleseurope@bats.com. All current and historical Bats Europe notices are available at www.batstrading.co.uk/alerts.

Thank you for your continued support.

Trade Desk
Bats Europe ... Making Markets Better
P: +44.207.012.8901
E: TradeDeskEU@bats.com
www.bats.com
* BATS Trading Limited is a Recognised Investment Exchange regulated by the Financial Conduct Authority.

REMINDER: Bats Europe: Annual Disaster Recovery Test - Saturday 11th March 2017

March 10, 2017 10:18:22

Dear Bats Europe Participants

Annual Disaster Recovery test - Saturday 11th March 2017

Bats Europe (Bats) will be conducting its annual disaster recovery (DR) test on the Production BXE and CXE integrated order books and TRF environment tomorrow, Saturday 11th March 2017. Please note this will be the final DR test prior to the implementation of Mifid II in January 2018. The purpose of this testing day is for Bats to simulate various DR failover scenarios, including a test of market failover from its primary data centre at Equinix Slough (LD4) to its secondary data centre at Equinix Park Royal (LD3). Participant attendance is not mandatory but is strongly recommended as this exercise affords Participants the ability to observe how their trading, trade reporting and market data applications would function in the event of a DR event at Bats Europe.

Participants should note the following:

* Change Freeze - Participants wishing to take part in the DR test must submit any outstanding requests for new ports by 16:00 UK time on Thursday 9th March. No new port requests will be processed on Friday 10th March.
* Production Data - Please ensure that your Production systems are configured not to send Production trade reports when Bats systems come up on the morning of Saturday 11th March, as all data from that day will be discarded as test data.
* Disaster Recovery Test Schedule of Activities

Key contacts on the day

* The standard Bats support contacts will be available from 07:00 until 12:40 UK time:

o NOC: NOCEurope@bats.com +44 20 7012 8905

o Trade Desk: TradeDeskEurope@bats.com +44 20 7012 8901

Conference Bridge

* There will be an one-way conference bridge open from 07:30 and close at 12:40 UK used by Bats staff to disseminate regular progress updates throughout the day.

o UK Call-in Number: +44 207 897 0111

o Participant Passcode: 1917347665#

Please contact the Trade Desk or your Account Manager if you have any questions.

All current and historical Bats Europe notices, including symbol universe updates, are available online.

Trade Desk
Bats Europe ... Making Markets Better
P: +44.207.012.8901
E: TradeDeskEU@bats.com
www.bats.com
* BATS Trading Limited is a Recognised Investment Exchange regulated by the Financial Conduct Authority.

REMINDER: Bats Europe: Q2 2017 Exchange Release - Upcoming Changes, effective Fri 9th June 2017

March 07, 2017 16:09:57

Dear Bats Europe Participants

Bats Europe (Bats) would like to remind Participants that the upcoming Q2 2017 Exchange Release has taken effect in the BXE UAT and TRF UAT environments, as of today.

These changes will take effect in PRODUCTION effective Friday, 9th June 2017.

Please note there are mandatory protocol-level (FIX, BOE, PITCH, DROP) interface changes in the Bats BXE, CXE and Trade Reporting Facility (TRF) environments in this release.

These changes constitute the main functional changes to real-time protocols for 2017, which are considered mandatory for MiFIR and MiFID II (collectively "MiFID II") compliance and MMT v3 adherence. They are in addition to previous exchange releases which included MiFID II-related content. Bats' MiFID II implementation milestones can be found here. Participants are advised to check this resource regularly for Bats' upcoming MiFID II milestones.

These changes are being made in order to provide support for:

* further features related to MiFIR and MiFID II (collectively "MiFID II") compliance

* fields that have been added and updated in order to align with the FIX Trading Community standard

* MMT v3, as published by FIX Trading Community

* new Bats fee codes which describe the category of fee applicable to trades on Bats BXE, CXE and TRF platforms

This release incorporates a series of significant enhancements:

* Support for MMT v3 in the Bats market data feeds and trade reporting products
* Update of FIX, BOE and Identifier Management Application fields for RTS 24 Order Record Keeping
* Order Capacity and Liquidity Provision designation will now be mandatory

* Order Capacity will no longer be used to determine which Central Counterparty (CCP) Account Type prefix to use in Account field

* Support for Short Sale specifications
* Addition of Waiver Type indicator
* LastMkt supplied by default on executions
* Support for publication of trades in unknown symbology on Market Data Feeds
* FIX timestamps in microseconds by default
Please consult the 2017 Q2 Exchange Release Guidance Note for the complete list of mandatory changes.

Testing & Production

All features described above will be made available in Production environments on Friday, 9th June 2017 and in Certification environments according to the below schedule:

Environment

MMT v3 inbound order handler availability *

MMT v3 outbound market data mandatory *

MiFID II availability *

Fee Codes *

BXE UAT

7th March

7th March

7th March

7th March

CXE UAT

9th May

9th May

9th May

7th March

TRF UAT

7th March

7th March

7th March

7th March

*see 2017 Q2 Exchange Release Guidance Note for list of MMTv3, MiFID II and Fee Code changes

DOCUMENTATION

* Bats MiFID II implementation milestones: https://www.bats.com/europe/equities/regulation/mifid/milestones/

* Q2 2017 Exchange Release Guidance Note: http://cdn.batstrading.com/resources/participant_resources/BCE-GuidanceNote-Q22017Release_Final.pdf

* BXE/CXE FIX: http://cdn.batstrading.com/resources/participant_resources/BATS_Europe_FIX_Specification_Effective.pdf

* BXE/CXE BOEv2: http://cdn.batstrading.com/resources/participant_resources/BATS_Europe_BOE2_Specification_Effective.pdf

* TRF FIX: http://cdn.batstrading.com/resources/participant_resources/BATS_ChiX_Europe_TRF_FIX_Specification_Effective.pdf

* TRF BOE v2: http://cdn.batstrading.com/resources/participant_resources/BATS_Europe_BOE2_Specification_Effective.pdf

* TCP PITCH: http://cdn.batstrading.com/resources/participant_resources/Bats_Europe_PITCH_Specification_Effective.pdf

* MC PITCH: http://cdn.batstrading.com/resources/participant_resources/Bats_Europe_MC_PITCH_Specification_Effective.pdf

* MiFID II Identifier Management: http://cdn.batstrading.com/resources/participant_resources/BATS_Europe_MiFID2_Identifier_Management_Specification.pdf

* Trade Data File: http://cdn.batstrading.com/resources/participant_resources/BATS_Europe_Trade_Data_File_Effective.pdf

* Trade Detail File: http://cdn.batstrading.com/resources/participant_resources/BATS_Europe_Trade_Detail_File_Effective.pdf

* Trading Price List: http://cdn.batstrading.com/resources/participant_resources/BATSEuro_Pricing_Effective.pdf

* Technical Change Calendar: http://cdn.batstrading.com/resources/participant_resources/BATS_Change_Calendar.pdf

* Fee Codes (links will become available in UAT from 7th March):

o http://www.bats.com/europe/equities/participation/fee_schedule/bxe/

o http://www.bats.com/europe/equities/participation/fee_schedule/cxe/

o http://www.bats.com/europe/equities/participation/fee_schedule/trf/

* Previous MiFID II Exchange Releases:

o Q4 2016 Exchange Release Guidance Note: http://cdn.batstrading.com/resources/participant_resources/BCE-GuidanceNote-Q42016Release_Final.pdf

o Q2 2016 Exchange Release Guidance Note: http://cdn.batstrading.com/resources/participant_resources/BCE-GuidanceNote-Q22016Release_Final.pdf

Please contact the Trade Desk or your Account Manager if you have any questions.

All current and historical Bats Europe notices, including symbol universe updates, are available online at https://www.bats.com/europe/equities/notices/release_notes/.

Trade Desk
Bats Europe ... Making Markets Better
P: +44.207.012.8901
E: TradeDeskEU@bats.com
www.bats.com
* Bats Trading Limited is a Recognised Investment Exchange regulated by the Financial Conduct Authority.

REMINDER: Bats Europe: Annual Disaster Recovery Test - Saturday 11th March 2017

March 06, 2017 10:31:31

Dear Bats Europe Participants

Annual Disaster Recovery test - Saturday 11th March 2017

Bats Europe (Bats) will be conducting its annual disaster recovery (DR) test on the Production BXE and CXE integrated order books and TRF environment on Saturday 11th March 2017.
Please note this will be the final DR test prior to the implementation of MiFID II in January 2018.
The purpose of this testing day is for Bats to simulate various DR failover scenarios, including a test of market failover from its primary data centre at Equinix Slough (LD4) to its secondary data centre at Equinix Park Royal (LD3). Participant attendance is not mandatory but is strongly recommended as this exercise affords Participants the ability to observe how their trading, trade reporting and market data applications would function in the event of a DR event at Bats Europe.

Participants should note the following:

* Change Freeze - Participants wishing to take part in the DR test must submit any outstanding requests for new ports by 16:00 UK time on Thursday 9th March. No new port requests will be processed on Friday 10th March.
* Production Data - Please ensure that your Production systems are configured not to send Production trade reports when Bats systems come up on the morning of Saturday 11th March, as all data from that day will be discarded as test data.
* Disaster Recovery Test Schedule of Activities

Key contacts on the day

* The standard Bats support contacts will be available from 07:00 until 12:40 UK time:

o NOC: NOCEurope@bats.com +44 20 7012 8905

o Trade Desk: TradeDeskEurope@bats.com +44 20 7012 8901

Conference Bridge

* There will be an one-way conference bridge open from 07:30 and close at 12:40 UK used by Bats staff to disseminate regular progress updates throughout the day.

* Details of the conference bridge will be sent out closer to the DR test date.

Please contact the Trade Desk or your Account Manager if you have any questions.

All current and historical Bats Europe notices, including symbol universe updates, are available online.

Trade Desk
Bats Europe, a CBOE company
P: +44.207.012.8901
E: TradeDeskEU@bats.com
www.bats.com
* BATS Trading Limited is a Recognised Investment Exchange regulated by the Financial Conduct Authority.

REMINDER: Bats Europe: Annual Disaster Recovery Test - Saturday 11th March 2017

February 28, 2017 11:30:30

Dear Bats Europe Participants

Annual Disaster Recovery test - Saturday 11th March 2017

Bats Europe (Bats) will be conducting its annual disaster recovery (DR) test on the Production BXE and CXE integrated order books and TRF environment on Saturday 11th March 2017. Please note this will be the final DR test prior to the implementation of Mifid II in January 2018. The purpose of this testing day is for Bats to simulate various DR failover scenarios, including a test of market failover from its primary data centre at Equinix Slough (LD4) to its secondary data centre at Equinix Park Royal (LD3). Participant attendance is not mandatory but is strongly recommended as this exercise affords Participants the ability to observe how their trading, trade reporting and market data applications would function in the event of a DR event at Bats Europe.

Participants should note the following:

* Change Freeze - Participants wishing to take part in the DR test must submit any outstanding requests for new ports by 16:00 UK time on Thursday 9th March. No new port requests will be processed on Friday 10th March.
* Production Data - Please ensure that your Production systems are configured not to send Production trade reports when Bats systems come up on the morning of Saturday 11th March, as all data from that day will be discarded as test data.
* Disaster Recovery Test Schedule of Activities

Key contacts on the day

* The standard Bats support contacts will be available from 07:00 until 12:40 UK time:

o NOC: NOCEurope@bats.com +44 20 7012 8905

o Trade Desk: TradeDeskEurope@bats.com +44 20 7012 8901

Conference Bridge

* There will be an one-way conference bridge open from 07:30 and close at 12:40 UK used by Bats staff to disseminate regular progress updates throughout the day.

* Details of the conference bridge will be sent out closer to the DR test date.

Please contact the Trade Desk or your Account Manager if you have any questions.

All current and historical Bats Europe notices, including symbol universe updates, are available online.

Trade Desk
Bats Europe ... Making Markets Better
P: +44.207.012.8901
E: TradeDeskEU@bats.com
www.bats.com
* BATS Trading Limited is a Recognised Investment Exchange regulated by the Financial Conduct Authority.

REMINDER: Bats Europe: Annual Disaster Recovery Test - Saturday 11th March 2017

February 20, 2017 12:14:22

Dear Bats Europe Participants

Annual Disaster Recovery test - Saturday 11th March 2017

Bats Europe (Bats) will be conducting its annual disaster recovery (DR) test on the Production BXE and CXE integrated order books and TRF environment on Saturday 11th March 2017. Please note this will be the final DR test prior to the implementation of Mifid II in January 2018. The purpose of this testing day is for Bats to simulate various DR failover scenarios, including a test of market failover from its primary data centre at Equinix Slough (LD4) to its secondary data centre at Equinix Park Royal (LD3). Participant attendance is not mandatory but is strongly recommended as this exercise affords Participants the ability to observe how their trading, trade reporting and market data applications would function in the event of a DR event at Bats Europe.

Participants should note the following:

* Change Freeze - Participants wishing to take part in the DR test must submit any outstanding requests for new ports by 16:00 UK time on Thursday 9th March. No new port requests will be processed on Friday 10th March.
* Production Data - Please ensure that your Production systems are configured not to send Production trade reports when Bats systems come up on the morning of Saturday 11th March, as all data from that day will be discarded as test data.
* Disaster Recovery Test Schedule of Activities

Key contacts on the day

* The standard Bats support contacts will be available from 07:00 until 12:40 UK time:

o NOC: NOCEurope@bats.com +44 20 7012 8905

o Trade Desk: TradeDeskEurope@bats.com +44 20 7012 8901

Conference Bridge

* There will be an one-way conference bridge open from 07:30 and close at 12:40 UK used by Bats staff to disseminate regular progress updates throughout the day.

* Details of the conference bridge will be sent out closer to the DR test date.

Please contact the Trade Desk or your Account Manager if you have any questions.

All current and historical Bats Europe notices, including symbol universe updates, are available online.

Trade Desk
Bats Europe ... Making Markets Better
P: +44.207.012.8901
E: TradeDeskEU@bats.com
www.bats.com
* BATS Trading Limited is a Recognised Investment Exchange regulated by the Financial Conduct Authority.

Corrected Subject: RE: Bats Europe: Q2 2017 Exchange Release - Upcoming Changes, effective Fri 9th June 2017

February 13, 2017 16:31:58

Dear Bats Europe Participants

Bats Europe (Bats) is pleased to announce its Q2 2017 Exchange Release effective Friday, 9th June 2017. There are mandatory protocol-level (FIX, BOE, PITCH, DROP) interface changes in the Bats BXE, CXE and Trade Reporting Facility (TRF) environments in this release.

These changes constitute the main functional changes to real-time protocols for 2017, which are considered mandatory for MiFIR and MiFID II (collectively "MiFID II") compliance and MMT v3 adherence. They are in addition to previous exchange releases which included MiFID II-related content. Bats' MiFID II implementation milestones can be found here. Participants are advised to check this resource regularly for Bats' upcoming MiFID II milestones.

These changes are being made in order to provide support for:

* further features related to MiFIR and MiFID II (collectively "MiFID II") compliance

* fields that have been added and updated in order to align with the FIX Trading Community standard

* MMT v3, as published by FIX Trading Community

* new Bats fee codes which describe the category of fee applicable to trades on Bats BXE, CXE and TRF platforms

This release incorporates a series of significant enhancements:

* Support for MMT v3 in the Bats market data feeds and trade reporting products
* Update of FIX, BOE and Identifier Management Application fields for RTS 24 Order Record Keeping
* Order Capacity and Liquidity Provision designation will now be mandatory

* Order Capacity will no longer be used to determine which Central Counterparty (CCP) Account Type prefix to use in Account field

* Support for Short Sale specifications
* Addition of Waiver Type indicator
* LastMkt supplied by default on executions
* Support for publication of trades in unknown symbology on Market Data Feeds
* FIX timestamps in microseconds by default
Please consult the 2017 Q2 Exchange Release Guidance Note for the complete list of mandatory changes.

Testing & Production

All features described above will be made available in Production environments on Friday, 9th June 2017 and in Certification environments according to the below schedule:

Environment

MMT v3 inbound order handler availability *

MMT v3 outbound market data mandatory *

MiFID II availability *

Fee Codes *

BXE UAT

7th March

7th March

7th March

7th March

CXE UAT

9th May

9th May

9th May

7th March

TRF UAT

7th March

7th March

7th March

7th March

*see 2017 Q2 Exchange Release Guidance Note for list of MMTv3, MiFID II and Fee Code changes

DOCUMENTATION

* Bats MiFID II implementation milestones: https://www.bats.com/europe/equities/regulation/mifid/milestones/

* Q2 2017 Exchange Release Guidance Note: http://cdn.batstrading.com/resources/participant_resources/BCE-GuidanceNote-Q22017Release_Final.pdf

* BXE/CXE FIX: http://cdn.batstrading.com/resources/participant_resources/BATS_Europe_FIX_Specification_Effective.pdf

* BXE/CXE BOEv2: http://cdn.batstrading.com/resources/participant_resources/BATS_Europe_BOE2_Specification_Effective.pdf

* TRF FIX: http://cdn.batstrading.com/resources/participant_resources/BATS_ChiX_Europe_TRF_FIX_Specification_Effective.pdf

* TRF BOE v2: http://cdn.batstrading.com/resources/participant_resources/BATS_Europe_BOE2_Specification_Effective.pdf

* TCP PITCH: http://cdn.batstrading.com/resources/participant_resources/Bats_Europe_PITCH_Specification_Effective.pdf

* MC PITCH: http://cdn.batstrading.com/resources/participant_resources/Bats_Europe_MC_PITCH_Specification_Effective.pdf

* MiFID II Identifier Management: http://cdn.batstrading.com/resources/participant_resources/BATS_Europe_MiFID2_Identifier_Management_Specification.pdf

* Trade Data File: http://cdn.batstrading.com/resources/participant_resources/BATS_Europe_Trade_Data_File_Effective.pdf

* Trade Detail File: http://cdn.batstrading.com/resources/participant_resources/BATS_Europe_Trade_Detail_File_Effective.pdf

* Trading Price List: http://cdn.batstrading.com/resources/participant_resources/BATSEuro_Pricing_Effective.pdf

* Technical Change Calendar: http://cdn.batstrading.com/resources/participant_resources/BATS_Change_Calendar.pdf

* Fee Codes (links will become available in UAT from 7th March):

o http://www.bats.com/europe/equities/participation/fee_schedule/bxe/

o http://www.bats.com/europe/equities/participation/fee_schedule/cxe/

o http://www.bats.com/europe/equities/participation/fee_schedule/trf/

* Previous MiFID II Exchange Releases:

o Q4 2016 Exchange Release Guidance Note: http://cdn.batstrading.com/resources/participant_resources/BCE-GuidanceNote-Q42016Release_Final.pdf

o Q2 2016 Exchange Release Guidance Note: http://cdn.batstrading.com/resources/participant_resources/BCE-GuidanceNote-Q22016Release_Final.pdf

Please contact the Trade Desk or your Account Manager if you have any questions.

All current and historical Bats Europe notices, including symbol universe updates, are available online at https://www.bats.com/europe/equities/notices/release_notes/.

Trade Desk
Bats Europe ... Making Markets Better
P: +44.207.012.8901
E: TradeDeskEU@bats.com
www.bats.com
* Bats Trading Limited is a Recognised Investment Exchange regulated by the Financial Conduct Authority.

Bats Europe: Q2 2017 Exchange Release - Upcoming Changes, effective Fri 12th May 2017

February 13, 2017 16:03:44

Dear Bats Europe Participants

Bats Europe (Bats) is pleased to announce its Q2 2017 Exchange Release. There are mandatory protocol-level (FIX, BOE, PITCH, DROP) interface changes in the Bats BXE, CXE and Trade Reporting Facility (TRF) environments in this release.

These changes constitute the main functional changes to real-time protocols for 2017, which are considered mandatory for MiFIR and MiFID II (collectively "MiFID II") compliance and MMT v3 adherence. They are in addition to previous exchange releases which included MiFID II-related content. Bats' MiFID II implementation milestones can be found here. Participants are advised to check this resource regularly for Bats' upcoming MiFID II milestones.

These changes are being made in order to provide support for:

* further features related to MiFIR and MiFID II (collectively "MiFID II") compliance

* fields that have been added and updated in order to align with the FIX Trading Community standard

* MMT v3, as published by FIX Trading Community

* new Bats fee codes which describe the category of fee applicable to trades on Bats BXE, CXE and TRF platforms

This release incorporates a series of significant enhancements:

* Support for MMT v3 in the Bats market data feeds and trade reporting products
* Update of FIX, BOE and Identifier Management Application fields for RTS 24 Order Record Keeping
* Order Capacity and Liquidity Provision designation will now be mandatory

* Order Capacity will no longer be used to determine which Central Counterparty (CCP) Account Type prefix to use in Account field

* Support for Short Sale specifications
* Addition of Waiver Type indicator
* LastMkt supplied by default on executions
* Support for publication of trades in unknown symbology on Market Data Feeds
* FIX timestamps in microseconds by default
Please consult the 2017 Q2 Exchange Release Guidance Note for the complete list of mandatory changes.

Testing & Production

All features described above will be made available in Production environments on Friday, 9th June 2017 and in Certification environments according to the below schedule:

Environment

MMT v3 inbound order handler availability *

MMT v3 outbound market data mandatory *

MiFID II availability *

Fee Codes *

BXE UAT

7th March

7th March

7th March

7th March

CXE UAT

9th May

9th May

9th May

7th March

TRF UAT

7th March

7th March

7th March

7th March

*see 2017 Q2 Exchange Release Guidance Note for list of MMTv3, MiFID II and Fee Code changes

DOCUMENTATION

* Bats MiFID II implementation milestones: https://www.bats.com/europe/equities/regulation/mifid/milestones/

* Q2 2017 Exchange Release Guidance Note: http://cdn.batstrading.com/resources/participant_resources/BCE-GuidanceNote-Q22017Release_Final.pdf

* BXE/CXE FIX: http://cdn.batstrading.com/resources/participant_resources/BATS_Europe_FIX_Specification_Effective.pdf

* BXE/CXE BOEv2: http://cdn.batstrading.com/resources/participant_resources/BATS_Europe_BOE2_Specification_Effective.pdf

* TRF FIX: http://cdn.batstrading.com/resources/participant_resources/BATS_ChiX_Europe_TRF_FIX_Specification_Effective.pdf

* TRF BOE v2: http://cdn.batstrading.com/resources/participant_resources/BATS_Europe_BOE2_Specification_Effective.pdf

* TCP PITCH: http://cdn.batstrading.com/resources/participant_resources/Bats_Europe_PITCH_Specification_Effective.pdf

* MC PITCH: http://cdn.batstrading.com/resources/participant_resources/Bats_Europe_MC_PITCH_Specification_Effective.pdf

* MiFID II Identifier Management: http://cdn.batstrading.com/resources/participant_resources/BATS_Europe_MiFID2_Identifier_Management_Specification.pdf

* Trade Data File: http://cdn.batstrading.com/resources/participant_resources/BATS_Europe_Trade_Data_File_Effective.pdf

* Trade Detail File: http://cdn.batstrading.com/resources/participant_resources/BATS_Europe_Trade_Detail_File_Effective.pdf

* Trading Price List: http://cdn.batstrading.com/resources/participant_resources/BATSEuro_Pricing_Effective.pdf

* Technical Change Calendar: http://cdn.batstrading.com/resources/participant_resources/BATS_Change_Calendar.pdf

* Fee Codes (links will become available in UAT from 7th March):

o http://www.bats.com/europe/equities/participation/fee_schedule/bxe/

o http://www.bats.com/europe/equities/participation/fee_schedule/cxe/

o http://www.bats.com/europe/equities/participation/fee_schedule/trf/

* Previous MiFID II Exchange Releases:

o Q4 2016 Exchange Release Guidance Note: http://cdn.batstrading.com/resources/participant_resources/BCE-GuidanceNote-Q42016Release_Final.pdf

o Q2 2016 Exchange Release Guidance Note: http://cdn.batstrading.com/resources/participant_resources/BCE-GuidanceNote-Q22016Release_Final.pdf

Please contact the Trade Desk or your Account Manager if you have any questions.

All current and historical Bats Europe notices, including symbol universe updates, are available online at https://www.bats.com/europe/equities/notices/release_notes/.

Trade Desk
Bats Europe ... Making Markets Better
P: +44.207.012.8901
E: TradeDeskEU@bats.com
www.bats.com
* Bats Trading Limited is a Recognised Investment Exchange regulated by the Financial Conduct Authority.

UPDATE - Bats Europe: Upcoming Symbol Reference Data file URL changes effective 31st Jan, 2017

January 27, 2017 14:50:07

Dear Bats Europe Participants,

Further to the below announcement, please be aware that the Reference Data Specification has now been updated with the Symbol and Tick Data CSV file names.

PRODUCTION Symbol CSV File Names
BXE BXESymbols-PROD
CXE CXESymbols-PROD
TRF TRFSymbols-PROD
LIS LISSymbols-PROD

PRODUCTION Tick CSV File Names
BXE BXETicks-PROD
CXE CXETicks-PROD
TRF TRFTicks-PROD
LIS LISTicks-PROD

Please contact the Trade Desk or your Account Manager if you have any questions.

All current and historical Bats notices are available online at https://www.bats.com/europe/equities/notices/.

Trade Desk
Bats Europe ... Making Markets Better
P: +44.207.012.8901
E: TradeDeskEU@bats.com
www.batstrading.co.uk
* BATS Trading Limited is a Recognised Investment Exchange regulated by the Financial Conduct Authority.

Dear Bats Europe Participants,

Please be advised that Bats Europe (Bats) will be making URL changes to the Symbol and Tick Reference Data files available to download on the Bats public website.
Effective Tuesday, 31st January 2017, Bats will re-direct Symbol and Tick Reference Data file requests made to batstrading.co.uk URLs to the new bats.com equivalent URLs below.
The new URLs are already available and can be used effective immediately.

Production reference data available over private connections will not be re-directed.
Enhanced symbol data csv file URLs will not be re-directed.
Other data and reporting tools will continue to be supported with the website migration.

Please adjust your systems accordingly so that there is no disruption to your access to these files.

Current Symbol File URLs
BXE http://www.batstrading.co.uk/bxe/market_data/symbol_listing/csv/
CXE http://www.batstrading.co.uk/cxe/market_data/symbol_listing/csv/
TRF http://www.batstrading.co.uk/trf/market_data/symbol_listing/csv/

New Symbol File URLs
BXE https://www.bats.com/europe/equities/market_statistics/symbols_traded/csv/?mkt=bxe
CXE https://www.bats.com/europe/equities/market_statistics/symbols_traded/csv/?mkt=cxe
TRF https://www.bats.com/europe/equities/market_statistics/symbols_traded/csv/?mkt=trf
LIS https://www.bats.com/europe/equities/market_statistics/symbols_traded/csv/?mkt=cxe&lis=t

Current Tick File URLs
BXE http://www.batstrading.co.uk/bxe/market_data/symbol_listing/tickcsv/
CXE http://www.batstrading.co.uk/cxe/market_data/symbol_listing/tickcsv/
TRF http://www.batstrading.co.uk/trf/market_data/symbol_listing/tickcsv/

New Tick File URLs
BXE https://www.bats.com/europe/equities/market_statistics/symbols_traded/tickcsv/?mkt=bxe
CXE https://www.bats.com/europe/equities/market_statistics/symbols_traded/tickcsv/?mkt=cxe
TRF https://www.bats.com/europe/equities/market_statistics/symbols_traded/tickcsv/?mkt=trf
LIS https://www.bats.com/europe/equities/market_statistics/symbols_traded/tickcsv/?mkt=cxe&lis=t

Certification (UAT) Symbol Reference Data file requests made to batstrading.co.uk URLs are now being redirected to the bats.com equivalent URLs.

Please refer to the Reference Data Specification for Symbol and Tick data URLs and file names.

Please contact the Trade Desk or your Account Manager if you have any questions.

All current and historical Bats notices are available online at https://www.bats.com/europe/equities/notices/.

Trade Desk
Bats Europe ... Making Markets Better
P: +44.207.012.8901
E: TradeDeskEU@bats.com
www.batstrading.co.uk
* BATS Trading Limited is a Recognised Investment Exchange regulated by the Financial Conduct Authority.

REMINDER - Bats Europe: Upcoming Symbol Reference Data file URL changes effective 31st Jan, 2017

January 27, 2017 09:19:56

Dear Bats Europe Participants,

Please be advised that Bats Europe (Bats) will be making URL changes to the Symbol and Tick Reference Data files available to download on the Bats public website.
Effective Tuesday, 31st January 2017, Bats will re-direct Symbol and Tick Reference Data file requests made to batstrading.co.uk URLs to the new bats.com equivalent URLs below.
The new URLs are already available and can be used effective immediately.

Production reference data available over private connections will not be re-directed.
Enhanced symbol data csv file URLs will not be re-directed.
Other data and reporting tools will continue to be supported with the website migration.

Please adjust your systems accordingly so that there is no disruption to your access to these files.

Current Symbol File URLs
BXE http://www.batstrading.co.uk/bxe/market_data/symbol_listing/csv/
CXE http://www.batstrading.co.uk/cxe/market_data/symbol_listing/csv/
TRF http://www.batstrading.co.uk/trf/market_data/symbol_listing/csv/

New Symbol File URLs
BXE https://www.bats.com/europe/equities/market_statistics/symbols_traded/csv/?mkt=bxe
CXE https://www.bats.com/europe/equities/market_statistics/symbols_traded/csv/?mkt=cxe
TRF https://www.bats.com/europe/equities/market_statistics/symbols_traded/csv/?mkt=trf
LIS https://www.bats.com/europe/equities/market_statistics/symbols_traded/csv/?mkt=cxe&lis=t

Current Tick File URLs
BXE http://www.batstrading.co.uk/bxe/market_data/symbol_listing/tickcsv/
CXE http://www.batstrading.co.uk/cxe/market_data/symbol_listing/tickcsv/
TRF http://www.batstrading.co.uk/trf/market_data/symbol_listing/tickcsv/

New Tick File URLs
BXE https://www.bats.com/europe/equities/market_statistics/symbols_traded/tickcsv/?mkt=bxe
CXE https://www.bats.com/europe/equities/market_statistics/symbols_traded/tickcsv/?mkt=cxe
TRF https://www.bats.com/europe/equities/market_statistics/symbols_traded/tickcsv/?mkt=trf
LIS https://www.bats.com/europe/equities/market_statistics/symbols_traded/tickcsv/?mkt=cxe&lis=t

Certification (UAT) Symbol Reference Data file requests made to batstrading.co.uk URLs are now being redirected to the bats.com equivalent URLs.

Please refer to the Reference Data Specification for Symbol and Tick data URLs and file names.

Please contact the Trade Desk or your Account Manager if you have any questions.

All current and historical Bats notices are available online at https://www.bats.com/europe/equities/notices/.

Trade Desk
Bats Europe ... Making Markets Better
P: +44.207.012.8901
E: TradeDeskEU@bats.com
www.batstrading.co.uk
* BATS Trading Limited is a Recognised Investment Exchange regulated by the Financial Conduct Authority.

Bats Europe: Annual Disaster Recovery Test - Saturday 11th March 2017

January 26, 2017 16:59:41

Dear Bats Europe Participants

Annual Disaster Recovery test - Saturday 11th March 2017

Bats Europe will be conducting its annual disaster recovery (DR) test on the Production BXE and CXE integrated order books and TRF environment on Saturday 11th March 2017. Please note this will be the final DR test prior to the implementation of Mifid II in January 2018. The purpose of this testing day is for Bats Europe to simulate various DR failover scenarios, including a test of market failover from its primary data centre at Equinix Slough (LD4) to its secondary data centre at Equinix Park Royal (LD3). Participant attendance is not mandatory but is strongly recommended as this exercise affords Participants the ability to observe how their trading, trade reporting and market data applications would function in the event of a DR event at Bats Europe.

Participants should note the following:

* Change Freeze - Participants wishing to take part in the DR test must submit any outstanding requests for new ports by 16:00 UK time on Thursday 9th March. No new port requests will be processed on Friday 10th March.
* Production Data - Please ensure that your Production systems are configured not to send Production trade reports when Bats Europe systems come up on the morning of Saturday 11th March, as all data from that day will be discarded as test data.
* Disaster Recovery Test Schedule of Activities - Attached.

Key contacts on the day

* The standard Bats Europe support contacts will be available from 07:00 until 12:40 UK time:

o NOC: NOCEurope@bats.com +44 20 7012 8905

o Trade Desk: TradeDeskEurope@bats.com +44 20 7012 8901

Conference Bridge

* There will be an one-way conference bridge open from 07:30 and close at 12:40 UK used by Bats Europe staff to disseminate regular progress updates throughout the day.

* Details of the conference bridge will be sent out closer to the DR test date.

Please contact the Trade Desk or your Account Manager if you have any questions.

All current and historical Bats Europe notices, including symbol universe updates, are available online at www.batstrading.co.uk/alerts.

Trade Desk
Bats Europe ... Making Markets Better
P: +44.207.012.8901
E: TradeDeskEU@bats.com
www.batstrading.co.uk
* BATS Trading Limited is a Recognised Investment Exchange regulated by the Financial Conduct Authority.

REMINDER - Bats Europe: Upcoming Symbol Reference Data file URL changes effective 31st Jan, 2017

January 09, 2017 08:06:11

Dear Bats Europe Participants,

Please be advised that Bats Europe (Bats) will be making URL changes to the Symbol Reference Data files available to download on the Bats public website.
Effective Tuesday, 31st January 2017, Bats will redirect Symbol Reference Data file requests made to batstrading.co.uk URLs to the new bats.com equivalent URLs below.
The new URLs are already available and can be used effective immediately.

Please adjust your systems accordingly so that there is no disruption to your access to these files.

Current Symbol File URLs
BXE http://www.batstrading.co.uk/bxe/market_data/symbol_listing/csv/
CXE http://www.batstrading.co.uk/cxe/market_data/symbol_listing/csv/
TRF http://www.batstrading.co.uk/trf/market_data/symbol_listing/csv/

New Symbol File URLs
BXE https://www.bats.com/europe/equities/market_statistics/symbols_traded/csv/?mkt=bxe
CXE https://www.bats.com/europe/equities/market_statistics/symbols_traded/csv/?mkt=cxe
TRF https://www.bats.com/europe/equities/market_statistics/symbols_traded/csv/?mkt=trf
LIS https://www.bats.com/europe/equities/market_statistics/symbols_traded/csv/?mkt=cxe&lis=t

Current Tick File URLs
BXE http://www.batstrading.co.uk/bxe/market_data/symbol_listing/tickcsv/
CXE http://www.batstrading.co.uk/cxe/market_data/symbol_listing/tickcsv/
TRF http://www.batstrading.co.uk/trf/market_data/symbol_listing/tickcsv/

New Tick File URLs
BXE https://www.bats.com/europe/equities/market_statistics/symbols_traded/tickcsv/?mkt=bxe
CXE https://www.bats.com/europe/equities/market_statistics/symbols_traded/tickcsv/?mkt=cxe
TRF https://www.bats.com/europe/equities/market_statistics/symbols_traded/tickcsv/?mkt=trf
LIS https://www.bats.com/europe/equities/market_statistics/symbols_traded/tickcsv/?mkt=cxe&lis=t

Other data and reporting tools will continue to be supported with the website migration.

Certification (UAT) Symbol Reference Data file requests made to batstrading.co.uk URLs are now being redirected to the bats.com equivalent URLs.

Please contact the Trade Desk or your Account Manager if you have any questions.

All current and historical Bats notices are available online at https://www.bats.com/europe/equities/notices/.

Trade Desk
Bats Europe ... Making Markets Better
P: +44.207.012.8901
E: TradeDeskEU@bats.com
www.batstrading.co.uk
* BATS Trading Limited is a Recognised Investment Exchange regulated by the Financial Conduct Authority.