Market Data Products

The Bats U.S. Equities Exchanges (EDGA, EDGX, BYX and BZX) provide a robust offering of market data options to suit customers’ diverse needs. For bandwidth recommendations for each data feed, please refer to the Connectivity Manual's Bandwidth chapter.

Bats One Feed

(Top + Last Sale + Optional Aggregate Depth)

The Bats One Feed provides cost-effective, high-quality reference quotes and trade data for market participants looking for comprehensive, real-time market data. With one license, market participants receive a unified view of the market from all four Bats U.S. Equities Exchanges: BZX Exchange, BYX Exchange, EDGX Exchange and EDGA Exchange. Two versions of the feed are available — Bats One Summary Feed and Bats One Premium Feed — allowing recipients to select the level of depth they wish to receive. For more information, click here.

To subscribe, please complete the necessary Market Data documents.

Depth

(Full Depth of Book)

Bats Depth is available in Multicast and TCP PITCH and provides real-time, depth-of-book quotations and execution information. Multicast PITCH is offered with nearly half the latency of TCP PITCH and 20% fewer PITCH events. This is achieved by using binary messages (PITCH 2.0). Bats offers a WAN-shaped and Gig-shaped version of the Multicast feed, both available from Bats' primary datacenter. Members or market data recipients may choose one or more of the four Multicast PITCH feed options depending on their location and connectivity to Bats.

Bats TCP PITCH data feed offers uncompressed depth of book quotations and execution information using ASCII messaging (PITCH 1.0).

To subscribe, please complete the necessary Market Data Documents.

Summary Depth

(Aggregate Depth of Book)

Bats Summary Depth will be available in production as of January 3, 2017, and will deliver real-time aggregated depth and trade information in Multicast format. Bats Summary Depth will be disseminated on a per-exchange basis, and can be utilized by customers and vendors to quickly access and distribute aggregated order-book data to employees within their own organizations or provide externally as part of a product offering. Each feed will provide five price-levels of aggregated depth per security, including the bid, ask and share quantity for orders received by each Bats U.S. Equities Exchange as well as the last trade, including time of execution, price and share quantity.

To subscribe, please complete the necessary Market Data Documents.

Top

(Top of Book)

Bats Top is ideal for market data distributors requiring both quote and trade data. Bats Top is a real-time TCP feed that disseminates top-of-book quotations, matched trade price, volume and execution time on a Bats book. The Bats Top feed offers up to a 66% reduction in events and an 84% reduction in bandwidth compared to the Bats' Depth TCP PITCH feed using ASCII messaging (PITCH 1.0). By only showing top-of-book quotes and trades, Bats Top offers a significant reduction in required bandwidth and processing. Bats Top does not send depth-of-book information and does not show hidden or routed orders.

To subscribe, please complete the necessary Market Data Documents.

Last Sale

(Matched Trades Only)

Last Sale is ideal for market data distributors requiring trade data only. It is a real-time, intraday TCP feed that disseminates matched trade price, volume and execution time on a Bats book. Because quotes are not shown, Last Sale results in much less data than other feeds and requires less technology development for users.

To subscribe, please complete the necessary Market Data Documents.

Auction Feed

(Auction Data for Bats-listed securities)

The Bats Auction Feed is a direct data feed product that disseminates price and size information for Bats-listed securities participating in Bats auctions. The Bats Auction Feed may be used by Bats Data Recipients to obtain Opening, Closing, Halt and IPO Auction information. Bats auction information is disseminated every five seconds during the Opening and Closing Auctions and during defined Quote-Only periods for Halt and IPO Auctions.

The Bats Auction Feed is provided to Data Recipients upon request. To request a subscription, please contact Bats Market Data Services at 212.378.8821 or marketdata@bats.com.

DROP

(Member Trading Activity)

Bats DROP is a data feed typically used by clearing firms or Members to monitor trading activity. DROP sessions can be used to obtain execution information about single or multiple Members with proper authorization.

Contact the Bats Trade Desk to sign up: 913.815.7001 or tradedesk@bats.com.

Historical Data

(Quote, Trade and Depth)

Bats Historical Data is available for Bats equity exchange products on a T+1 basis.

Additionally, the most recent three months of data is available via download from the Bats website. Data beyond the most recent three months will be uploaded onto a Bats-provided terabyte drive. There is a single fee per drive, per exchange, no matter how much data is placed on the drive.

How To Subscribe

A Bats Member Portal account is required in order to sign up for Historical Data. If you do not currently have an account, please contact Bats Market Data Services at 212.378.8821 or email marketdata@bats.com. If you already have a Bats Member Portal account, you may login to subscribe.

$500 / month / exchange
Per terabyte drive: $2,500