About Bats Options

Bats Options was founded in February 2010 and consists of two all-electronic markets powered by a proprietary technology platform developed by the Bats team. Bats Options is a division of Bats Global Markets, a leading operator of securities markets in the U.S. and Europe.

An option is a contact to buy or sell a specific financial product known as the option’s underlying instrument or underlying interest. For equity options, the underlying instrument is a stock, exchange-traded fund (ETF) or similar product. The options contract establishes a specific price, called a strike price, at which the contact may be exercised, or acted upon. Contracts also have an expiration date. When an option expires, it no longer has value and no longer exists. For more information options, please view our U.S. Options Market 101.

Bats Options consists of BZX Options and EDGX Options. BZX Options is a pure price-time priority platform that offers penny executions in all options regardless of premium or class; EDGX Options is based on a customer priority/pro rata allocation model. All multiply-listed equity options available for trading in the U.S. are available for trading on Bats Options. Bats Options also offers singly-listed options that are not available on other options exchanges on many different underlyings.

Driven by its mission of "Making Markets Better," Bats Options has become synonymous with great technology, aggressive pricing and outstanding customer service while catering to the needs of the broker-dealer and trading community.