Bats Auction Mechanism
The rollout of the Bats Auction Mechanism (BAM) began on January 4 and will be completed on January 10. Please see the rollout schedule below.
BAM allows Members to facilitate their clients' (agency) orders on the Bats EDGX Options Exchange by broadcasting their orders for price improvement. At the conclusion of the BAM exposure interval, the agency order will trade against the contra party (or parties) specified by the Initiating Member or other responses to the auction.
BAM processing information can be found in the Bats U.S. Options Auction Process specification as well as the relevant order entry specification (refer to Resources section below).
BAM Orders are exposed on both the EDGX Options Multicast PITCH feed and the Bats Options Auction Feed allowing other EDGX Options Exchange participants the opportunity to interact with the BAM Order either through Auction Response Orders or regular marketable orders.
Testing of the new BAM functionality is available in the EDGX Options Certification environment.
|01/04/2016||A – ADRZZ|
|01/05/2016||ADS - DOWAZ|
|01/06/2016||DOWB - MCDAZ (Excluding IWM)|
|01/09/2016||MCDB - ZZZZZ (Excluding QQQ and SPY)|
|01/10/2016||IWM, QQQ, SPY|
Please contact the Bats Trade Desk (firstname.lastname@example.org, 913.815.7001) or your Director of Sales with any questions. We appreciate your continued support of Bats and look forward to earning more of your business.