Bats ETP Issuer Incentive Program

The Bats ETP Issuer Incentive Program is an innovative program that rewards issuers as their ETPs grow. This program is unique in that it converts your exchange listing into revenue. Traditionally, ETP issuers pay an annual exchange fee that increases as the product becomes more successful. The Bats Issuer Incentive Program rewards issuers for their product’s success with a rebate based on the product’s Consolidated Average Daily Volume (CADV).

Issuer Incentive Schedule

The table below shows the annual incentive you will receive per product.

CADV Range* Annual Incentive Per ETP
35MM+ $400,000
20–35MM $250,000
10–20MM $100,000
5–10MM $50,000
3–5MM $10,000
1–3MM $3,000

Bats as Your Exchange Partner

Bats values our partnerships with issuers and believes issuers should be rewarded, not penalized for their success. As trading volume increases for an ETP, so does the trading fee revenue earned by the listing exchange. Issuers should share in the revenue their products earn for the exchange. In addition to our Issuer Incentive Program, the Bats ETF Marketplace also does not charge any annual fees for listing on the exchange.

*For product to qualify, the Consolidated Average Daily Volume (CADV) must fall within the range for a consecutive 3-month period.


To learn more about listing on the Bats ETF Marketplace and how we're Making Markets Better® for ETPs, contact the Listings Department at