IB Logo

BATS Chi-X Europe

The 2011 combination of BATS Europe and Chi-X Europe to form BATS Chi-X Europe created the largest European equities exchange by market share and value traded. BATS Chi-X Europe became a Recognised Investment Exchange (RIE) in May of 2013.

BATS Chi-X Europe offers trading in equities across 25 indices and 15 European markets, ETFs, ETCs and international depository receipts. Smart order routing provided by BATS Chi-X Europe facilitates cost-effective access to other MTFs and 13 primary exchanges.

BATS Chi-X Europe has two integrated order books that provide advanced visible and non-displayed order types to participants with aggressive maker-taker pricing, anonymity and price-time priority. Also offered, are two anonymous midpoint dark order books with time-priority matching.

In 2012, BATS Chi-X Europe rolled out interoperable clearing, decoupling trading from clearing and settlement as part of an open market model designed to lower overall trading costs for participants and enable them to more effectively and efficiently manage their risk.

Interoperable clearing allows participants to choose a Central Counterparty (CCP) per market segment. Participants may select from four CCPs to clear their trades: EMCF (European Multilateral Clearing Facility N.V.), EuroCCP, LCH.Clearnet Ltd, and SIX x-clear AG. BATS Chi-X Europe is authorized and regulated by the FSA.