Bats Launches New Benchmark Indices for French, German, Italian and Swiss Markets

Following Successful Launch of UK Indices in June, Bats Expands Real-Time Benchmark Indices to Continental Europe

LONDON--()--Bats Europe (Bats), the region’s largest equities exchange, today announced it will launch eight new benchmark indices for the French, German, Swiss and Italian markets on 19 December 2016. The indices will offer real-time, high-quality and low-cost alternatives to those provided by the incumbent index providers.

“We welcome Bats’ further expansion into the European indices market as we believe that the industry will benefit greatly from choice and competition in the benchmark index space”

Bats launched its index business in June 2016 with the successful introduction of 18 UK equity indices covering large to small cap securities and 12 FactSet-based industry sectors. Bats is building upon this momentum by expanding its index offering across Europe with the addition of new benchmark indices in these four key markets. Bats will continue to expand its index offering into other European national and regional indices over the coming months.

Mark Hemsley, CEO of Bats Europe, said: “As the largest pan-European stock exchange, we have unique insights into the needs and challenges of investors across the continent, many of whom have become increasingly frustrated by the rising costs of index data. We are excited to expand our benchmark indices business to these key European markets and provide investors and traders with real-time, high-quality benchmark indices in a cost effective manner as we challenge the incumbent index providers and bring competition to this vital part of market.”

“We welcome Bats’ further expansion into the European indices market as we believe that the industry will benefit greatly from choice and competition in the benchmark index space,” said Philipp Sfeir, President of SIPUG (Swiss Information Providers User Group).

Following are key facts about the Bats Indices:

  • The Bats Indices are published in real-time. This compares to commonly used indices whose values are often delayed by 15 minutes.
  • The indices provide accurate and reliable index data, transparently calculated, and valued using Bats’ high-quality market data. Bats Europe handles approximately 24% of all European equities trading across 15 major European markets on any given day.
  • The indices are highly correlated with comparable benchmarks that investors use every day and are designed to accurately reflect market moves.
  • Bats has simplified index licensing arrangements, with a long-term commitment to materially reducing costs to all investors.
  • The indices all have a base value of 10,000 as of 31 December 2010, which makes the performance of markets and sectors easy to compare.
  • All indices operate on a common rule set thus providing direct comparability.
  • All Bats indices are available free of charge to media clients to distribute in real time. The indices are also free of charge for vendor and benchmarking purposes.

“We believe the industry will benefit from increased competition and choice when it comes to benchmark indices and we are pleased that Bats is further expanding its index product line into other markets in Europe,” said Rudolf Siebel, Managing Director, German Investment Funds Association BVI.

The eight new Bats Indices are broken down by country as follows:

Index Name       Description
France        
Bats France 40       Largest 40 French issuers ranked by market capitalisation.
Bats France Mid Cap 20       Next 20 largest French issuers (companies ranked 41 to 60) ranked by market capitalisation.
Germany        
Bats Germany 30       Largest 30 German issuers ranked by market capitalisation.
Bats Germany Mid Cap 50       Next 50 largest German issuers (companies ranked 31 to 80) by market capitalisation.
Bats Germany Small Cap 50       Next 50 largest German (companies ranked 81 to 130) by market capitalisation.
Italy        
Bats Italy 40       Largest 40 Italian issuers ranked by market capitalisation.
Switzerland        
Bats Switzerland 20       Largest 20 Swiss issuers ranked by market capitalisation.
Bats Switzerland Mid Cap 30       Next 30 largest Swiss issuers (companies ranked 21 to 50) by market capitalisation.
     

The exchange will take account of, and follow, the relevant International Organization of Securities Commissions (IOSCO) Principles for Financial Benchmarks for its indices. Bats Europe will apply to its regulator, the Financial Conduct Authority (FCA), for approval as a Benchmark Administrator under the incoming Benchmark Regulation.

Additional materials:

About Bats Europe

Bats Europe is Europe’s largest equities exchange and offers trading in more than 5,500 securities across 15 major European markets, over one platform and under one rule book. In addition, Bats Europe’s leading trade reporting service, BXTR, now reports the majority of OTC equity market trading executed in Europe.

Bats Europe is the brand name of Bats Trading Limited, an indirect wholly-owned subsidiary of Bats Global Markets and Recognised Investment Exchange regulated by the Financial Conduct Authority.

About Bats Global Markets, Inc.

Bats Global Markets, Inc., is a leading global operator of exchanges and services for financial markets, dedicated to Making Markets Better. We are the second-largest stock exchange operator in the U.S., operate the largest stock exchange and trade reporting facility in Europe, and are the #1 market globally for ETF trading. We also operate two fast-growing U.S. options exchanges. In the global foreign exchange market, we operate Hotspot. ETF.com, a leading provider of ETF news, data and analysis, is a wholly-owned subsidiary. The company is headquartered in Kansas City with offices in New York, London, Chicago, San Francisco, Singapore and Quito, Ecuador. Visit bats.com and @BatsGlobal for more information.

Forward-Looking Statements

This press release includes certain disclosures which contain “forward-looking statements.” You can identify forward-looking statements because they contain words such as “believes” and “expects.” Forward-looking statements are based on Bats’ current expectations and assumptions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that may differ materially from those contemplated by the forward-looking statements, which are neither statements of historical fact nor guarantees or assurances of future performance. Important factors that could cause actual results to differ materially from those in the forward-looking statements are set forth in our filings with the SEC, including our final prospectus filed pursuant to Rule 424(b) and our quarterly reports on Form 10-Q, under the caption “Risk Factors.”

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