Bats Global Markets, Inc. (BATS:BATS), the second-largest stock exchange operator in the U.S., has announced the launch of what it is calling the Liquidity Management Provider (“LMP”) Program on The Bats ETF Marketplace, further incentivizing liquidity providers trading exchange-traded products (ETPs) on Bats.
The LMP Program, which was filed with the Securities and Exchange Commission on May 12th, rewards liquidity providers based on their quoting quality in LMP Securities. The list of securities includes all Bats-listed ETPs and certain non-Bats-listed ETPs.
“As the #1 U.S. market for the trading of ETPs, we are pleased to offer this initiative in partnership with our customers and issuers,” said Bryan Harkins, Executive Vice President, Head of U.S. Markets, at Bats. “In addition to our existing Lead Market Maker Program, the LMP Program offers unique economic incentives tied to quoting activity.”
Liquidity providers must enroll to be an LMP for an eligible ETP and may participate as an LMP in multiple listings. Further program information is available on The Bats ETF Marketplace.
Bats Global Markets is a leading global operator of exchanges and services for financial markets. Bats is the second-largest stock exchange operator in the U.S., operates the largest stock exchange and trade reporting facility in Europe, and is the #1 market globally for ETF trading. Bats also operates growing ETF listings venues in the U.S. and Europe, two U.S. options exchanges and Bats Hotspot FX, its global foreign exchange market. ETF.com, a leading provider of ETF news, data and analysis, is a wholly-owned subsidiary of Bats.