Pan-European multilateral trading facility (MTF) BATS Europe has enlisted information firm Thomson Reuters to provide it with low-latency market data, via its London-based ultra-high speed network hosting environment, Thomson Reuters Elektron.
BATS Europe, launched in October 2008, and according to Thomson Reuters Equities Market Share Reporter had a 5.02% share of the European market by turnover in June 2010. The deal with Thomson Reuters Elektron should allow BATS Europe to view real-time pricing information from major European exchanges in one place – something that is increasingly important as equity trading continues to fragment across European execution venues.
Paul O'Donnell, COO of BATS Europe, commented, “With growing market share and increasing usage of our smart order routing service, reliable low-latency market data is critical to our business. With the addition of the low-latency Thomson Reuters direct feed we continue to meet our participant’s demand for price discovery information from all the key European electronic markets.”
Scott Kennedy, global business manager for direct feeds at Thomson Reuters, added, “As part of the Elektron community, BATS Europe can offer participants access to a low-latency direct feed with the depth and efficiencies of a consolidated feed to their clients through the secure, high performance Elektron network. This agreement illustrates Thomson Reuters commitment and strength in delivering low-latency solutions to the MTF community and their trading customers.”