BATS ECN SETUP WITH LASER
All traders are urged to use BATS for Nasdaq and Amex trading. Keep in mind BATS does not work for NYSE trading.
Go to 'Trade-> Program Keyboard'.
Next program a hotkey like F1 to BID on BATS (buying).
Next program a hotkey like F8 to ASK on BATS (selling/shorting).
Next highlight a Level 2 box.
Pull up a stock like INTC.
Let's say INTC is 17.70 X 17.71. And I want to buy 500 at 17.69.
I press Num5, then F1, then Down Arrow (until 17.69), then finally Enter.
*please remember to have num lock off.
Mouse traders must turn on Route On and then select ROUTE= BATS.
Effective August 1, 2008:
Communication and External Charges
Subscribers are responsible for arranging and paying for their own connectivity. Subscribers will
be billed for any other external charges incurred by BATS on the subscriber’s behalf.
Efficient – Reliable – Aggressive - BATS
BATS SMART ORDER ROUTER IMPLEMENTED
Bats Smart Order Routing
The BATS ECN supports the following connectivity methods:
- Cross-Connect: Subscribers that are co-located in the SAVVIS NJ2 datacenter may wish to request that SAVVIS provide and in-house cross-connect from the subscriber’s Point of Presence (PoP) to the BATS ECN. Cross-connection is made with copper Ethernet cabling (i.e. 10/100BaseT), or if the distance is too great for copper, then optical fiber is used with an appropriate media converter. The standard interface provided by BATS is 10/100BaseT Ethernet.
- Extranet Provider: BATS currently connects to several extranet providers, including SAVVIS, BT-RADIANZ, and Yipes. BATS will connect to subscribers via any open and available extranet provider, based on subscriber demand and cooperation from the extranet provider.
- VPN: Subscribers may wish to connect via a Virtual Private Network (VPN) over the Internet, utilizing the IP Security Protocol (IPSec). VPN connectivity is available for certification testing or as the primary or backup production connection. BATS recommends the use of a quick-to-set-up VPN to initiate connectivity to BATS while awaiting permanent private connectivity.
- Point-to-Point: Subscribers wishing to initiate a point-to-point connection to the BATS ECN using leased lines or other network methods (e.g. Frame Relay or ATM) are welcome. BATS may require the subscriber connect via an Ethernet connection, or at the subscriber’s expense, a serial interface may be added to the BATS equipment
Market Data (PITCH) Bandwidth Requirement
Orders (FIX / POUCH) Bandwidth Requirement
BATS recommends that subscribers allocate at least a T1 (1.544 Mbs/sec) if they plan to receive quotes via PITCH. As the number of subscribers increases, the PITCH market data feed bandwidth requirement will also continue to grow. Subscribers will be notified of PITCH bandwidth requirements as the requirements change.
Bandwidth recommended for submitting orders via FIX or POUCH depends on expected subscriber order volume. If a subscriber intends to submit orders to BATS and will not receive the PITCH quote feed, then it is possible that the subscriber can connect with less than a T1 equivalent connection. The following table shows the maximum number of inbound orders (and/or cancels) per second that can be handled, with no buffering or delay, with different capacity connections:
||Example Connection Rates
||75 / second
||150 / second
||450 / second
||125 / second
||250 / second
||750 / second
It is also recommended that subscribers use redundant connectivity via multiple telecommunications providers. Please note that BATS will automatically cancel all open subscriber orders if/when communication is lost.