Bats Indices market data comprises:
- Real-time index values
- Daily files for each index that provide the following; closing and opening index constituents, constituent sector classifications, historic index values and corporate action data
The options below detail solutions for accessing the Bats indices.
Real-time index values
On the Bats website and via media client platforms:
For viewing the index values on a publicly available website there are no fees and no reporting or contractual obligations with Bats, as long as the usage is limited to view only.
In a vendor’s terminal product:
Contact your data vendor. Viewing the index values in a terminal-based product there are no fees and no reporting or contractual obligations with Bats, as long as the usage is limited to view only.
For a vendor’s data-feed product:
In order to obtain the data on a data feed, an agreement with Bats must be executed and possibly another agreement with the Stuttgart Exchange* (see below for explanation). The Stuttgart licence does not attract any fees. Fees from Bats depend on the index and the nature of usage.
Bats’ real-time index values are disseminated by Bats’ index calculation agent primarily via the Stuttgart Exchange. Other mechanisms, such as those provided by Web Financial Group, provide the data independently of Stuttgart.
* If your vendor obtains Bats Index data from Stuttgart, and you do not already have a data agreement in place with Stuttgart, you will need to enter into a Re-vendor agreement with Stuttgart. The policy of the Stuttgart exchange is to ask all data-feed users of third party index content to sign an agreement acknowledging that they are aware of the limitations of use imposed by the owner of the intellectual property (i.e. Bats in this case).
Index data files
Bats provides its index data files to licensed users and their vendors via a daily download from its secure website. Specifically the following types of files are provided:
- Opening and closing constituent data – including FactSet Level 1 sector classifications
- Corporate action
- FactSet Levels 1–4 sector classifications, for the relevant FactSet universe
- Historic closing value
File layouts and example files can be provided on request.
Licensees will be able to review all Bats index data made available to them during the period in which they have a subsisting licence.