The participants of the Bats’ stock exchanges are registered broker-dealers and include a broad range of financial market participants. The diversity of participants on our various markets is essential to the health and vibrancy of these markets.
Proof of the health of the Bats markets is shown by the quality of the stock prices on Bats Europe, which are better than or equal to the national market in the most active stocks most of the time.*
The following are some examples of the types of firms that trade on our markets.
Automated Market Makers: Electronic market-making firms
Agency Broker: Broker focused solely on agency execution for their customers
Retail: Retail brokers directly routing trades to Bats
Proprietary Trading Firms: Firms that trade for their own account whose primary activity is not market making
Wholesalers: Broker-dealers that function primarily as market makers for retail orders
Local Banks: Banks that offer trading services in a specific country or region
Bulge Bracket: Large investment banks offering trading and research
*Data provided by LiquidMetrix