BATS Readies MiFID 2-Compliant Data Policy
BATS Europe will offer two commercial policies for its data──its existing policy, and one designed to help firms affordably meet the requirements of MiFID 2.
The RTS 14 component of MiFID 2 requires trading venues to disaggregate their datafeeds in an unbundled fashion, separating pre- and post-trade information, not only by asset class, but also by country of issue, trading currency, and also whether they are traded by separate auction versus continuous trading.
BATS Europe chief operating officer David Howson says the exchange has interpreted this to mean that venues will not be required to provide a datafeed for “every potential slice and cross
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