Market Overview

BATS Exchange Welcomes the iShares Convertible Bond ETF


BATS Global Markets (BATS), the leading U.S. market for the trading of exchange-traded funds (ETFs), welcomes the iShares Convertible Bond ETF (BATS: ICVT), an indexed bond ETF, which begins trading today on BATS Exchange.

The underlying index for the iShares Convertible Bond ETF is a subset of the Barclays U.S. Convertibles: Cash Pay Bonds Index, which is one of four classes of the Barclays U.S. Convertibles Index and measures the performance of the U.S. dollar-denominated convertibles market. The underlying index is market capitalization-weighted and consists of only cash pay convertible bonds. More information is available on the iShares website.

There are now 22 ETFs from iShares listed on BATS Exchange in the U.S. and earlier this week, BATS announced that the iShares MSCI India ETF (BATS: INDA) had graduated from the Competitive Liquidity Provider (CLP) program as it had established consolidated average daily volume (CADV) of more than one million shares for three consecutive months.

BATS ranks as the top exchange operator for ETF trading with the BATS Exchanges – BYX, BZX, EGDA, EDGX – executing 26.1% of all ETF trading in May. BATS has been the #1 U.S. market for ETF trading for every month of 2015 while remaining the #2 U.S. market for overall equities trading. BATS is also the leader in market quality for ETFs and, in May, the BATS U.S. equity exchanges had the lowest effective spread in 51 of the top 100 exchange-traded products, according to the BATS market quality statistics.

BATS does not charge an annual fee for issuers to list on BATS Exchange. Additionally, BATS is focused on improving market quality for every product that lists on the Exchange through the innovative CLP and Lead Market Maker (LMM) programs. The iShares Convertible Bond ETF is participating in the CLP program.

Additional information on the BATS Listings program is available on the BATS Listings website. ETF issuers interested in learning more may email


About BATS Global Markets, Inc.

BATS Global Markets, Inc., a leading global operator of exchanges and services for financial markets, is committed to Making Markets Better for traders, investors and issuers. In Europe, BATS operates the largest pan-European equities exchange, offering trading and listing services across 15 major European markets, as well as BXTR, the continent's largest trade reporting facility. In the U.S., BATS operates four stock exchanges – BZX, BYX, EDGX and EDGA – and regularly ranks as the top market for ETF and retail-driven liquidity. The company is a listing venue for ETFs and other structured products, also operates a U.S. equity options market, BATS BZX Options, and is launching BATS EDGX Options later in 2015. Globally, BATS serves the foreign exchange (FX) market, the world's largest asset class, with Hotspot, a leading institutional spot foreign exchange market. With its world-class technology and relentless customer focus, BATS strives to bring efficiency, transparency and fairness to market participants. The company is headquartered in Kansas City with offices in New York, London, Chicago and Singapore. Further information on BATS can be found at and by following us on Twitter @BATSGlobal.


BATS and its affiliates do not recommend or make any representation as to possible benefits from any securities or investments, or third-party products or services. Investors should undertake their own due diligence regarding their securities and investment practices. This press release speaks only as of this date. BATS disclaims any duty to update the information herein.

BATS Global Markets
Stacie Fleming (KC), +1 913-815-7193
Randy Williams (NYC), +1 212-378-8522

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