Challenger exchange group Bats flies index business into continental Europe with eight new launches
Stock exchange group Bats Europe has today announced eight new benchmark indices across Europe, following the launch of its index business in London earlier this year.
The eight indices, for the French, German, Swiss and Italian markets, will launch on 19 December and provide “real-time, high-quality and low-cost alternatives to those provided by the incumbent index providers”.
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Bats, which unveiled 18 new indices – including Bats UK 100, covering London-listed blue-chips – to take on the FTSE in June, is also planning further expansion in the coming months.
“As the largest pan-European stock exchange, we have unique insights into the needs and challenges of investors across the continent, many of whom have become increasingly frustrated by the rising costs of index data,” said chief executive Mark Hemsley.
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“We are excited to expand our benchmark indices business to these key European markets and provide investors and traders with real-time, high-quality benchmark indices in a cost effective manner as we challenge the incumbent index providers and bring competition to this vital part of market.”
The new indices, which go live next week, will be: Bats France 40, Bats France Mid Cap 20, Bats Germany 30, Bats Germany Mid Cap 50, Bats Germany Small Cap 50, Bats Italy 40, Bats Switzerland 20 and Bats Switzerland Mid Cap 30.