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Revision History

Document VersionDateDescription
1.0.011/25/05Initial Version.
1.1.001/09/06Removed System Event Messages.
1.1.108/21/06Added "Symbology" Section.
1.1.206/18/07Added FAST PITCH link.
1.1.306/18/08Corrected Bats suffix for Convertible called.
1.2.010/06/08Revised wording to reflect transition to Bats Exchange.
1.2.112/03/08Moved Symbology reference to a separate document.
1.3.005/27/09Changed the use of the Display field on Add Order messages.
1.4.008/11/09Removed BOLT references.
1.4.108/26/09Removed SRO quoting reference
1.5.011/09/09
  • Reformatted document based Bats Protocol Specification Template.
  • Updated Side indicator of Trade message to always be set to ‘B’.
1.5.112/14/09Added logic for decoding internal matched vs. routed trades via Execution ID.
1.5.212/16/09Minor updates for clarity.
1.6.001/12/10Long form created for Add Order and Trade messages.
1.6.104/06/10Implemented support for 8 character symbology.
1.6.206/09/10Obfuscate Trade message Order ID by default
1.7.008/16/10
  • Added "Order Representation" Section.
  • Described OrderID obfuscation logic for reserve and hidden orders.
1.8.009/03/10Added Trading Status message definition.
1.8.111/09/10Clarified Modify Order messages were a category of messages and not a specific message type.
1.9.005/09/11
  • Added Auction Update message. Effective Date 10/7/11.
  • Added Quote-Only option to the Halt Status field of the Trading Status message.
  • Removed FAST PITCH reference.
1.9.106/06/11Various changes based on feedback and internal discussions.
1.9.206/27/11Minor formatting update.
1.9.306/30/11Converted Auction Update message buy/sell shares from 6 to 10 byte fields.
1.10.009/09/11
  • Added Auction Summary message. Effective date 10/7/11.
  • The first character of Execution IDs will use "C" for Auction Fills. Effective date 10/7/11.
1.11.003/07/12Added 4 byte MPID to the Add Order (long) message. Effective date 5/7/12.
1.12.009/14/12
  • Added Symbol Clear message. Effective date 02/15/13.
  • Added Retail Price Improvement message support for the BYX Exchange. Effective date 11/05/12 (test symbols) and 01/11/13 (other defined symbols).
1.12.111/09/12Correction made to message type for Symbol Clear message which becomes available effective 01/18/13. Message type updated from "u" to "s".
1.12.212/06/12 Symbol Clear message updated to reflect Stock Symbol length of 8.
1.12.301/10/14Corrected minor typographical errors in Order Executed and Auction Summary sections.
1.12.404/04/14
  • Updated Overview section to confirm this specification will be used for EDGA/EDGX in NY5.
  • Added Printable ASCII data type and corrected Symbol data type definitions to reflect the same.
  • Bats will begin sending Halt Status = T for symbols available for trading at the 8AM ET pre-market session open, effective 10/03/14.
  • Add Order Expanded ParticipantID may indicate "RTL" for retail specified orders in equities.
1.12.506/05/14Add Order Expanded ParticipantID messages indicating retail specified orders in equities changed from "RTL" to "RTAL", effective 10/03/14.
1.12.608/01/14
  • Trading Status of ‘H’ will be implied at system startup effective 10/03/14.
  • Trading Status of ‘A’ will be distributed when orders can be accepted for queuing in preparation for the market open effective date 11/14/14.
  • Trading Status of ‘S’ will be used to indicate an Exchange specific suspension in trading effective 10/03/14.
1.12.710/27/14 Trading Status of ‘S’ will be implied at system startup effective 11/14/14.
1.13.001/25/15Specification title change.
1.13.102/05/15Replaced the "Numeric" data type definition with "Timestamp" for Timestamp fields to more accurately describe the data type. No change in functionality.
1.13.207/14/15
  • Changed name of "Prices" data type to "Price".
  • Replaced the "Numeric" data type definition with "Price" for Price fields to more accurately describe data type. No change in functionality.
1.14.002/19/16Bats branding/logo changes.
1.14.110/17/17Cboe branding/logo changes.
1.15.007/10/18
  • Added support for Cboe Market Close (CMC) in Auction Update and Auction Summary messages effective TBD.
  • Execution IDs that start with ‘M’ are Cboe Market Close trades.
1.15.104/30/19Added Customer Indicator field with new value of 'R' to the Add Order (long) message to indicate a Retail Order on EDGX Equities (effective 07/01/19).
1.15.210/11/19Updated Customer Indicator field with new value of 'R' to the Add Order (long) message to indicate a Retail Order (EDGX only) effective 11/1/19.
1.15.311/4/20Removed effective dates for features that have been released.
1.15.404/27/21Added Periodic Auctions to Auction Update and Auction Summary messages (BYX Only) (Effective 04/14/22 Effective Q3 2021 TBD).
1.15.507/19/21Updated Periodic Auctions effective date to TBD.
1.15.603/25/22Updated Periodic Auctions effective date to 04/14/22 (BYX Only).
1.15.704/11/23Changed Display field to Reserved on Add Order messages.
1.15.805/24/23BYX will disseminate a Retail Price Improvement message when the resting RPI order is priced better than the NBBO (BYX Only) (effective 06/14/23).
1.15.903/15/24Added extended versions of the Add Order, Trade, BZX Auction Update, and BZX Auction Summary messages (effective 06/17/25).
1.15.1009/06/24Effective 11/13/24, Trading Status messages will be sent upon system start up rather than at the start of order acceptance.
1.15.1110/09/24Effective 11/13/24, clarified initial Trading Status messages will be sent upon system start up in addition to sending at the start of order acceptance.
1.15.1201/15/25

Updated with Cboe Titanium branding.

1.15.1304/21/25 Cboe will disseminate Cboe Closing Auction information every 5 seconds between 3:00 and 3:59 p.m. every 1 second between 3:59 and 4:00 p.m. for the Closing Auction (effective 06/06/25).
1.15.1403/23/26Updated Retail Price Improvement Message Fields to indicate RPI will apply to BYX and effective 04/10/26 EDGX.
1.15.1506/30/26
  • Updated Timestamp data type to indicate that negative offsets are possible and will have a minus sign '-' in the left most location.
  • Added Time Reference Message Fields, effective 11/02/26 on BZX and EDGX.
1.15.1609/09/26Updated Auction Update Message Fields to reflect new opening auction behavior (effective 10/05/26).
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