Multicast PITCH allows BATS Europe participants and market data recipients to more efficiently allocate bandwidth to market data feeds and redistribute the data within their own networks. Symbols are separated by market to provide users the flexibility to only receive the data they need.

Developed with a binary protocol, the multicast feed maintains latency nearly half that of the PITCH feed, a point-to-point depth-of-book market data feed.

With the release of Multicast PITCH, BATS Europe introduces a new spin server replay service, which allows users to rapidly catch up should any messages be missed in the event of network or software issues. The spin server lets users reconnect to Multicast PITCH intraday and quickly build a snapshot of the order book without having to replay every message of the day.

Like other BATS' market data feed offerings, Multicast PITCH is free for BATS Europe participants and market data recipients.

"We are pleased to continue making markets better in Europe with the release of Multicast PITCH, a more efficient, low-latency full depth-of-book market data feed," said BATS Europe Chief Operating Officer Paul O'Donnell. "We are releasing the multicast data feed due to customer demand and to further enhance the sustained low-latency trading experience for BATS Europe participants."