BATS Exchange, a US-based securities exchange, has launched BATS 1000 Index, a US-listed securities benchmark based on the performance of a total of 1000 US-listed securities in 10 defined sectors.
Reportedly, the BATS 1000 Index offers a snapshot of the US equities marketplace by tracking the performance of large-cap, mid-cap and small-cap securities that are classified in 10 sectors. The top 100 securities in each sector are ranked by market capitalization and form the BATS 1000 Index.
BATS Exchange has said that it has developed its own stock classification standard, called Better Alternative Sector Exposure Standard (BASES) towards the creation of BATS 1000 Index. The current value of the index is computed regularly throughout the day based on trades that occur on the BATS Exchange.
Joe Ratterman, chief executive of BATS Global Markets and BATS Exchange, said: “We are pleased to announce the launch of the BATS 1000 as an index designed entirely by BATS analysts and developers that we believe will illustrate a unique perspective on current US market conditions. With an innovative method for maintaining the continuity of the index’s value, we view the BATS 1000 Index as an opportunity to make markets better for investors and add value to the US marketplace with a reliable, well-balanced benchmark.
“The BATS 1000 Index is unique as a listing-neutral broad market indicator sponsored by a US securities exchange, and it is equally weighted among 10 important industry sectors. Compared to other popular market indices, we feel that the movement of the BATS 1000 index will more accurately depict the direction, intensity and mood of the US market,” he added.
