Bats Chi-X Europe, the largest pan-European stock exchange, has introduced a new pricing model for one of its markets that will reward high-volume trading members, including banks, brokers and high-frequency trading firms.

The new tiered pricing scheme will be applied retroactively from April 1 for CXE, the former Chi-X Europe market that was acquired by Bats Global Markets in late 2011. It will apply to UK, Irish, French, Dutch, Belgian and Portuguese stocks, depository receipts and exchange-traded funds.