Bats Europe, Europe's second largest alternative share trading platform, has stepped up its battle with the London Stock Exchange by implementing a new strategy for UK-listed stocks, less than a month after its larger rival changed its fees in a bid to regain market share.

Bats Europe, one of the new breed of Europe's so-called multilateral trading facilities, yesterday began charging what it described as a "highly competitive" 0.28 basis points for purchasing LSE-listed stocks through its platform.