Extended regular expressions are codified by the POSIX standard. Their major advantage over BRE is regularity: all standard operators are bare punctuation characters, a backslash before a punctuation character always quotes it. It is the syntax used by awk, grep -E or egrep, BSD (and GNU and soon POSIX) sed -E (formerly sed -r in GNU sed), and bash'sbash / ksh93 / yash / zsh¹'s =~ operator. This syntax provides the following features:
¹ unless the rematchpcre option is enabled in zsh in which case =~ uses PCREs there. ksh93's extended regexps also support some of perl's extended operators such as the look-around ones.