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BATS Global Markets, an innovative global financial markets technology company, reports that BATS Exchange recorded 9.3% US matched market share in December and earned record average daily matched volume in 2009.
BATS Exchange’s 2009 average daily matched volume of 1 billion shares represents an increase of approximately 20% from 830.6 million in 2008.
BATS Europe, the fast-growing Multilateral Trading Facility (MTF), earned record overall European market share for the fourth consecutive month with approximately 4.0% in December and set a new market share record in the FTSE MIB with 5.8% for the month. BATS Europe also recorded approximately 8.0% market share in the FTSE 100 and 5.1% in the FTSE 250, its second highest average monthly showing in the two indices.
The BATS Europe MTF experienced tremendous growth during 2009 and ended the year with average daily notional value traded of more than €917 million for all markets, compared to €228 million in January, an increase of more than 300%.
“We are very pleased with the tremendous progress we made in 2009 in both our US and European business divisions. We have been encouraged to see our London based team lead the industry in several critical market structure initiatives, including symbology, tick sizes, and clearing interoperability. Looking at 2010, we are on schedule to launch BATS Options and a second equities platform in the first half of the year and also look forward to going live with our primary listings business,” said Joe Ratterman, CEO of BATS Exchange and BATS Global Markets.
“In the past year, BATS has made numerous technology upgrades to our system, including dramatic enhancements in order latency during the fourth quarter. Order latency was improved by approximately 150 microseconds, taking our average latency to under 250 microseconds. We believe these additions and improvements to our core system will serve our customers well. As we look forward to making markets better in 2010 and beyond, we thank our investors and customers globally for their continued support,” he said.
Additional 2009 Highlights:
- Just three months after going live as a licensed US equities exchange, BATS Exchange ranked as the world’s third-largest stock exchange operator in terms of notional value traded in January, a position it maintained for most of 2009.
- Announced plans to launch US equities options trading in early 2010 and in November filed its options rule set with the Securities and Exchange Commission (SEC).
- Announced plans to launch a second US equities trading platform, also early in 2010, and filed a rule set with the SEC in October. •
- Launched the BATS 1000SM Index, a US-listed securities benchmark based on the performance of 1000 US securities in 10 equally-weighted sectors using a new sector classification system designed by BATS Exchange. The BATS 1000 Index closed at 12,241.79 on December 31 compared to a starting value of 10,000 on its inception date, July 1, 2009, an increase of more than 22%.
- Announced plans to launch a US listings market during summer of 2010 to provide current and future public companies and exchange traded funds with a competitive alternative to incumbent exchanges.
- BATS Europe led European equity market structure initiatives including tick size standardization, development of a common symbology and interoperable counterparty clearing, with significant progress in each area.
BATS Exchange December Volume & Market Share Summary:
- Average total handled volume of 824.5 million shares daily (includes odd-lots)
- Average matched volume of 683.3 million shares daily (excludes odd-lots)
- Average internal match rate of 84.2%
- Matched market share for Tape A securities of 7.4%
- Matched market share for Tape B securities of 14.9%
- Matched market share for Tape C securities of 10.6%
- Matched market share for all securities of 9.3%
- Total notional value traded of more than $403 billion (excludes odd-lots)
BATS Europe December Volume & Market Share Summary:
- Average daily notional value traded of €917.2 million for all markets
- Average daily notional value traded of €32.2 million for the BATS Europe Dark Pool
- Market share for FTSE 100 securities of 7.9% (second best month ever)
- Market share for FTSE 250 securities of 5.1% (second best month ever)
- Market share for FTSE MIB securities of 5.8% (new record)
- Market share for CAC 40 securities of 3.7%
- Market share for DAX 30 securities of 3.7% (second best month ever)
- Market share for AEX securities of 3.4%
- Market share for all securities of 3.9% (new record)
