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BATS Global Markets Gains European Market Share In January - Remains Largest European Equities Market Operator With 25.9% By Overall Value Traded; Also Earns 11.1% U.S. Equities Market Share

Date 02/02/2012

BATS Global Markets (BATS), a global operator of stock and options markets, today reported increased European market share in January and strong equities matched market share in the U.S.

BATS reported 11.1% U.S. equities matched market share compared to 10.4% a year ago. In Europe, BATS Europe and Chi-X Europe, which BATS is combining to form BATS Chi-X Europe, recorded consolidated market share of 25.9% compared to 25.4% in December 2011 and 23.8% a year ago. BATS Options reported 3.0% market share compared to 1.3% a year ago.

BATS operates two stock exchanges in the U.S., the BATS BZX Exchange and BATS BYX Exchange; BATS Options, a U.S. equity options market; and BATS Europe and Chi-X Europe, which operate FSA-authorized multilateral trading facilities.

January 2012 highlights for each of the BATS markets are outlined below.

BATS U.S. Equities:

  • BATS U.S. equities reported matched market share of 11.1% in January 2012 up from 10.4% in the same period a year ago.
  • BATS U.S. equities reported average daily matched volume of 766.6 million shares in January 2012.

BATS Options:

  • BATS Options reported matched market share of 3.0% in January 2012, up from 1.3% one year ago, with average daily matched volume of 483,050 contracts.
  • BATS Options’ highest one-day matched contract volume for the month was 738,467 contracts, reported on January 20.

BATS Chi-X Europe:

  • BATS Chi-X Europe reported combined overall European market share of 25.9% in January compared to 23.8% a year ago, making BATS the largest European equities market operator for the second consecutive month since the Chi-X Europe acquisition closed November 30, 2011.
  • BATS Chi-X Europe reported combined total notional value in January of €185.1 billion traded and combined average daily notional value of €8.4 billion.
  • The BATS Chi-X Europe dark pools earned combined average notional value traded of €460.5 million for the month versus €448.2 million a year ago.

Additional company news:

  • On January 12, 2012, BATS announced that iShares would list nine ETFs on the BATS BZX Exchange in the U.S. beginning January 24, 2012, marking BATS’ first primary listings. BATS became a U.S. primary listings venue in December 2011 providing issuers an alternative for initial public offerings (IPOs), stock listing transfers, and dual-listed securities.
  • BATS announced on January 18, 2012, that it will use Savvis’ Chicago CH4 data center as its secondary data center facility for all three of its U.S. markets. The build out of the secondary facility is to be completed in 2012.
  • BATS Chi-X Europe launched four-way interoperable clearing on January 6, 2012, making BATS Europe and Chi-X Europe the first European trading platforms to provide participants a choice of clearer from four interoperating central counterparties: EMCF, EuroCCP, LCH.Clearnet and SIX x-clear.
  • The BATS 1000® Index ended the month up 616.93 points, or 4.3%, to close at 15,007.54. The Index offers a listings-neutral, broad snapshot of the U.S. equities marketplace by tracking the performance of 1,000 securities classified in 10 important industry sectors.
  • Among global equities markets operators in December 2011, BATS remained the third-largest in the world after NYSE Euronext and NASDAQ OMX in terms of value of shares traded, well ahead of competitors in Tokyo, China, London and Germany. In November, all four of BATS’ equity market centers ranked among the top 30 largest in the world, in terms of notional value traded: the BZX Exchange remained ranked #4, Chi-X Europe was ranked #12, the BYX Exchange was ranked #13, and BATS Europe was ranked #30. (January 2012 information for international exchanges is not yet available.)

A breakdown of January volume and market share for each market center is outlined below. To track U.S. and Europe market share for all major trading exchanges and other venues, please visit: http://www.batsglobalmarkets.com/markets/


U.S. Equities*:

 

 

January 2012

January 2011

The BATS Exchanges (BZX & BYX combined) 

(In millions, except percentages)

Average daily matched volume

766.6

845.5

Total notional value traded for the month

$505,634.8

$533,610.6

Market share percentage (for the period):

 

 

Tape A

9.5%

8.5%

Tape B

15.2%

15.2%

Tape C

12.1%

11.9%

Overall matched market share

11.1%

10.4%

 

Volume By Exchange:

 

BZX Exchange:

Average daily matched volume

602.5

717.1

Total notional value traded for the month

$410,636.4

$475,009.7

Market share percentage (for the period):

 

 

Tape A

7.1%

6.8%

Tape B

12.8%

14.0%

Tape C

9.8%

10.3%

Overall matched market share

8.7%

8.8%

 

 

BYX Exchange:

 

 

Average daily matched volume

164.1

128.4

Total notional value traded for the month

$94,998.4

$58,600.8

Market share percentage (for the period):

 

 

Tape A

2.4%

1.7%

Tape B

2.5%

1.2%

Tape C

2.3%

1.6%

Overall matched market share

2.4%

1.6%

 

 

*Volume and notional figures exclude odd-lots.

BATS Options:

 

 

January 2012

January 2011

Contracts

Market share

Contracts

Market share

Average daily matched volume

483,050

3.0 %

227,327

1.3%


European Equities1:

January 2012

January 2011

(In millions, except percentage) 

Combined average daily notional value 

€8,414.7 

€9,616.1 

Combined total notional value

€185,123.2

€201,937.9

Non-displayed2 average daily notional

€460.5

€448.2

 

 

Market share by platform (for the period): 

Overall European market share

25.9%

23.8% 

STOXX Europe 50 securities

28.9%

26.9%

 

 

 

London market overall

34.0%

32.9%

FTSE 100 securities

37.9%

37.6%

FTSE 250 securities

27.8%

27.1%

 

 

 

Paris market overall

27.6%

25.2%

CAC 40 securities

29.7%

27.9%

CAC Next20 securities

26.1%

23.6%

 

 

 

Frankfurt market overall

26.0%

24.5%

DAX 30 securities

27.4%

26.7%

MDAX securities

26.5%

20.8%

 

 

 

Amsterdam market overall

31.2%

28.8%

AEX securities

32.0%

30.0%

 

 

 

Brussels market overall

25.1%

27.4%

BEL 20 securities

27.8%

28.6%

 

 

 

Milan market overall

14.5%

16.7%

FTSE MIB securities

15.3%

17.3%

 

 

 

Zurich market overall

26.7%

27.1%

SMI securities

28.3%

29.4%

SMIM securities

19.6%

10.7%

 

 

 

Nordic market overall

21.8%

17.9%

Helsinki OMXH25 securities

24.3%

23.8%

Stockholm OMXS30 securities

25.3%

22.9%

Copenhagen OMXC20 securities

17.9%

16.8%

Oslo OBX securities

17.4%

8.9%

 

 

 

Additional markets:

Dublin market overall

5.5%

1.5%

Lisbon market overall

15.4%

7.7%

Madrid market overall

3.4%

1.9%

Vienna market overall

16.8%

12.6%

1Figures represent consolidated figures for BATS Europe and Chi-X Europe (lit and dark books), unless otherwise noted.

2 BATS Europe Dark Pool and Chi-Delta dark book