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BATS Global Markets In January: Direct Edge Merger Closes - Another New Monthly Record In Spain - BATS Chi-X Europe Also Reports New Record in Depositary Receipts Trading - 48.4% Market Share For BXTR Pan-European Trade Reporting Service

Date 12/02/2014

BATS Global Markets (BATS) today announces highlights for January, including the successful merger close with Direct Edge Holdings LLC and new monthly market share records in Europe, including 18.2% in Spain’s IBEX 35 and 9.0% in Depositary Receipts (FTSE ROIB). 

As previously reported, BATS and Direct Edge completed their merger on Jan. 31, combining two customer-focused exchange operators as one of the world’s largest stock market companies. In January, pro forma market share for the company’s combined exchanges (BZX Exchange, BYX Exchange, EDGX, EDGA) totaled 20.54%.

In Europe, BATS Chi-X Europe remains the largest equities exchange with overall market share of 22.1% in January. Also, BATS’ industry leading pan-European trade reporting service BXTR, launched in October, continues to grow with a record 48.4% of OTC equity market share1 in January. In February, the exchange announced it would be the first to introduce Market Model Typology – or MMT. The standard, which will be administered by the FIX Trading Community, aims to facilitate consistent trade reporting of post-trade data across European Union trading venues.

“Building on a pivotal year in 2013, our strong January – capped by the successful completion of our merger with Direct Edge – was a big step forward for the company and our customers,” said BATS Global Markets CEO Joe Ratterman.

“As we make progress on the integration of our two companies and continue to set the pace on numerous fronts in Europe, you can expect to see an enhanced exchange operator that continues to focus on the needs of the customer and bringing even more transparency and efficiency to the industry going forward,” he said.

In other markets, BATS Options reported 3.3% U.S. market share for the month.

January 2014 Volume and Market Share Summary

U.S. Equities1

January 2014

     Overall Industry – Average Daily Consolidated Volume

6.9 billion shares

     Equities Exchanges (BZX, BYX) – Matched Market Share

10.2% 

     Equities Exchanges (BZX, BYX) – Avg Daily Matched Volume

706.8 billion shares 

U.S. Equity Options

 

     BATS Options – Matched Market Share

3.3%

     BATS Options – Average Daily Matched Volume

598,841 contracts

European Equities

 

     Pan-European Consolidated Volume2 – Average Daily Notional Value

€40.9 billion

     BATS Chi-X Europe – Overall European Market Share

22.1%

     BATS Chi-X Europe – Total Notional Value Traded

€198.7 billion 

     BATS Chi-X Europe – Average Daily Notional Value

€9.0 billion 

 

 


Volume and Market Share Statistics by Market – U.S. Equities, U.S. Equity Options, European Equities

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

 

U.S. Equities1

 

January 2014

January 2013

The BATS Exchanges (BZX & BYX combined)

(In millions, except percentages;

volume and notional figures exclude odd-lots) 

      Average daily matched volume

706.8

754.3

      Total notional value traded for the month

$597,261.8

$535,282.2

   Market share percentage (for the period):

 

 

Overall matched market share

10.2%

11.7%

Tape A

9.1%

10.6%

Tape B

14.5%

14.3%

Tape C

9.7%

12.6%

 

 

 

Volume By Exchange:

 

 

BZX Exchange:

 

     Average daily matched volume

571.6

584.1

     Total notional value traded for the month

$488,681.3

$427,332.5

  Market share percentage (for the period):

 

 

Overall matched market share

8.2%

9.1%

Tape A

7.3%

7.8%

Tape B

11.7%

12.0%

Tape C

8.0%

10.0%

 

 

 

BYX Exchange:

 

 

     Average daily matched volume

135.1

170.2

     Total notional value traded for the month

$108,580.5

$107,949.7

  Market share percentage (for the period):

 

 

Overall matched market share

1.9%

2.6%

Tape A

1.8%

2.8%

Tape B

2.8%

2.3%

              Tape C

1.7%

2.6%

 

 

 

BATS 1000 Index

(a broad-based U.S. equities market benchmark)

20,115.84

(01/31/14 close)

16,937.62

(01/31/13 close) 

Additional U.S. Equities Highlights

  • During January 2014, the BATS BZX Exchange ranked 1st or 2nd in quality of trading in 64% of the stocks in the S&P 500® Index as measured by effective spread, according to the BATS market quality statistics. The BZX Exchange also had the lowest effective spread in 11 of the top 25 exchange traded products.

U.S. Equity Options (BATS Options)

 

January 2014

January 2013

 

Contracts

Market share

Contracts

Market share

Average daily matched volume

598,841

3.3%

647,602

3.9%

 

European Equities3 (BATS Chi-X Europe)

 

January 2014

January 2013

 

(In millions, except percentage)

Total notional value

€ 198,699.9

€ 165,454.8

Average daily notional value

€ 9,031.8

€ 7,520.7

Displayed average daily notional value

€ 8,174.5

€ 6,968.1

Non-displayed4 average daily notional value

€ 857.3

€ 552.6

 

Overall European market share

22.1%

 

24.1%

  

 

BATS Chi-X Europe: Market share by market (for the period):

 

January 2014

January 2013

London market overall

25.4%

30.4%

FTSE 100 securities

27.8%

34.1%

FTSE 250 securities

20.7%

26.8%

 

 

 

Nordic market overall

24.3%

25.2%

Helsinki OMXH25 securities

25.1%

23.9%

Stockholm OMXS30 securities

27.1%

28.6%

Copenhagen OMXC20 securities

21.3%

23.0%

Oslo OBX securities

23.6%

20.9%

 

 

 

Frankfurt market overall

22.9%

25.2%

DAX 30 securities

24.9%

26.6%

MDAX securities

20.7%

27.6%

SDAX securities

8.4%

5.8%

 

 

 

Zurich market overall

21.6%

23.4%

SMI securities

23.9%

25.4%

SMIM securities

18.4%

16.1%

 

 

 

Paris market overall

23.7%

25.7%

CAC 40 securities

24.9%

27.9%

CAC Next20 securities

23.5%

23.2%

 

 

 

Brussels market overall

23.0%

24.2%

BEL 20 securities

24.7%

25.4%

 

 

 

Amsterdam market overall

21.6%

25.8%

AEX securities

22.5%

26.7%

AMX securities

15.4%

19.5%

 

 

 

Vienna market overall

16.1%

15.6%

         ATX securities

16.6%

15.9%

 

 

 

Milan market overall

12.8%

13.6%

FTSE MIB securities

13.9%

14.5%

 

 

 

Madrid market overall

17.4%

4.3%

         IBEX 35 securities

18.2%

4.4%

 

 

 

Lisbon market overall

9.2%

12.3%

         PSI-20 securities

9.6%

12.4%

 

 

 

Dublin market overall

7.7%

4.9%

         ISEQ 20 securities

7.8%

5.0%

 

Key Indices

         EUROSTOXX 50 securities

22.9%

22.4%

FTSE RIOB

9.0%

5.4%

 

 

 


  1. BATS will include data from EDGX and EDGA in February 2014 monthly volume press release.
  2. Based on BATS Chi-X Europe market coverage, available at www.batstrading.co.uk 
  3. Represent consolidated figures for BXE and CXE lit and dark books, unless otherwise noted.
  4. BXE and CXE non-displayed order books.