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