BATS Global Markets (BATS) today reported January volume, market share, and monthly highlights including record market share for BATS Options of 8.8% and one of its strongest months on record in European equities with 24.2% market share.
- The 8.8% record for BATS Options in January was up from 6.3% in December 2014 and 3.3% one year ago. BATS Options also set a one-day market share record of 10.4% on January 28. In January, BATS Options reported 10 days where market share topped 9.0%, a new record for the growing business.
- In the U.S., BATS successfully completed the integration of the Direct Edge stock exchanges, EDGX and EDGA, to proprietary BATS technology on January 12th and reported a month-over-month increase in market share, all the while the company was completing its technology integration. January market share was of 20.9% vs. 20.8% in December 2014, and up from 10.2% in January 2014. Average daily matched volume on the BATS Exchanges was 1.5 billion shares.
- In Europe, BATS Chi-X Europe – the region’s largest exchange – reported 24.2% overall market share, its best month since July 2013. Average daily notional value traded was €13.6 billion, the highest in the exchange’s history. Year-on-year, market share rose in 12 of the 15 markets BATS Chi-X Europe covers.
- BATS Chi-X Europe also set a new monthly market share record of 21.2% in Spain’s IBEX 35, with a new one day record on January 21 when market share topped 25.9%. For reference, in January 2013, monthly market share of IBEX 35 stocks was 4.4%.
- In January, more than €358.9bn was reported to BXTR, BATS Chi-X Europe’s trade reporting facility.
- On January 28th, BATS announced it had agreed to acquire the Hotspot FX market. Closing of the deal is expected in the first half of 2015, and represents further expansion into non-equity trading businesses for BATS as it enters the world’s largest asset class.
- Also in January, in an open letter to the industry, BATS proposed market structure initiatives designed to benefit all investors and issuers, including the elimination of a one-size-fits-all U.S. equity market, and a reduction in access fees for highly liquid securities by more than 80%.
- BATS completed its office expansion at 17 State Street in lower Manhattan. All New York area associates are now based at this office.
January 2015 Volume and Market Share Summary
|
U.S. Equities (BATS Exchanges – BZX, BYX, EDGA, EDGX) |
January 2015 |
|
Overall Industry – Average Daily Consolidated Volume |
7.29 billion shares |
|
BATS Exchanges – Matched Market Share |
20.9% |
|
BATS Exchanges – Average Daily Matched Volume |
1.53 billion shares |
|
U.S. Equity Options (BATS Options) |
|
|
BATS Options – Matched Market Share |
8.8% |
|
BATS Options – Average Daily Matched Volume |
1,525,072 contracts |
|
European Equities (BATS Chi-X Europe) |
|
|
Pan-European Consolidated Volume1 – Average Daily Notional Value |
€56.4 billion |
|
BATS Chi-X Europe – Overall European Market Share |
24.2% |
|
BATS Chi-X Europe – Total Notional Value Traded |
€286.0 billion |
|
BATS Chi-X Europe – Average Daily Notional Value |
€13.6 billion |
|
European Trade Reporting (BXTR) |
|
|
BXTR – Total Notional Value Reported |
€358.9 billion |
|
BXTR – Average Daily Notional Value Reported |
€17.1 billion |
1Based on BATS Chi-X Europe market coverage, available at www.batstrading.co.uk
Additional details regarding BATS’ volume and market share data by market – U.S. equities, U.S. equity options, and European equities – is outlined below.
U.S. Equities – BATS Exchanges Volume and Market Share Statistics
Market Quality Statistics
- During January, the BZX Exchange ranked 1st or 2nd in quality of trading in 74% of the stocks in the S&P 500® Index, as measured by effective spread, according to the BATS market quality statistics.
- Combined, the BZX Exchange and EDGX Exchange had the lowest effective spread in 13 of the top 25 exchange-traded products.
|
BATS Exchanges (BZX, BYX, EDGA, EDGX) – Market Volume Summary, Volume, and Statistics |
||
|
|
January 2015 |
January 20142 |
|
BATS Exchanges percentage of overall U.S. equities market share |
20.9% |
10.2% |
|
Average daily volume (ADV) traded on BATS Exchanges |
1.53 billion shares |
706.8 million shares |
|
Total industry volume |
7.29 billion shares |
6.94 billion shares |
|
Total notional value traded on BATS Exchanges |
$1.24 trillion |
$597.3 billion |
|
Average daily notional value traded on BATS Exchanges |
$62.0 billion |
$28.4 billion |
|
BATS overall market share – Tape A securities |
19.0% |
9.1% |
|
BATS overall market share – Tape B securities |
25.1% |
14.5% |
|
BATS overall market share – Tape C securities |
21.5% |
9.7% |
|
BATS overall market share in ETF trading3 |
25.3% |
15.8% |
|
BATS 1000 Index monthly performance and close |
-2.9% 22,302.48 |
-3.4% 20,115.84 |
2BATS BZX and BYX Exchange data only
3Based on ArcaVision.com data
To track U.S. equities market share for all major trading exchanges and off-exchange trading, please view the BATS U.S. Equities Market Volume Summary.
U.S. Equity Options – BATS Options Volume and Market Share Statistics
- The five most actively-traded options classes on BATS Options during January were the Standard & Poor’s Depositary Receipt ETF Trust (SPY), Apple Inc. (APPL), PowerShares QQQ Trust, Series 1 ETF (QQQ), iShares Russell 2000 Index ETF (IWM), and the iPath S&P 500 VIX Short-Term Futures ETN (VXX).
|
BATS Options Market Share and Volume |
||||
|
|
January 2015 |
January 2014 |
||
|
|
Contracts |
Market share |
Contracts |
Market Share |
|
Average daily matched volume |
1,525,072 |
8.8% |
598,841 |
3.3% |
To track U.S. options market share for all major trading exchanges, please view the BATS U.S. Options Market Volume Summary.
European Equities – BATS Chi-X Europe Volume and Market Share Statistics
To track European market share for all major trading exchanges and other venues, please view the BATS Pan-European Market Volume Summary.
|
BATS Chi-X Europe Market Share by Market 4 |
||
|
|
January 2015 |
January 2014 |
|
|
(In millions, except percentages) |
|
|
BATS Chi-X Europe overall market share |
24.2% |
22.1% |
|
BATS Chi-X Europe Average daily notional value |
€13,618.6 |
€9,031.8 |
|
Displayed average daily notional value |
€12,252.2 |
€8,174.5 |
|
Non-displayed5 average daily notional value |
€1,366.4 |
€857.3 |
|
|
|
|
|
London market overall |
25.9% |
25.4% |
|
FTSE 100 securities |
27.6% |
27.8% |
|
FTSE 250 securities |
23.3% |
20.7% |
|
Nordic market overall |
25.2% |
24.3% |
|
Helsinki OMXH25 securities |
27.5% |
25.1% |
|
Stockholm OMXS30 securities |
26.7% |
27.1% |
|
Copenhagen OMXC20 securities |
27.1% |
21.3% |
|
Oslo OBX securities |
22.9% |
23.6% |
|
Frankfurt market overall |
26.5% |
22.9% |
|
DAX 30 securities |
27.6% |
24.9% |
|
MDAX securities |
31.6% |
20.7% |
|
TecDAX securities |
25.1% |
14.0% |
|
Zurich market overall |
19.9% |
21.6% |
|
SMI securities |
21.3% |
23.9% |
|
SMIM securities |
20.6% |
18.4% |
|
Paris market overall |
27.0% |
23.7% |
|
CAC 40 securities |
27.7% |
24.9% |
|
CAC Next20 securities |
31.0% |
23.5% |
|
Brussels market overall |
28.5% |
23.0% |
|
BEL 20 securities |
28.3% |
24.7% |
|
Amsterdam market overall |
26.7% |
21.6% |
|
AEX securities |
27.3% |
22.5% |
|
AMX securities |
24.9% |
15.4% |
|
Vienna market overall |
21.3% |
16.1% |
|
ATX securities |
22.2% |
16.6% |
|
Milan market overall |
15.8% |
12.8% |
|
FTSE MIB securities |
16.6% |
13.9% |
|
Madrid market overall |
21.2% |
17.4% |
|
IBEX 35 securities |
21.9% |
18.2% |
|
Lisbon market overall |
15.0% |
9.2% |
|
PSI-20 securities |
15.1% |
9.6% |
|
Dublin market overall |
12.5% |
7.7% |
|
ISEQ 20 securities |
13.3% |
7.8% |
|
Key Indices |
|
|
|
EUROSTOXX 50 securities |
24.8% |
22.9% |
|
FTSE RIOB |
8.5% |
9.0% |
4Represent consolidated figures for BXE and CXE lit and dark books, unless otherwise noted.
5BXE and CXE non-displayed order books.
