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BATS Global Markets (BATS), a leading operator of securities markets in the U.S. and Europe, reported November data, including the third best U.S. equities market share in its history (12.7%), a record fifth consecutive month above 12%.
BATS Chi-X Europe reported market share of 25.3%, maintaining its position as the largest equity market in Europe during 2012. BATS Options reported 3.6% market share, up from 3.1% one year ago.
Overall, the industry’s volumes are lower than a year ago, and yet despite these industry headwinds we’re pleased to report that BATS Global Markets continues to grow, not only in market share but also in overall profitability,” said Joe Ratterman, president and chief executive of BATS Global Markets. “The past year has been our best on almost every level and we plan to continue our growth in 2013 and beyond.
“We look forward to the launch of our recently approved Retail Price Improvement program in the U.S. in mid-December and are excited about the recent release of new risk management tools, including a customer-driven ‘kill switch,’” he said. “And we’re proud of the hard work of our team and support of our customers who have helped us maintain our strong position in Europe one year after the completion of our acquisition of Chi-X Europe.”
BATS operates two stock exchanges in the U.S. – the BATS BZX Exchange and BATS BYX Exchange (the BATS Exchanges); BATS Options, a U.S. equity options market; and BATS Chi-X Europe, the largest equity market in Europe.
November 2012 Volume and Market Share Summary
U.S. Equities – The BATS Exchanges (BZX Exchange and BYX Exchange)
- Matched Market Share: 12.7%
- Average Daily Matched Volume: 787.8 million shares
U.S. Equity Options – BATS Options
- Matched Market Share: 3.6%
- Average Daily Matched Volume: 561,574 contracts
European Equities – BATS Chi-X Europe
- Overall European Market Share: 25.3%
- Combined Total Notional Value Traded: €150.6 billion
- Combined Average Daily Notional Value: €6.8 billion
November 2012 Highlights
- BATS expanded access of its risk management tools, including a kill switch, to all members of its U.S. equities and equity options markets to help them mitigate risk. The customizable port-level risk management tools are available free of charge with no additional latency incurrent on inbound orders to BATS.
- BATS received approval from the Securities and Exchange Commission (SEC) on its Retail Price Improvement (RPI) program. The program is designed to provide significant cost benefits through price improvement for retail investors and will launch mid-December on the BATS BYX Exchange.
- BATS Chi-X Europe recently unveiled updated trading tariffs for 2013 and will be offering the lowest liquidity removal rate in Europe on its BXE lit order book.
Volume and Market Share Statistics by Market – U.S. Equities, U.S. Equity Options, European Equities
A complete breakdown of November 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.bats.com/markets
|
U.S. Equities (The BATS Exchanges) |
|
|
|
|
November 2012 |
November 2011 |
|
The BATS Exchanges (BZX & BYX combined) |
(In millions, except percentages; volume and notional figures exclude odd-lots) |
|
|
Average daily matched volume |
787.8 |
843.6 |
|
Total notional value traded for the month |
$550,447.9 |
$605,286.8 |
|
Market share percentage (for the period): |
|
|
|
Overall matched market share |
12.7% |
11.5% |
|
Tape A |
11.4% |
9.8% |
|
Tape B |
15.5% |
14.9% |
|
Tape C |
13.7% |
12.7% |
|
|
|
|
|
Volume By Exchange:
|
|
|
|
BZX Exchange: |
|
|
|
Average daily matched volume |
584.8 |
666.0 |
|
Total notional value traded for the month |
$430,177.4 |
$496,475.9 |
|
Market share percentage (for the period): |
|
|
|
Overall matched market share |
9.5% |
9.1% |
|
Tape A |
7.9% |
7.3% |
|
Tape B |
12.9% |
12.6% |
|
Tape C |
10.4% |
10.4% |
|
|
|
|
|
BYX Exchange: |
|
|
|
Average daily matched volume |
203.0 |
177.6 |
|
Total notional value traded for the month |
$120,270.5 |
$108,810.9 |
|
Market share percentage (for the period): |
|
|
|
Overall matched market share |
3.3% |
2.4% |
|
Tape A |
3.5% |
2.5% |
|
Tape B |
2.6% |
2.3% |
|
Tape C |
3.2% |
2.3% |
|
|
|
|
|
BATS 1000 Index (a broad based U.S. equities market benchmark) |
15,903.30 (10/13/12 close) |
14,266.11 (11/30/11 close) |
|
U.S. Equity Options (BATS Options) |
|
|
|||
|
|
November 2012 |
November 2011 |
|||
|
|
Contracts |
Market share |
Contracts |
Market share |
|
|
Average daily matched volume |
561,574 |
3.6% |
500,081 |
3.1% |
|
|
European Equities3 (BATS Chi-X Europe) |
|
|
|
|
November 2012 |
November 2011 |
|
|
(In millions, except percentage) |
|
|
Total notional value |
€ 150,606.4 |
€196,431.9 |
|
Average daily notional value |
€ 6,845.8 |
€8,928.7 |
|
Displayed average daily notional value |
€ 6,407.9 |
€8,498.6 |
|
Non-displayed4 average daily notional value |
€ 437.9 |
€430.1 |
|
Overall European market share |
25.3% |
25.7% |
|
European Equities3 (continued) |
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|
|
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Market share by market (for the period): |
||
|
|
November 2012 |
November 2011 |
|
London market overall |
28.8% |
33.4% |
|
FTSE 100 securities |
32.4% |
37.9% |
|
FTSE 250 securities |
25.8% |
27.1% |
|
|
|
|
|
Paris market overall |
26.6% |
26.3% |
|
CAC 40 securities |
28.3% |
25.4% |
|
CAC Next20 securities |
25.9% |
26.4% |
|
|
|
|
|
Frankfurt market overall |
26.4% |
26.9% |
|
DAX 30 securities |
27.4% |
29.1% |
|
MDAX securities |
28.6% |
25.2% |
|
|
|
|
|
Amsterdam market overall |
27.0% |
30.2% |
|
AEX securities |
27.5% |
30.9% |
|
AMX securities |
20.3% |
16.7% |
|
|
|
|
|
Brussels market overall |
25.2% |
25.1% |
|
BEL 20 securities |
25.9% |
27.7% |
|
|
|
|
|
Milan market overall |
15.4% |
17.8% |
|
FTSE MIB securities |
16.4% |
18.6% |
|
|
|
|
|
Zurich market overall |
24.6% |
26.5% |
|
SMI securities |
26.7% |
28.7% |
|
SMIM securities |
16.9% |
15.1% |
|
|
|
|
|
Nordic market overall |
27.4% |
21.1% |
|
Helsinki OMXH25 securities |
26.9% |
24.2% |
|
Stockholm OMXS30 securities |
30.9% |
25.3% |
|
Copenhagen OMXC20 securities |
27.2% |
18.1% |
|
Oslo OBX securities |
22.5% |
15.8% |
|
|
|
|
|
Vienna market overall |
18.0% |
12.1% |
|
ATX securities |
18.2% |
12.2% |
|
|
|
|
|
Lisbon market overall |
16.1% |
15.3% |
|
PSI-20 securities |
16.2% |
15.6% |
|
|
|
|
|
Dublin market overall |
5.1% |
4.2% |
|
ISEQ 20 securities |
5.1% |
4.2% |
|
|
|
|
|
Madrid market overall |
4.1% |
2.2% |
|
IBEX 35 securities |
4.2% |
2.2% |
|
|
|
|
|
Key Indices |
|
|
|
EUROSTOXX 50 securities |
24.0% |
24.1% |
3 Figures represent consolidated figures for BATS Europe (BXE) and Chi-X Europe (CXE) lit and dark books, unless otherwise noted. All 2011 figures are on a pro forma basis.
4BXE and CXE non-displayed order books.
