BATS Chi-X Europe Sets New Monthly Spanish Market Share Record - Overall European Market Share 22.5%; U.S. Equities 10.6%; U.S. Options 3.8%

BATS Global Markets (BATS), a leading operator of securities markets in the U.S. and Europe, today reported March volume and activity including a new monthly market share record in Spain, where BATS Chi-X Europe earned 12.8% market share, exceeding its previous record of 8.9% set in February 2013. 

Over the past two months, the average daily notional value traded on BATS Chi-X Europe in Spain’s IBEX 35 has increased 292% to €247.5 million in March from €63.1 million in January. BATS Chi-X Europe, the largest pan-European equities exchange by notional value traded and market share, recorded overall market share of 22.5% compared to 23.5% in February and 24.3% a year ago. Average daily notional value was €7.9 billion in March vs. €8.0 billion in February.

“BATS Chi-X Europe’s continued momentum in the Spanish market further strengthens our position in one of Europe’s key markets, but our growth in Europe extends well beyond market share,” said Joe Ratterman, chief executive of BATS Global Markets. “The news we announced in March to become a shareholder in the proposed combination of the EuroCCP and EMCF clearinghouses is a significant step forward for our company as it aligns closely with our vision for an integrated pan-European market structure.”

In the U.S., BATS Options reported 3.8% market share in March vs. 2.4% a year ago and 4.0% last month. BATS’ U.S. equities market share came in at 10.6% in March vs. 10.9% a year ago and 11.1% in February.

In March, overall equities industry volumes in the U.S. declined month-over-month and year-over-year. In the U.S., overall equities volume averaged 6.1 billion shares a day in March, down from a daily average of 6.6 billion shares in February and 6.6 billion shares a day one year ago.

In the European securities markets covered by BATS Chi-X Europe, the total consolidated industry average daily notional value traded was up month-over-month to €34.9 billion in March vs. €34.0 billion in February and down from €35.6 billion one year ago.

Additional March Highlights:

• BATS successfully operated all of its U.S. operations from its disaster recovery site for the first time on March 14 as part of its ongoing Business Continuity Planning efforts.  
• BATS Chi-X Europe entered into a Term Sheet to become one of four equal shareholders in the new pan-European clearing house that is being created through the merger of EMCF and EuroCCP. The deal, which is subject to regulatory approval, will create the largest cash equities clearing house in Europe.
• BATS Options listed and began offering free trading on Mini Options on five high-priced and actively-traded securities: Apple, Google, Amazon, SPDR Gold Trust and SPDR S&P 500.
• BATS released new Market Quality Statistics comparing the execution quality across all U.S. exchanges for individual securities, the S&P 500^® Index, the BATS 1000^® Index, and the top 100 U.S. corporate securities and exchange-traded funds.

March 2013 Volume and Market Share Summary

¹Based on BATS Chi-X Europe market coverage, available at www.batstrading.co.uk 

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

A complete breakdown of March 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

²Represent consolidated figures for BATS Europe (BXE) and Chi-X Europe (CXE) lit and dark books, unless otherwise noted.

³BXE and CXE non-displayed order books.