BATS Global Markets Sets Full-Year Market Share Records In All Business Segments - Reports Yearly Average Of 11.9% In U.S. Equities, 3.3% In U.S. Options - BATS Chi-X Europe Reports 24.6% In European Equities

BATS Global Markets (BATS), a leading operator of securities markets in the U.S. and Europe, reported its best annual market share performance across all of its markets in 2012, including 11.9% U.S. equities market share for the year, up from 11.2% in 2011, the previous annual record, and 10.2% in 2010.

BATS Chi-X Europe averaged 24.6% pan-European equities market share for the year, measured by notional value traded, maintaining its position as the largest equity market in Europe during 2012, compared to a pro forma market share of 24.1% a year ago. In the U.S., BATS Options recorded 3.3% market share for the year vs. 3.0% in 2011.

For the month of December, BATS U.S. equities market share was 11.9% vs. 11.2% a year ago and U.S. options market share was 3.5% vs. 2.3%. BATS Chi-X Europe’s pan-European equities market share finished at 23.7% vs. 25.4%.

“December caps the best year in the history of BATS Global Markets, not only from a market share perspective, where we have seen our best performances in each of the markets we operate, but also from a financial results standpoint, as the overall revenue and profitability we achieved for the year was in line with our forecasted goals for 2012,” said BATS Global Markets President and CEO Joe Ratterman. 

“We are excited to start 2013 from a position of strength and look forward to working with the industry on important initiatives such as ‘Limit-Up, Limit-Down’ and the 'Consolidated Audit Trail', which will help improve market resiliency and investor confidence in the U.S. markets and implementing advanced risk management tools for participants in each of our markets in the U.S. and Europe,” he said.

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.

December 2012 Volume and Market Share Summary

U.S. Equities – The BATS Exchanges (BZX Exchange and BYX Exchange)

• Matched Market Share: 11.9%
• Average Daily Matched Volume: 712.9 million shares

U.S. Equity Options – BATS Options

• Matched Market Share: 3.5%
• Average Daily Matched Volume: 538,725 contracts

European Equities – BATS Chi-X Europe

• Overall European Market Share: 23.7%
• Combined Total Notional Value Traded: €112.2 billion 
• Combined Average Daily Notional Value: €5.9 billion 

Full-Year 2012 Highlights 

• On April 30, BATS completed the seamless integration of Chi-X Europe, exactly five months after deal was completed.
• In August, BATS transitioned its secondary data center for all three of its U.S. markets to Chicago, utilizing Savvis’ CH4 data center.
• In October, BATS’ U.S. equities market share hit an all-time high of 13%, a record fifth consecutive month exceeding 12%.
• In November, BATS expanded access to its free risk management and “kill switch” tools to all of its members in the U.S. BATS Chi-X Europe rolled out the risk management tools to its participants in December.
• In November, BATS Chi-X Europe introduced new interbook order types, which offer trading participants access to both lit or both dark order books.
• On December 13, BATS welcomed ProShares, the second major Exchange Traded Fund (ETF) issuer to list on BATS Exchange, with the launch of the ProShares Merger ETF. ProShares and BlackRock’s iShares now list a combined 17 ETFs on BATS Exchange. 
• This month, BATS is scheduled to launch its Retail Price Improvement (RPI) program on January 11, on the BATS BYX Exchange. The program is designed to provide significant cost benefits through price improvement for retail investors.

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

A complete breakdown of December 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

¹Figures 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.

²BXE and CXE non-displayed order books.