BATS Global Markets (BATS) today reported February volume, market share, and monthly highlights including its second best month on record for U.S. Options market share, which was 8.2%, up from 3.6% one year ago.
- In the U.S., February market share was 20.7%, up from 20.4% one year ago. Average daily matched volume on the BATS Exchanges was 1.41 billion shares vs 1.43 billion a year ago.
- In Europe, BATS Chi-X Europe – the region’s largest equities exchange – reported 23.7% overall market share. Average daily notional value traded was €12.3 billion, up substantially from €8.9bn in February 2014. Year-on-year, market share rose in 14 of the 15 markets BATS Chi-X Europe covers.
- BXTR, BATS Chi-X Europe’s trade reporting facility, had its second-most successful month ever with more than €369.3bn reported in total during February, an average of €18.5bn each trading day.
- On February 24th, BATS announced that Chris Concannon will be appointed to the additional role of chief executive officer, effective March 31, 2015. Joe Ratterman will assume the role of chairman of the BATS board.
- BATS welcomed two new exchange-traded funds (ETF) to its U.S. listings market. The KraneShares Emerging Markets Plus ETF commenced trading on February 17th and the iShares U.S. Fixed Income Balanced Risk ETF commenced trading on February 26th.
- On February 3rd, BATS announced that it had formally filed a petition for rulemaking on market structure reform with the Securities and Exchange Commission (SEC) and issued a call-to-action to the industry to drive regulatory reform.
- BATS continues to make progress towards the closing of its acquisition of the Hotspot FX market, with closing scheduled for March 13th.
February 2015 Volume and Market Share Summary
| U.S. Equities (BATS Exchanges – BZX, BYX, EDGA, EDGX) | February 2015 | |||
| Overall Industry – Average Daily Consolidated Volume | 6.79 billion shares | |||
| BATS Exchanges – Matched Market Share | 20.7% | |||
| BATS Exchanges – Average Daily Matched Volume | 1.41 billion shares | |||
| U.S. Equity Options (BATS Options) | ||||
| BATS Options – Matched Market Share | 8.2% | |||
| BATS Options – Average Daily Matched Volume | 1,280,060 contracts | |||
| European Equities (BATS Chi-X Europe) | ||||
| Pan-European Consolidated Volume1 – Average Daily Notional Value | €52.2 billion | |||
| BATS Chi-X Europe – Overall European Market Share | 23.7% | |||
| BATS Chi-X Europe – Total Notional Value Traded | €246.8 billion | |||
| BATS Chi-X Europe – Average Daily Notional Value | €12.3 billion | |||
| European Trade Reporting (BXTR) | ||||
| BXTR – Total Notional Value Reported | €369.3 billion | |||
| BXTR – Average Daily Notional Value Reported | €18.5 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 February, the BZX Exchange ranked 1st or 2nd in quality of trading in 67% of the stocks in the S&P 500® Index, as measured by effective spread, according to the BATS market quality statistics.
- Combined, the BATS Exchanges – BYX, BZX, EDGA, EDGX – had the lowest effective spread in 25 of the top 50 exchange-traded products.
| BATS Exchanges (BYX, BZX, EDGA, EDGX) – Market Volume Summary, Volume, and Statistics | ||||||||
| February 2015 | February 2014 | |||||||
| BATS Exchanges percentage of overall U.S. equities market share | 20.7% | 20.4% | ||||||
| Average daily volume (ADV) traded on BATS Exchanges | 1.41 billion shares | 1.43 billion shares | ||||||
| Total industry volume | 6.79 billion shares | 7.01 billion shares | ||||||
| Total notional value traded on BATS Exchanges | $1.05 trillion | $1.1 trillion | ||||||
| Average daily notional value traded on BATS Exchanges | $55.4 billion | $57.3 billion | ||||||
| BATS overall market share – Tape A securities | 18.8% | 18.1% | ||||||
| BATS overall market share – Tape B securities | 24.3% | 26.0% | ||||||
| BATS overall market share – Tape C securities | 22.0% | 21.0% | ||||||
| BATS overall market share in ETF trading2 | 24.4% | 26.6% | ||||||
| BATS 1000 Index monthly performance and close | +4.8% 23,365.95 | +4.3% 20,979.74 | ||||||
2Based 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 February were the Standard & Poor’s Depositary Receipt ETF Trust (SPY), Apple Inc. (APPL), iShares Russell 2000 Index ETF (IWM), Facebook Inc. (FB), and the iPath S&P 500 VIX Short-Term Futures ETN (VXX).
| BATS Options Market Share and Volume | |||||||||||||
| February 2015 | February 2014 | ||||||||||||
| Contracts | Market share | Contracts | Market Share | ||||||||||
| Average daily matched volume | 1,280,060 | 8.2% | 633,237 | 3.6% | |||||||||
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 Market3 | ||||||||
| February 2015 | February 2014 | |||||||
| (In millions, except percentages) | ||||||||
| BATS Chi-X Europe overall market share | 23.7% | 21.9% | ||||||
| BATS Chi-X Europe Average daily notional value | €12,339.4 | €8,885.7 | ||||||
| Displayed average daily notional value | €11,106.0 | €8,093.3 | ||||||
| Non-displayed4 average daily notional value | €1,233.4 | €792.4 | ||||||
| London market overall | 24.4% | 23.7% | ||||||
| FTSE 100 securities | 26.1% | 25.7% | ||||||
| FTSE 250 securities | 23.1% | 21.7% | ||||||
| Paris market overall | 27.3% | 22.4% | ||||||
| CAC 40 securities | 28.2% | 23.6% | ||||||
| CAC Next20 securities | 29.7% | 22.0% | ||||||
| Frankfurt market overall | 26.5% | 23.7% | ||||||
| DAX 30 securities | 27.9% | 25.9% | ||||||
| MDAX securities | 29.5% | 20.4% | ||||||
| TecDAX securities | 23.8% | 14.2% | ||||||
| Amsterdam market overall | 26.3% | 21.2% | ||||||
| AEX securities | 27.2% | 22.2% | ||||||
| AMX securities | 22.2% | 15.8% | ||||||
| Brussels market overall | 27.4% | 22.5% | ||||||
| BEL 20 securities | 28.0% | 23.9% | ||||||
| Milan market overall | 14.8% | 13.6% | ||||||
| FTSE MIB securities | 15.6% | 14.9% | ||||||
| Zurich market overall | 19.7% | 21.6% | ||||||
| SMI securities | 21.2% | 23.6% | ||||||
| SMIM securities | 21.1% | 18.4% | ||||||
| Nordic market overall | 24.8% | 23.9% | ||||||
| Helsinki OMXH25 securities | 27.1% | 25.4% | ||||||
| Stockholm OMXS30 securities | 26.7% | 26.4% | ||||||
| Copenhagen OMXC20 securities | 24.5% | 21.4% | ||||||
| Oslo OBX securities | 22.5% | 23.4% | ||||||
| Vienna market overall | 20.3% | 20.2% | ||||||
| ATX securities | 21.2% | 20.8% | ||||||
| Lisbon market overall | 14.5% | 9.6% | ||||||
| PSI-20 securities | 14.7% | 9.9% | ||||||
| Dublin market overall | 12.5% | 8.3% | ||||||
| ISEQ 20 securities | 12.6% | 8.4 | ||||||
| Madrid market overall | 19.1% | 18.3% | ||||||
| IBEX 35 securities | 20.4% | 19.1% | ||||||
| Key Indices | ||||||||
| EUROSTOXX 50 securities | 24.6% | 23.3% | ||||||
| FTSE RIOB | 7.0% | 8.2% | ||||||
3Represent consolidated figures for BXE and CXE lit and dark books, unless otherwise noted.
4BXE and CXE non-displayed order books.
About BATS Global Markets, Inc.
BATS Global Markets, Inc. is a leading global operator of securities markets, committed to Making Markets Better for traders, investors and issuers. In the U.S., BATS operates four stock exchanges – BZX, BYX, EDGX and EDGA – and regularly ranks as the top market for ETF and retail-driven liquidity. The company is an important listing venue for ETFs and other structured products and also operates BATS Options, a U.S. equity options market. In Europe, BATS operates the largest pan-European equities exchange, offering trading and listing services across 15 major European markets, as well as the largest pan-European trading facility, BXTR. With its world-class proprietary technology and relentless customer focus, BATS strives to bring efficiency, transparency and fairness to market participants. The company is headquartered in Kansas City with offices in New York, London and Chicago. Further information on BATS can be found at www.bats.com and by following us on Twitter @BATSGlobal.
