BATS Global Markets (BATS) today reported April volume, market share, and monthly highlights including its best month on record for U.S. Options market share, 9.9%, and second-best month on record for U.S. equities market share, 21.2%.
BATS Options’ April 2015 market share rose from 4.2% one year ago and surpassed the previous monthly market share record of 9.4% set in March 2015. Also in the U.S., BATS remained the #1 U.S. market for ETF trading in executing 26.3% of all ETF trading volume.
In Europe, BATS Chi-X Europe, already the region’s largest stock exchange, had an exceptionally strong month across key European indices, trading 30.2% of both the German DAX and MDAX; 28.6% of the French CAC40; and 27.3% of both the Dutch AEX and Swedish OMXS30. It was also the second-best month for market share in Spain’s IBEX35 stocks, at 21.2%.
Additionally, BXTR, BATS Chi-X Europe’s trade reporting facility, had its most successful month ever with more than €506.9 billion reported in total during April, an average of €25.3 billion each trading day.
Hotspot, BATS’ institutional spot foreign exchange market, posted average daily volume of $28.4 billion in April, up from $25.2 billion one year ago. Beginning this month, Hotspot is offering free trading in spot gold and silver for all customers.
In all, the BATS markets executed $126.1 billion of notional volume per day in April.
| April 2015 Volume and Market Share Overview | ||||
| U.S. Equities (BATS Exchanges – BZX, BYX, EDGA, EDGX) | April 2015 | |||
| Overall Industry – Average Daily Consolidated Volume | 6.4 billion shares | |||
| BATS Exchanges – Matched Market Share | 21.2% | |||
| BATS Exchanges – Average Daily Matched Volume | 1.36 billion shares | |||
| U.S. Equity Options (BATS Options) | ||||
| BATS Options (BZX Options) – Matched Market Share | 9.9% | |||
| BATS Options (BZX Options) – Average Daily Matched Volume | 1,505,178 contracts | |||
| European Equities (BATS Chi-X Europe) | ||||
| Pan-European Consolidated Volume1 – Average Daily Notional Value | €56.3 billion | |||
| BATS Chi-X Europe – Overall European Market Share | 24.1% | |||
| BATS Chi-X Europe – Total Notional Value Traded | €271.5 billion | |||
| BATS Chi-X Europe – Average Daily Notional Value | €13.6 billion | |||
| European Trade Reporting (BXTR) | ||||
| BXTR – Total Notional Value Reported | €506.9 billion | |||
| BXTR – Average Daily Notional Value Reported | €25.3 billion | |||
| Foreign Exchange (Hotspot) | ||||
| Total Volume Traded (U.S. Dollar) | $625.4 billion | |||
| Average Daily Volume (ADV) | $28.4 billion | |||
| 1Based on BATS Chi-X Europe market coverage, available at www.batstrading.co.uk | ||||
Additional monthly highlights are outlined below by business line.
U.S. Equities – Highlights, Volume and Market Share Statistics
- BATS reported U.S. equities market share of 21.2% in March, up from 20.7% one year ago. Average daily matched volume on the BATS Exchanges was 1.36 billion in line with a year ago.
- BATS’ options exchange, BZX Options, was the largest maker-taker options exchange in April. The exchange set a new one-day market share record on April 29, reporting 11.4% market share.
- On April 16, BATS announced it filed rules to launch a second options exchange – EDGX Options – with the Securities and Exchange Commission. The new exchange will be based on a customer priority/pro rata allocation model.
- The company successfully migrated its U.S. markets from the NJ2 data center in Weehawken, NJ to the Equinix NY5 data center in Secaucus, NJ. BATS Options migrated on Monday, April 13, 2015 and the BZX and BYX Exchanges migrated yesterday.
- On April 17, BATS announced the appointment of industry veteran Laura Morrison as Senior Vice President, Global Head of Exchange-Traded Products. Ms. Morrison joins from NYSE where she spent 20 years and was most recently Senior Vice President, Global Index and Exchange-Traded Products.
- On April 10, BATS successfully operated its U.S. business from its disaster recovery site as part of the company’s business continuity planning process.
- During April, the BZX Exchange ranked 1st or 2nd in quality of trading in 80% of the stocks in the S&P 500® Index, up from 79% in March, as measured by effective spread, according to the BATS market quality statistics.
- Combined, the BATS Exchanges had the lowest effective spread in 24 of the top 50 exchange-traded products in April.
- The five most actively-traded options classes on BATS Options during April were the Standard & Poor’s Depositary Receipt ETF Trust (SPY), Apple Inc. (AAPL), Facebook Inc. (FB), iShares Russell 2000 Index ETF (IWM), and Twitter Inc. (TWTR).
| U.S. EQUITIES: BATS Exchanges (BYX, BZX, EDGA, EDGX) Volume and Market Share | ||||||||
| April 2015 | April 2014 | |||||||
| BATS Exchanges percentage of overall U.S. equities market share | 21.2% | 20.7% | ||||||
| Average daily volume (ADV) traded on BATS Exchanges | 1.36 billion shares | 1.36 billion shares | ||||||
| Total industry volume | 6.4 billion shares | 6.61 billion shares | ||||||
| Total notional value traded on BATS Exchanges | $1.13 trillion | $1.1 trillion | ||||||
| Average daily notional value traded on BATS Exchanges | $53.9 billion | $56.0 billion | ||||||
| BATS overall market share – Tape A securities | 18.8% | 18.4% | ||||||
| BATS overall market share – Tape B securities | 26.1% | 26.2% | ||||||
| BATS overall market share – Tape C securities | 22.5% | 21.5% | ||||||
| BATS overall market share in ETF trading2 | 26.3% | 26.9% | ||||||
| BATS 1000 Index monthly performance and close | +0.6% | +0.7% | ||||||
| 23,099.14 | 21,267.00 | |||||||
| For additional U.S. equities market volume information: BATS U.S. Equities Market Volume Summary | ||||||||
| U.S. OPTIONS: BATS Options Volume and Market Share | ||||||||
| April 2015 | April 2014 | |||||||
| Average daily matched volume (contracts) | 1,505,178 | 703,313 | ||||||
| Average daily matched volume (market share) | 9.9% | 4.2% | ||||||
| For additional U.S. Options market volume information: BATS U.S. Options Market Volume Summary | ||||||||
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European Equities – BATS Chi-X Europe Highlights, Volume and Market Share Statistics
- Monthly market share was 24.1% with average daily notional value traded during April at €13.6 billion, up 38.0% year-on-year. Year-on-year, market share rose substantially in 11 of the 15 markets BATS Chi-X Europe covers.
- On April 13, BATS Chi-X Europe and ICAP announced new services, when combined, enable market participants to trade fully cleared equity index Exchange for Physical (EFP) transactions anonymously.
| BATS Chi-X Europe Market Share by Market2 | ||||||||
| (In millions, except percentages) | ||||||||
| April 2015 | April 2014 | |||||||
| BATS Chi-X Europe overall market share | 24.1% | 21.4% | ||||||
| BATS Chi-X Europe Average daily notional value | € 13,573.9 | €8,719.6 | ||||||
| Displayed average daily notional value | € 12,117.8 | €7,845.4 | ||||||
| Non-displayed3 average daily notional value | € 1,456.1 | €874.2 | ||||||
| London market overall | 23.2% | 24.2% | ||||||
| FTSE 100 securities | 24.7% | 26.6% | ||||||
| FTSE 250 securities | 23.1% | 21.0% | ||||||
| Paris market overall | 27.5% | 22.2% | ||||||
| CAC 40 securities | 28.6% | 22.7% | ||||||
| CAC Next20 securities | 27.9% | 22.9% | ||||||
| Frankfurt market overall | 28.6% | 24.0% | ||||||
| DAX 30 securities | 30.2% | 26.1% | ||||||
| MDAX securities | 30.2% | 20.9% | ||||||
| TecDAX securities | 25.8% | 9.4% | ||||||
| Amsterdam market overall | 26.3% | 21.3% | ||||||
| AEX securities | 27.3% | 21.9% | ||||||
| AMX securities | 20.2% | 19.3% | ||||||
| Brussels market overall | 25.8% | 22.2% | ||||||
| BEL 20 securities | 26.7% | 23.3% | ||||||
| Milan market overall | 14.8% | 12.5% | ||||||
| FTSE MIB securities | 16.0% | 13.5% | ||||||
| Zurich market overall | 21.0% | 22.2% | ||||||
| SMI securities | 22.7% | 24.2% | ||||||
| SMIM securities | 22.2% | 20.3% | ||||||
| Nordic market overall | 25.6% | 23.1% | ||||||
| Helsinki OMXH25 securities | 29.0% | 25.7% | ||||||
| Stockholm OMXS30 securities | 27.3% | 24.1% | ||||||
| Copenhagen OMXC20 securities | 23.9% | 20.8% | ||||||
| Oslo OBX securities | 23.4% | 23.7% | ||||||
| Vienna market overall | 21.1% | 18.9% | ||||||
| ATX securities | 22.1% | 19.6% | ||||||
| Lisbon market overall | 15.9% | 8.9% | ||||||
| PSI-20 securities | 16.0% | 9.1% | ||||||
| Dublin market overall | 17.0% | 8.7% | ||||||
| ISEQ 20 securities | 17.0% | 8.8% | ||||||
| Madrid market overall | 20.0% | 14.9% | ||||||
| IBEX 35 securities | 21.2% | 15.7% | ||||||
| Key Indices | ||||||||
| EUROSTOXX 50 securities | 25.6% | 21.6% | ||||||
| FTSE RIOB | 6.8% | 6.8% | ||||||
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| 2Represent consolidated figures for BXE and CXE lit and dark books, unless otherwise noted. | ||||||||
| 3BXE and CXE non-displayed order books. | ||||||||
To track European market share for all major exchanges and other venues, please view the BATS Pan-European Market Volume Summary.
Foreign Exchange – Hotspot Highlights, Volume and Market Share Statistics5
Hotspot daily, monthly, and quarterly volumes are posted on the Hotspot website.
- Hotspot posted average daily volume of $28.4 billion in April, up from $25.2 billion one year ago. Total volume traded on Hotspot in April was $625.4 billion, up from $555.3 billion one year ago.
- On April 21, Hotspot announced plans to offer free gold trading for all customers beginning May 1, 2015. The “Free Gold” promotion, which applies to trading of spot gold and spot silver pairs, will continue through at least year-end 2015, and may be extended into 2016.
| Hotspot Market Statistics | ||||||||
| April 2015 | April 2014 | |||||||
| Total Volume Traded (U.S. Dollar) | $625.4 billion | $555.3 billion | ||||||
| Average Daily Volume (ADV) | $28.4 billion | $25.2 billion | ||||||
| Number of Trading Days | 22 | 22 | ||||||
| Hotspot Volume Percentage Breakdown | ||||||||
| April 2015 | April 2014 | |||||||
| Europe | 43.8% | 44.3% | ||||||
| Americas | 42.1% | 40.8% | ||||||
| Asia | 14.1% | 14.9% | ||||||
| Top Five currency pairs in March by volume percentage | ||||||||
| Currency Pair |
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