03.05.2014
By Terry Flanagan

BATS Global Markets February Highlights: New Market Share Records For U.S., Spanish Equities; Merger Integration Process Moving Forward

U.S. Equities Market Share Totals 20.4%, BATS Chi-X Europe Posts Another New Record in Spain


KANSAS CITY, Mo., and LONDON – March 4, 2014 – BATS Global Markets (BATS) today reported February volume, market share, and monthly highlights:

  • BATS reported 20.4% U.S. equities market share in February, a new company record in the first month with BATS and Direct Edge combined under the BATS Global Markets brand.
  • Following the close of its merger with Direct Edge on January 31, BATS announced the combined executive team including CEO Joe Ratterman and President William O’Brien.
  • BATS also announced its data center strategy and integration timeline for the new combined organization. BATS selected Equinix’s NY5 data center in Secaucus, N.J., as its primary data center and future home to all of the BATS U.S. Exchanges. The migration of the Direct Edge Exchanges – EDGA and EDGX – will take place in January 2015, and the BATS Exchanges – BZX and BYX – will move in the second quarter of 2015.
    • Information on the integration process, including a recording of the customer integration call and presentation slides, are available at bats.com/edgeintegration and BATS will also share updates via its Twitter feed @BATSGlobal.
  • In Europe, BATS Chi-X Europe set new monthly market share records in Spain’s IBEX 35 with 19.1% market share, up 8.9% year-on-year. BATS Chi-X Europe also set new market share records in Dublin’s ISEQ 20 (at 8.4%) and Vienna’s ATX (at 20.8%). BATS Chi-X Europe remains the largest equities exchange in Europe, reporting consolidated market share of 21.9%.
  • BXTR, BATS Chi-X Europe’s pan-European trade reporting facility, reported 48.6% market share in February, according to BATS and Thomson Reuters.

“As the first month as a combined organization, February marked the beginning of a new chapter in the story of BATS Global Markets and we couldn’t be more excited about the opportunities ahead,” said BATS CEO Joe Ratterman. “We’ve listened closely to our customers and I am pleased to report that we’ve made significant progress on the integration this month with the announcement of our data center strategy and integration timeline, and we will remain laser-focused on achieving a seamless integration process for our customers in the months ahead.”

February 2014 Volume and Market Share Summary

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 BATS BZX Exchange ranked 1st or 2nd in quality of trading in 69% of the stocks in the S&P 500® Index, as measured by effective spread, according to the BATS market quality statistics.
  • Together the BZX Exchange and EDGX Exchange had the lowest effective spread in 19 of the top 25 exchange-traded products.


2Based on a pro forma basis

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.


2Based on a pro forma basis
3Based on ArcaVision.com data

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), Facebook (FB), iShares Russell 2000 ETF (IWM), PowerShares QQQ Trust Series (QQQ), and iPath S&P 500 VIX Short-Term Futures ETN (VXX).
  • Beginning March 6, 2014, BATS Options will begin accepting orders for queuing at 8:00 am ET. Regular trading will begin after the Opening Process is complete.

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.


2Represent consolidated figures for BXE and CXE lit and dark books, unless otherwise noted.
3BXE and CXE non-displayed order books.

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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. 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 the New York area and London. Further information on BATS can be found at www.bats.com and by following us on Twitter @BATSGlobal.

Contacts:

MEDIA:     
Jim Gorman (NYC) +202.942.8234
Kelly Bailey (KC) +1.913.815.7160
Hannah Randall (London) +44.207.012.8950
comms@bats.com

ANALYSTS:  
Randy Williams (NYC) +1.212.378.8522
comms@bats.com

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