BATS Global Markets Sets U.S. Equities, Options October Market Share Records; Europe Has Best Month of 2014
KANSAS CITY, Mo. & LONDON–(BUSINESS WIRE)–BATS Global Markets (BATS) today reported October highlights including new monthly market share records of 21.4% in U.S. equities and 6.5% in U.S. options.
The previous record for U.S. equities was 20.7% in April 2014 and the previous options record was 5.8% in September 2014. October marked the third consecutive month of record market share for BATS Options.
In Europe, BATS reported 22.3% market share, its strongest month in 2014. Notably, total average daily notional value traded was 45.4% higher than in October 2013. Separately, more than €368.0bn was reported to BXTR, the exchange’s trade reporting facility.
Other October highlights include:
- BATS Options also set a one-day market share record of 7.8% on October 27th. In October, BATS Options reported five days where market share topped 7.0%, a new record for the growing business.
- In October, BATS Chi-X Europe average daily notional value traded totaled €11.0 billion. In the U.S., the BATS Exchanges reported average daily matched volume of 1.67 billion shares, a new record for the company.
- Continental European market share grew in key markets: share of the Frankfurt market increased 2.2 percentage points on October 2013; share of the Milan market was up 1.7 percentage points, and share of the Madrid market was up 3.1 percentage points.
- BATS Chi-X Europe announced the planned launch of trading in Turkish stocks. With the addition of Turkey, BATS will offer trading across 16 markets in Europe.
- BATS Chi-X Europe was recognized at Financial News’ 2014 Awards for Excellence in Trading and Technology, winning four awards. These included Best Equities Trading Platform, Most Innovative Data Product (for BXTR), Post-Trade Initiative of the Year (for ETF interoperability) and CTO of the Year (for Dave Howson).
- BATS welcomed two new U.S. listings to the BZX Exchange in October. The iShares MSCI Emerging Markets Horizon ETF (BATS: EMHZ) commenced trading on October 16th and the ValueShares U.S. Quantitative Value ETF (BATS: QVAL) began trading on October 22nd.
- In the U.S., BATS remains on schedule for the substantive completion of the Direct Edge integration in January 2015. BATS conducted its first weekend test opportunity for members to test the new EDGA and EDGX trading platforms in the Equinix NY5 data center on Saturday, October 11th. Information on the integration process, including a schedule of upcoming test dates, is available at bats.com/edgeintegration.
- BATS Chi-X Europe successfully completed a disaster recovery test on Saturday, October 11th, which simulated various disaster recovery failover scenarios for the Exchange.
October 2014 Volume and Market Share Summary
|U.S. Equities (BATS Exchanges – BZX, BYX, EDGA, EDGX)||October 2014|
|Overall Industry – Average Daily Consolidated Volume||7.82 billion shares|
|BATS Exchanges – Matched Market Share||21.4%|
|BATS Exchanges – Average Daily Matched Volume||1.67 billion shares|
|U.S. Equity Options (BATS Options)|
|BATS Options – Matched Market Share||6.5%|
|BATS Options – Average Daily Matched Volume||1,364,829 contracts|
|European Equities (BATS Chi-X Europe)|
|Pan-European Consolidated Volume1 – Average Daily Notional Value||€49.4 billion|
|BATS Chi-X Europe – Overall European Market Share||22.3%|
|BATS Chi-X Europe – Total Notional Value Traded||€252.7 billion|
|BATS Chi-X Europe – Average Daily Notional Value||€11.0 billion|
|European Trade Reporting (BXTR)|
|BXTR – Total Notional Value Reported||€368.0 billion|
|BXTR – Average Daily Notional Value Reported||€16.0 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 October, the BZX Exchange ranked 1st or 2nd in quality of trading in 311 of the stocks in the S&P 500® Index, as measured by effective spread, according to the BATS market quality statistics.
- Combined, the BZX Exchange and EDGX Exchange had the lowest effective spread in 12 of the top 25 exchange-traded products.
|BATS Exchanges (BZX, BYX, EDGA, EDGX) – Market Volume Summary, Volume, and Statistics|
|October 2014||October 20132|
|BATS Exchanges percentage of overall U.S. equities market share||21.4%||10.2%|
|Average daily volume (ADV) traded on BATS Exchanges||1.67 billion shares||638.8 million shares|
|Total industry volume||7.82 billion shares||6.29 million shares|
|Total notional value traded on BATS Exchanges||$1.58 trillion||$570.0 billion|
|Average daily notional value traded on BATS Exchanges||$68.9 billion||$24.8 billion|
|BATS overall market share – Tape A securities||19.2%||9.0%|
|BATS overall market share – Tape B securities||25.9%||14.5%|
|BATS overall market share – Tape C securities||22.2%||9.8%|
|BATS overall market share in ETF trading3||26.1%||15.1%|
|BATS 1000 Index monthly performance and close||+2.7%
2BATS BZX and BYX Exchange data only
3Based 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 October were the Standard & Poor’s Depositary Receipt ETF Trust (SPY), Apple Inc. (APPL), iShares Russell 2000 Index ETF (IWM), PowerShares QQQ Trust, Series 1 ETF (QQQ), and iPath S&P 500 VIX Short-Term Futures ETN(VXX).
|BATS Options Market Share and Volume|
|October 2014||October 2013|
|Contracts||Market share||Contracts||Market Share|
|Average daily matched volume||1,364,829||6.5%||620,750||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 Market 2|
|October 2014||October 2013|
|(In millions, except percentages)|
|BATS Chi-X Europe overall market share||22.3%||22.9%|
|BATS Chi-X Europe Average daily notional value||€10,988.9||€7,781.0|
|Displayed average daily notional value||€9,921.8||€7,049.9|
|Non-displayed3 average daily notional value||€1,067.1||€731.1|
|London market overall||23.5%||27.3%|
|FTSE 100 securities||25.0%||30.6%|
|FTSE 250 securities||22.3%||21.7%|
|Nordic market overall||23.7%||27.2%|
|Helsinki OMXH25 securities||23.9%||29.6%|
|Stockholm OMXS30 securities||26.5%||30.1%|
|Copenhagen OMXC20 securities||22.1%||24.0 %|
|Oslo OBX securities||21.3%||23.0%|
|Frankfurt market overall||27.1%||24.9%|
|DAX 30 securities||28.9%||26.6%|
|Zurich market overall||20.0%||24.1%|
|Paris market overall||23.8%||23.3%|
|CAC 40 securities||24.0%||24.3%|
|CAC Next20 securities||26.8%||23.5%|
|Brussels market overall||24.2%||22.7%|
|BEL 20 securities||23.6%||24.3%|
|Amsterdam market overall||21.7%||22.2%|
|Vienna market overall||20.5%||15.8%|
|Milan market overall||13.6%||11.8%|
|FTSE MIB securities||14.1%||12.7%|
|Madrid market overall||16.1%||13.0%|
|IBEX 35 securities||16.6%||13.9%|
|Lisbon market overall||12.1%||10.5%|
|Dublin market overall||10.9%||6.7%|
|ISEQ 20 securities||10.9%||6.7%|
|EUROSTOXX 50 securities||22.5%||22.1%|
2Represent consolidated figures for BXE and CXE lit and dark books, unless otherwise noted.
3BXE 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. 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 Chicago, the New York area and London. Further information on BATS can be found at www.bats.com and by following us on Twitter @BATSGlobal.