BATS Global Markets Reports Strong Market Share in U.S. and European Equities, U.S. Options; Welcomes Eight New ETFs in November
BATS Global Markets (BATS) today reported November data and highlights including one of its best months on record for its European Equities business, with 25.3% market share.
In all, the BATS markets executed $106.4 billion of notional value per day in November. For the fourth month in a row, BATS was the largest equities market operator globally handling more than $1.31 trillion notionally.
For the month, BATS Chi-X Europe reported average daily notional traded was €11.7 billion. BXTR, the company’s trade reporting facility, remained #1 in Europe, with €367.6 billion reported, an average of €17.5 billion per trading day.
In U.S. Equities, BATS reported another strong month with market share of 20.9% in November, up from 20.3% reported one year ago. Average daily matched volume on the BATS Exchanges was 1.43 billion shares, up from 1.25 billion shares one year ago.
In U.S. Options, BATS successfully launched its second options market, EDGX Options, on Monday, November 2nd. BATS reported 8.7% market share for U.S. Options in November, up from 7.9% in October and 5.8% one year ago.
BATS welcomed eight new ETFs to its U.S. market in November and remained the #1 U.S. market operator for ETF trading in November, executing 26.5% of all ETF volume. BATS also announced that ProShares will become the first issuer to transfer products to BATS from another exchange with four ProShares ETFs scheduled to be transferred on or about December 15, 2015.
Hotspot, BATS’ institutional spot foreign exchange market, posted average daily volume of $22.4 billion in November vs. $23.9 billion in October. Total volume traded on Hotspot in November was $470.2 billion (21 trading days) vs. $526.9 billion in October (22 trading days).
November 2015 Volume and Market Share Overview
U.S. Equities (BATS Exchanges – BZX, BYX, EDGA, EDGX)
|Overall Industry – Average Daily Consolidated Volume||6.83 billion shares|
|BATS Exchanges – Matched Market Share||20.9%|
|BATS Exchanges – Average Daily Matched Volume||1.43 billion shares|
U.S. Equity Options (BATS Options – BZX Options + EDGX Options)
|BATS Options – Matched Market Share||8.7%|
|BATS Options – Average Daily Matched Volume||1,355,855 contracts|
European Equities (BATS Chi-X Europe)
|Pan-European Consolidated Volume1 – Average Daily Notional Value||€46.4 billion|
|BATS Chi-X Europe – Overall European Market Share||25.3%|
|BATS Chi-X Europe – Total Notional Value Traded||€246.6 billion|
|BATS Chi-X Europe – Average Daily Notional Value||€11.7 billion|
European Trade Reporting (BXTR)
|BXTR – Total Notional Value Reported||€367.6 billion|
|BXTR – Average Daily Notional Value Reported||€17.5 billion|
Foreign Exchange (Hotspot)
|Total Volume Traded (U.S. Dollar)||$470.2 billion|
|Average Daily Volume (ADV)||$22.4 billion|
1 Based 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 and Options – Highlights, Volume and Market Share Statistics
- BATS successfully launched its second options exchange – EDGX Options – on Monday, November 2nd and completed the phased symbol rollout on November 17th. EDGX Options offers trading in all multiply-listed equity options available for trading in the U.S.
- BATS announced on November 30th that ProShares will become the first issuer to transfer products to The BATS ETF Marketplace from another exchange. ProShares will transfer four ETFs to BATS on or about December 15, 2015.
- During November, BATS welcomed six new ETFs from iShares to its U.S. market and two new ETFs from WisdomTree. Additional information on all products listed on BATS is available on The BATS ETF Marketplace website.
- During November, the BZX Exchange ranked 1st or 2nd in quality of trading in 59.6% 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 had the lowest effective spread in 64% of the top 50 exchange-traded products in November.
U.S. EQUITIES: BATS Exchanges (BYX, BZX, EDGA, EDGX) Volume and Market Share
|November 2015||November 2014|
|BATS Exchanges percentage of overall U.S. equities market share||20.9%||20.3%|
|Average daily volume (ADV) traded on BATS Exchanges||1.43 billion shares||1.25 billion shares|
|Total industry volume||6.83 billion shares||6.17 billion shares|
|Total notional value traded on BATS Exchanges||$1.06 trillion||$937 billion|
|Average daily notional value traded on BATS Exchanges||$52.8 billion||$49.3 billion|
|BATS overall market share – Tape A securities||18.3%||18.4%|
|BATS overall market share – Tape B securities||26.2%||23.7%|
|BATS overall market share – Tape C securities||23.0%||21.7%|
|BATS overall market share in ETF trading||26.5%||23.7%|
For additional U.S. equities market volume information: BATS U.S. Equities Market Volume Summary
|U.S. OPTIONS: BATS Options (BZX Options + EDGX Options) Volume and Market Share|
|November 2015||November 2014|
|Total average daily matched volume (market share) for BATS Options||8.7%||5.8%|
|BZX Options: Average daily matched volume (market share)||8.6%||5.8%|
|EDGX Options: Average daily matched volume (market share)||0.1%||N/A|
|Total average daily matched volume (contracts) for BATS Options||1,355,855||884,941|
|BZX Options: Average daily matched volume (contracts)||1,340,966||884,941|
|EDGX Options: Average daily matched volume (contracts)||14,889||N/A|
For additional U.S. Options market volume information:
U.S. Options Market Volume Summary
European Equities – BATS Chi-X Europe Highlights, Volume and Market Share Statistics
|BATS Chi-X Europe Market Share by Market 2 (In millions, except percentages)|
|November 2015||November 2014|
|BATS Chi-X Europe overall market share||25.3%||22.9%|
|BATS Chi-X Europe Average daily notional value||€ 11,741.9||€9,538.8|
|Displayed average daily notional value||€ 10,513.6||€8,527.1|
|Non-displayed3 average daily notional value||€ 1,228.3||€1,011.7|
|London market overall||27.6%||24.0%|
|FTSE 100 securities||29.3%||25.9%|
|FTSE 250 securities||26.7%||21.7%|
|Paris market overall||24.9%||25.6%|
|CAC 40 securities||25.0%||25.9%|
|CAC Next20 securities||28.1%||28.2%|
|Frankfurt market overall||28.4%||27.2%|
|DAX 30 securities||30.4%||28.3%|
|Amsterdam market overall||24.4%||22.9%|
|Brussels market overall||26.1%||26.9%|
|BEL 20 securities||25.3%||26.1%|
|Milan market overall||17.1%||14.3%|
|FTSE MIB securities||18.3%||14.8%|
|Zurich market overall||25.8%||18.7%|
|Nordic market overall||24.4%||24.8%|
|Helsinki OMXH25 securities||30.8%||27.0%|
|Stockholm OMXS30 securities||26.2%||27.5%|
|Copenhagen OMXC20 securities||25.4%||24.1%|
|Oslo OBX securities||24.8%||21.2%|
|Vienna market overall||14.7%||19.5%|
|Lisbon market overall||18.2%||14.0%|
|Dublin market overall||12.3%||12.6%|
|ISEQ 20 securities||12.5%||13.4%|
|Madrid market overall||22.9%||17.7%|
|IBEX 35 securities||23.8%||18.0%|
|EUROSTOXX 50 securities||25.3%||22.9%|
Represent consolidated figures for BXE and CXE
lit and dark books, unless otherwise noted.
3 BXE and CXE non-displayed order books.
For additional European equities market volume information: BATS Pan-European Market Volume Summary
Foreign Exchange – Hotspot Highlights, Volume and Market Share Statistics 4
Hotspot daily, monthly, and quarterly volumes are posted on the Hotspot website.
- Hotspot successfully migrated its U.S. matching engine to the Equinix NY5 data center on Monday, November 9, 2015.
|Hotspot Market Statistics|
|November 2015||November 2014|
|Total Volume Traded (U.S. Dollar)||$470.2 billion||$655.7 billion|
|Average Daily Volume (ADV)||$22.4 billion||$32.8 billion|
|Number of Trading Days||21||20|
|Hotspot Volume Percentage Breakdown|
|November 2015||November 2014|
|Top Five currency pairs in November by volume percentage|
4 Market share figures are for full month. BATS closed its acquisition of Hotspot on March 13, 2015. Hotspot volumes represent the notional value in U.S. dollars of all trades executed on the platform, counting one side of the transaction. Hotspot Volume Percentage Breakdown is based on the times at which the trades were executed, based on EST (i.e. EST: Asia: 5pm-2am, Europe: 2am-9am, US: 9am-5pm).
About BATS Global Markets, Inc.
BATS Global Markets, Inc., a leading global operator of exchanges and services for financial markets, is committed to Making Markets Better for traders, investors and issuers. In Europe, BATS operates the largest pan-European equities exchange, offering trading and listing services across 15 major European markets, as well as BXTR, the continent’s largest trade reporting facility. 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 a listing venue for ETFs and other structured products, also operates two U.S. equity options markets – BATS BZX Options and BATS EDGX Options. Globally, BATS serves the foreign exchange (FX) market, the world’s largest asset class, with Hotspot, a leading institutional spot foreign exchange market. With its world-class 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, Chicago and Singapore. Further information on BATS can be found at www.bats.com and by following us on Twitter @BATSGlobal.
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