BATS Global Markets Posts U.S. Equities Market Share Of 12.4%; CXE Dark Book Is Largest MTF Dark Book In Europe

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BATS Global Markets

01 Oct, 2012, 21:44 GMT

-- U.S. Options Market Share at 3.5%

KANSAS CITY, Missouri and LONDON, Oct. 1, 2012 /PRNewswire/ -- BATS Global Markets (BATS), a leading operator of securities markets in the U.S. and Europe, today reported September U.S. equities market share of 12.4%, the second-best monthly market share performance in the company's seven-year history.

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"September's U.S. equities market share was our third straight month exceeding 12% as we continue to show exceptional strength at our flagship business despite lower market volumes overall," said President and Chief Executive Joe Ratterman. "In Europe, we set another monthly record in Copenhagen's OMXC20 Index and our CXE dark order book was the largest MTF dark book in Europe for the first time since the creation of BATS Chi-X Europe."

The CXE dark order book recorded €292.8 million average daily notional value traded, while the BXE dark order book ranked third with €169.2 million. BATS Chi-X Europe reported 22.8% monthly market share overall and set a monthly record in Copenhagen's OMXC20 (22.4%). Monthly market share exceeded 25% in the UK, German, Dutch and Swedish markets, among others.

In the U.S., BATS Options recorded matched market share of 3.5%, compared with 3.7% in August.

BATS Global Markets operates two stock exchanges in the U.S. -- the BATS BZX Exchange and BATS BYX Exchange (the BATS Exchanges); BATS Options, a U.S. equity options market; and BATS Chi-X Europe, which runs an FSA-authorized multilateral trading facility.

September 2012 Highlights

U.S. Equities and Options:

BATS Exchanges

 (BZX Exchange and BYX Exchange)

Matched Market Share

12.4% (vs. 12.8% in August; 12.0% one year ago)

Average Daily Matched Volume

806.5 million shares

BATS Options

Matched Market Share

3.5% (vs. 3.7% in August; 3.8% one year ago)

Average Daily Matched Volume

594,069 contracts

  • BATS U.S. cash equities market share of 12.4%, the 3rd consecutive month of market share above 12%.
  • The BATS Exchanges posted the second best month on record for Tape A (NYSE-listed) securities, capturing 11.7% market share.
  • BATS Options reported its highest average daily matched volume of 2012. 
  • The BATS 1000® Index, a broad based U.S. equities market benchmark, ended the month up 345.73 points, or 2.2%, to close at 16,086.42

European Equities:

BATS Chi-X Europe

Overall European Market Share

22.8% (vs. 23.8% in August; vs. 25.3% one year ago(1))

Combined Total Notional Value Traded

€148.0 billion

Combined Average Daily Notional Value

€7.4 billion

New Individual Market Records

OMXC = 22.4% (vs. 22.3% in August; 16.6% one year ago(1))

(1) All 2011 figures are on a pro forma basis.

  • BATS Chi-X Europe's CXE dark order book was Europe's largest MTF dark book in September, while the BXE dark order book was the third largest in the region.
  • Monthly market share exceeded 25% in the UK, German, Dutch and Swedish markets, among others.

September 2012 Volume and Market Share Summary

A complete breakdown of September volume and market share for each market center is outlined below. To track U.S. and Europe market share for all major trading exchanges and other venues, please visit: http://www.batsglobalmarkets.com/markets/

U.S. Equities:

September 2012

September 2011

The BATS Exchanges (BZX & BYX combined)

(In millions, except percentages;

volume and notional figures exclude odd-lots)

      Average daily matched volume

806.5

1,021.1

      Total notional value traded for the month

$505,628.5

$738,698.3

   Market share percentage (for the period):

Tape A

11.7%

9.9%

    Tape B

13.9%

16.1%

    Tape C

12.9%

13.1%

Overall matched market share

12.4%

12.0%


Volume By Exchange:

BZX Exchange:

     Average daily matched volume

585.2

823.0

     Total notional value traded for the month

$383,698.7

$618,336.1

  Market share percentage (for the period):

Tape A

8.1%

7.6%

    Tape B

11.0%

13.9%

    Tape C

9.7%

10.8%

Overall matched market share

9.0%

9.7%



BYX Exchange:

     Average daily matched volume

221.3

198.1

     Total notional value traded for the month

$121,929.8

$120,362.2

  Market share percentage (for the period):

Tape A

3.6%

2.4%

    Tape B

2.9%

2.3%

                    Tape C

3.2%

2.3%

Overall matched market share

3.4%

2.3%





BATS Options:

September 2012

September 2011

Contracts

Market share

Contracts

Market share

Average daily matched volume

594,069

3.5%

697,714

3.8%





European Equities(2):

September 2012

September 2011

(In millions, except percentage)

Total notional value

€147,972.2

€223,221.3

Average daily notional value

€7,398.7

€10,064.3

Displayed average daily notional value

€6,936.7

€9,677.4

    Non-displayed(3) average daily notional value

€462.0

€386.9


Market share by platform (for the period):

    Overall European market share

22.8%

25.3%

    STOXX Europe 50 securities

24.3%

27.7%



    London market overall

26.6%

34.0%

FTSE 100 securities

30.3%

39.3%

FTSE 250 securities

24.9%

29.1%



   Paris market overall

23.2%

25.5%

CAC 40 securities

24.4%

27.6%

CAC Next20 securities

23.2%

25.6%



   Frankfurt market overall

25.2%

25.8%

DAX 30 securities

26.0%

27.8%

MDAX securities

27.6%

25.4%



    Amsterdam market overall

25.5%

32.0%

AEX securities

25.9%

32.9%

AMX securities

20.1%

18.3%



    Brussels market overall

21.8%

25.8%

BEL 20 securities

22.0%

27.7%



    Milan market overall

11.3%

14.3%

FTSE MIB securities

12.0%

14.7%



    Zurich market overall

23.9%

24.4%

SMI securities

25.6%

25.9%

SMIM securities

16.2%

14.6%



    Nordic market overall

24.1%

20.7%

Helsinki OMXH25 securities

23.8%

25.0%

Stockholm OMXS30 securities

27.6%

24.7%

Copenhagen OMXC20 securities

22.4%

16.6%

Oslo OBX securities

19.4%

15.7%



    Vienna market overall

16.3%

10.9%

             ATX securities

16.6%

11.0%



    Lisbon market overall

13.7%

17.6%

             PSI-20 securities

13.9%

17.7%



    Dublin market overall

5.8%

2.4%

             ISEQ 20 securities

5.8%

2.4%



    Madrid market overall

3.1%

1.8%

             IBEX 35 securities

3.2%

1.9%

(2) Figures represent consolidated figures for BATS Europe (BXE) and Chi-X Europe (CXE) lit and dark books, unless otherwise noted. All 2011 figures are on a pro forma basis.

(3) BXE and CXE non-displayed order books.

About BATS Global Markets, Inc.

BATS Global Markets, Inc. (BATS) is a leading operator of securities markets in the U.S. and Europe. BATS develops and operates electronic markets for the trading of listed cash equity securities in the U.S. and Europe and listed equity options in the U.S. BATS operates two stock exchanges in the U.S., the BATS BZX Exchange and BYX Exchange; BATS Options, a U.S. equity options market; and BATS Chi-X Europe, which operates a FSA-authorized multilateral trading facility. BATS' innovative and proprietary technology was developed by a dedicated core team of market and technology professionals, catering to the needs of the broker-dealer and trading community. The company is headquartered in the Kansas City, Mo. area, with additional offices in New York and London. For more information, visit www.bats.com.