- U.S. Equities Market Share 11.7%, Up From 11.1% One Year Ago
KANSAS CITY, Missouri and LONDON, Feb. 4, 2013 /PRNewswire/ -- BATS Global Markets (BATS), a leading operator of securities markets in the U.S. and Europe, today reported the second-best month for its U.S. equity options business with 3.9% market share in January vs. 3.0% one year ago and 3.5% in December 2012.
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BATS' U.S. equities market share came in at 11.7% in January vs. 11.1% one year ago and 11.9% in December 2012.
BATS Chi-X Europe, the largest pan-European equities exchange by notional value traded and market share in January, recorded overall market share of 24.1% in January compared to 23.7% in December 2012 and 25.9% a year ago. Average daily notional value was €7.5 billion in January vs. €5.9 billion in December 2012 and the strongest monthly turnover for BATS Chi-X Europe since September 2012. BATS Chi-X Europe's CXE dark order book was the largest dark order book in Europe with an average of €312.7 million traded per day in January.
"We are pleased with another strong month of market share at BATS and, like others in the industry, we are watching closely to see where global equity volumes go in 2013," said Joe Ratterman, chief executive officer and president of BATS Global Markets. "We are also encouraged by the many different industry initiatives currently underway, including Limit-Up/Limit-Down as well as the Consolidated Audit Trail, which will continue to enhance the integrity and resilience of the U.S. market structure."
Overall equities industry volumes in the U.S. and Europe were up in January 2013 from December 2012, but down year-over-year. In the U.S., overall equities volume averaged 6.4 billion shares a day in January, up from a daily average of 6.0 billion shares in December, and down from an average 6.9 billion shares a day one year ago. In the European securities markets covered by BATS Chi-X Europe, the overall average daily notional value traded was €31.3 billion in January, up from a daily average of €24.9 billion in December down from €32.5 billion one year ago.
BATS 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, the largest pan-European equity market.
January 2013 Review
- BATS Chief Operating Officer Chris Isaacson was recognized by Institutional Investor as one of the "Trading Technology 40" for the second time in the list's two-year history. Mr. Isaacson ranked #17 on the list.
- BATS launched its Retail Price Improvement (RPI) program on the BATS BYX Exchange. The program is designed to provide price improvement for retail investors.
- In coordination with the other exchanges and market participants, the BATS Exchanges and BATS Options began industry-wide testing on Jan. 26 for Limit Up/Limit Down (LULD) and Market-Wide Circuit Breaker (MWCB) functionality.
- BATS Chi-X Europe monthly market share highlights include 34.1% in London's FTSE 100, the highest since June 2012, and 4.4% in Madrid's IBEX 35, the highest since July 2012.
- BATS Chi-X Europe's two dark order books, CXE and BXE, both grew in January to combined average daily notional value of €552.6 million compared to €391.2 million in December 2012 and €460.5 million one year ago.
- CXE dark order book averaged €312.7 million traded per day in January compared to €218.1 million in December 2012, while BXE dark order book averaged €239.9 million traded per day in January compared to €173.0 million the previous month.
January 2013 Volume and Market Share Summary
U.S. Equities |
January 2013 |
|
Overall Industry – Average Daily Consolidated Volume |
6.4 billion shares |
|
BATS Exchanges (BZX and BYX Exchange) – Matched Market Share |
11.7% |
|
BATS Exchanges (BZX and BYX Exchange) – Average Daily Matched Volume |
754.3 million shares |
|
U.S. Equity Options |
||
Overall Industry – Average Daily Consolidated Volume |
16.8 million contracts |
|
BATS Options – Matched Market Share |
3.9% |
|
BATS Options – Average Daily Matched Volume |
647,602 contracts |
|
European Equities |
||
Pan-European Total Consolidated Volume(1) – Average Daily Notional Value |
€31.3 billion |
|
BATS Chi-X Europe – Overall European Market Share |
24.1% |
|
BATS Chi-X Europe – Total Notional Value Traded |
€165.5 billion |
|
BATS Chi-X Europe – Average Daily Notional Value |
€7.5 billion |
|
(1)Based on BATS Chi-X Europe market coverage, available at www.batstrading.co.uk
Volume and Market Share Statistics by Market – U.S. Equities, U.S. Equity Options, European Equities
A complete breakdown of January 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.bats.com/markets
U.S. Equities (The BATS Exchanges) |
||||
January 2013 |
January 2012 |
|||
The BATS Exchanges (BZX & BYX combined) |
(In millions, except percentages; volume and notional figures exclude odd-lots) |
|||
Average daily matched volume |
754.3 |
766.6 |
||
Total notional value traded for the month |
$535,282.2 |
$505,634.8 |
||
Market share percentage (for the period): |
||||
Overall matched market share |
11.7% |
11.1% |
||
Tape A |
10.6% |
9.5% |
||
Tape B |
14.3% |
15.2% |
||
Tape C |
12.6% |
12.1% |
||
Volume By Exchange: |
||||
BZX Exchange: |
||||
Average daily matched volume |
584.1 |
602.5 |
||
Total notional value traded for the month |
$427,332.5 |
$410,636.4 |
||
Market share percentage (for the period): |
||||
Overall matched market share |
9.1% |
8.7% |
||
Tape A |
7.8% |
7.1% |
||
Tape B |
12.0% |
12.8% |
||
Tape C |
10.0% |
9.8% |
||
BYX Exchange: |
||||
Average daily matched volume |
170.2 |
164.1 |
||
Total notional value traded for the month |
$107,949.7 |
$94,998.4 |
||
Market share percentage (for the period): |
||||
Overall matched market share |
2.6% |
2.4% |
||
Tape A |
2.8% |
2.4% |
||
Tape B |
2.3% |
2.5% |
||
Tape C |
2.6% |
2.3% |
||
BATS 1000 Index (a broad-based U.S. equities market benchmark) |
16,937.62 (01/31/13 close) |
15,007.54 (01/31/12 close) |
||
U.S. Equity Options (BATS Options) |
|||||
January 2013 |
January 2012 |
||||
Contracts |
Market share |
Contracts |
Market share |
||
Average daily matched volume |
647,602 |
3.9% |
483,050 |
3.0% |
|
European Equities(2) (BATS Chi-X Europe) |
|||
January 2013 |
January 2012 |
||
(In millions, except percentage) |
|||
Total notional value |
€ 165,454.8 |
€185,123.2 |
|
Average daily notional value |
€ 7,520.7 |
€8,414.7 |
|
Displayed average daily notional value |
€ 6,968.1 |
€7,954.2 |
|
Non-displayed(3) average daily notional value |
€ 552.6 |
€460.5 |
|
Overall European market share |
24.1% |
25.9% |
|
European Equities(1) (continued) |
|||
Market share by market (for the period): |
|||
January 2013 |
January 2012 |
||
London market overall |
30.4% |
34.0% |
|
FTSE 100 securities |
34.1% |
37.9% |
|
FTSE 250 securities |
26.8% |
27.8% |
|
Paris market overall |
25.7% |
27.6% |
|
CAC 40 securities |
27.9% |
29.7% |
|
CAC Next20 securities |
23.2% |
26.1% |
|
Frankfurt market overall |
25.2% |
26.0% |
|
DAX 30 securities |
26.6% |
27.4% |
|
MDAX securities |
27.6% |
26.5% |
|
Amsterdam market overall |
25.8% |
31.2% |
|
AEX securities |
26.7% |
32.0% |
|
AMX securities |
19.5% |
20.2% |
|
Brussels market overall |
24.2% |
25.1% |
|
BEL 20 securities |
25.4% |
27.8% |
|
Milan market overall |
13.6% |
14.5% |
|
FTSE MIB securities |
14.5% |
15.3% |
|
Zurich market overall |
23.4% |
26.6% |
|
SMI securities |
25.4% |
28.3% |
|
SMIM securities |
16.1% |
19.5% |
|
Nordic market overall |
25.2% |
21.8% |
|
Helsinki OMXH25 securities |
23.9% |
24.3% |
|
Stockholm OMXS30 securities |
28.7% |
25.3% |
|
Copenhagen OMXC20 securities |
23.0% |
17.9% |
|
Oslo OBX securities |
20.9% |
17.4% |
|
Vienna market overall |
15.6% |
16.8% |
|
ATX securities |
15.9% |
17.1% |
|
Lisbon market overall |
12.3% |
15.4% |
|
PSI-20 securities |
12.4% |
15.4% |
|
Dublin market overall |
4.9% |
5.5% |
|
ISEQ 20 securities |
5.0% |
5.5% |
|
Madrid market overall |
4.3% |
3.4% |
|
IBEX 35 securities |
4.4% |
3.4% |
|
Key Indices |
|||
EUROSTOXX 50 securities |
22.4% |
23.2% |
|
(2) Represent consolidated figures for BATS Europe (BXE) and Chi-X Europe (CXE) lit and dark books, unless otherwise noted.
(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.
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