- BATS Chi-X Europe Remains Europe's Largest Stock Exchange, U.S. Equities Market Share Increases
KANSAS CITY, Missouri and LONDON, Nov. 4, 2013 /PRNewswire/ -- BATS Global Markets (BATS) today reports October market share and activity, which includes U.S. Department of Justice clearance for the BATS-Direct Edge merger, and the launch of BATS Chi-X Europe's pan-European listings business and BXTR pan-European Trade Reporting Service.
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BATS' European equities exchange, BATS Chi-X Europe, posted overall market share of 22.9% in October, with a new monthly market share record of 9.6% set in Depositary Receipts (FTSE ROIB), surpassing the previous record of 9.0% set in July 2013.
BATS Chi-X Europe remains the largest pan-European stock exchange by market share and notional value traded. Overall, average daily notional value traded on BATS Chi-X Europe was €7.8 billion in October vs €7.9 billion in September. In the European securities markets covered by BATS Chi-X Europe, the total consolidated industry average daily notional value traded was €33.9 billion in October, up from €33.8 billion in September.
In the U.S., BATS reported 10.2% market share in U.S. equities, up from 9.7% reported last month. Overall equities industry average daily volume was 6.3 billion shares vs 6.1 billion shares in September. BATS Options reported market share of 3.6% in October vs 4.1% in September.
"October was a great month of global progress for the company as we seek to provide additional and improved offerings to enhance the trading experience for all investors," said BATS Global Markets CEO Joe Ratterman. "We're also particularly pleased to earn U.S. Department of Justice clearance for the Direct Edge merger and look forward to closing the transaction in the first half of 2014, pending full regulatory approval."
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October 2013 Volume and Market Share Summary
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U.S. Equities
| October 2013
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Overall Industry – Average Daily Consolidated Volume
| 6.3 billion shares
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BATS Exchanges (BZX and BYX Exchange) – Matched Market Share
| 10.2%
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BATS Exchanges (BZX and BYX Exchange) – Average Daily Matched Volume
| 638.8 million shares
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U.S. Equity Options
|
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BATS Options – Matched Market Share
| 3.6%
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BATS Options – Average Daily Matched Volume
| 620,750 contracts
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European Equities
|
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Pan-European Consolidated Volume(1) – Average Daily Notional Value
| €33.9 billion
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BATS Chi-X Europe – Overall European Market Share
| 22.9%
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BATS Chi-X Europe – Total Notional Value Traded
| €179.0 billion
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BATS Chi-X Europe – Average Daily Notional Value
| €7.8 billion
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(1) Based on BATS Chi-X Europe market coverage, available at www.batstrading.co.uk
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October Highlights:
- BATS Global Markets and Direct Edge Holdings LLC received U.S. antitrust clearance for their proposed merger. The transaction, which is subject to additional regulatory approvals, is expected to close in the first half of 2014.
- BATS Chi-X Europe announced the launch of its pan-European Listings Business. iShares®, the exchange-traded funds (ETF) platform of BlackRock (NYSE:BLK), will become the first issuer to list on the Regulated Market segment of the exchange. iShares MSCI Emerging Markets UCITS ETF (Ticker: IEEM) and iShares MSCI World Minimum Volatility UCITS ETF (Ticker: MVOL) are scheduled to begin trading in November 2013 as secondary listings.
- BATS Chi-X Europe rolled out "BXTR," a suite of on- and off-exchange Pan-European Trade Reporting Services, which offers the pan-European trading community a comprehensive solution to report trades with the option to centrally clear and multi-laterally settle off order book trades.
- The U.K Office of Fair Trading (OFT) recommended unconditional clearance for the combination of EMCF and EuroCCP. BATS Chi-X Europe is one of four equal shareholders of the new pan-European cash equities clearing house to be called EuroCCP N.V., pending additional regulatory approvals.
- During October, the BATS BZX Exchange ranked 1st or 2nd in quality of trading in 372 of the 500 stocks that make up the S&P 500® Index, as measured by effective spread, according to the BATS market quality statistics. The BZX Exchange also had the lowest effective spread in 10 of the top 25 exchange traded products.
Volume and Market Share Statistics by Market – U.S. Equities, U.S. Equity Options, European Equities
A complete breakdown of October volume and market share for each market center is outlined below. To track U.S. and European market share for all major trading exchanges and other venues, please visit: http://www.bats.com/markets
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U.S. Equities (The BATS Exchanges)
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| October 2013
| October 2012
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The BATS Exchanges (BZX & BYX combined)
| (In millions, except percentages;
volume and notional figures exclude odd-lots)
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Average daily matched volume
| 638.8
| 794.6
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Total notional value traded for the month
| $570,105.2
| $562,956.3
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Market share percentage (for the period):
|
|
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Overall matched market share
| 10.2%
| 13.0%
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Tape A
| 9.0%
| 12.1%
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Tape B
| 14.5%
| 15.2%
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Tape C
| 9.8%
| 13.7%
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|
|
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Volume By Exchange:
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|
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BZX Exchange:
|
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Average daily matched volume
| 514.6
| 586.1
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Total notional value traded for the month
| $461,969.8
| $433,304.9
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Market share percentage (for the period):
|
|
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Overall matched market share
| 8.2%
| 9.6%
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Tape A
| 7.1%
| 8.4%
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Tape B
| 11.8%
| 12.4%
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Tape C
| 8.1%
| 10.4%
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|
|
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BYX Exchange:
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|
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Average daily matched volume
| 124.2
| 208.6
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Total notional value traded for the month
| $108,135.5
| $129,651.4
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Market share percentage (for the period):
|
|
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Overall matched market share
| 2.0%
| 3.4%
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Tape A
| 1.9%
| 3.7%
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Tape B
| 2.7%
| 2.8%
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Tape C
| 1.7%
| 3.3%
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|
|
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BATS 1000 Index
(a broad-based U.S. equities market benchmark)
| 19,851.93
(10/31/13 close)
| 15,880.03
(10/31/12 close)
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U.S. Equity Options (BATS Options)
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| October 2013
| October 2012
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| Contracts
| Market share
| Contracts
| Market share
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Average daily matched volume
| 620,750
| 3.6%
| 535,288
| 3.6%
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European Equities(2) (BATS Chi-X Europe)
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| October 2013
| October 2012
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| (In millions, except percentage)
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Total notional value
| €178,963.4
| €160,184.9
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Average daily notional value
| €7,781.0
| €6,964.6
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Displayed average daily notional value
| €7,049.9
| €6,503.0
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Non-displayed(3) average daily notional value
| €731.1
| €461.6
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Overall European market share
| 22.9%
| 24.8%
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|
|
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Market share by market (for the period):
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| October 2013
| October 2012
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London market overall
| 27.3%
| 28.4%
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FTSE 100 securities
| 30.6%
| 31.6%
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FTSE 250 securities
| 21.7%
| 27.4%
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|
|
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Nordic market overall
| 27.2%
| 26.3%
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Helsinki OMXH25 securities
| 29.6%
| 27.1%
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Stockholm OMXS30 securities
| 30.1%
| 29.3%
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Copenhagen OMXC20 securities
| 24.0 %
| 24.3%
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Oslo OBX securities
| 23.0%
| 21.8%
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|
|
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Frankfurt market overall
| 24.9%
| 27.2%
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DAX 30 securities
| 26.6%
| 27.9%
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MDAX securities
| 23.7%
| 30.0%
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SDAX securities
| 8.5%
| 7.14%
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|
|
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Zurich market overall
| 24.1%
| 25.0%
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SMI securities
| 26.2%
| 26.7%
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SMIM securities
| 17.8%
| 18.0%
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|
|
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Paris market overall
| 23.3%
| 25.5%
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CAC 40 securities
| 24.3%
| 26.9%
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CAC Next20 securities
| 23.5%
| 25.5%
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|
|
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Brussels market overall
| 22.7%
| 23.9%
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BEL 20 securities
| 24.3%
| 24.6%
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|
|
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Amsterdam market overall
| 22.2%
| 27.4%
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AEX securities
| 22.7%
| 27.7%
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AMX securities
| 18.1%
| 22.5%
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|
|
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Vienna market overall
| 15.8%
| 18.5%
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ATX securities
| 16.6%
| 18.9%
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|
|
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Milan market overall
| 11.8%
| 13.2%
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FTSE MIB securities
| 12.7%
| 13.9%
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|
|
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Madrid market overall
| 13.0%
| 3.6%
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IBEX 35 securities
| 13.9%
| 3.7%
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|
|
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Lisbon market overall
| 10.5%
| 15.5%
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PSI-20 securities
| 10.6%
| 15.6%
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|
|
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Dublin market overall
| 6.7%
| 6.7%
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ISEQ 20 securities
| 6.7%
| 6.7%
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Key Indices
EUROSTOXX 50 securities
| 22.1%
| 22.9%
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FTSE RIOB
| 9.6%
| 5.24%
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(2) Represent consolidated figures for BATS Europe (BXE) and Chi-X Europe (CXE) lit and dark books, unless otherwise noted.
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(3) BXE and CXE non-displayed order books.
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About BATS Global Markets, Inc.
BATS Global Markets, Inc. (BATS) is a leading operator of securities markets in the U.S. and Europe. In the U.S., BATS operates two stock exchanges, the BATS BZX Exchange and BYX Exchange; BATS Options, a U.S. equity options market; and the BATS 1000 Index, an innovative U.S. equities market benchmark. The BATS BZX Exchange is a primary listings venue for exchange-traded products and is home to 20 exchange-traded funds. In Europe, BATS Chi-X Europe, a Recognised Investment Exchange regulated by the UK Financial Conduct Authority (FCA), and the largest pan-European equities exchange by market share and value traded, offers trading in more than 3,000 equities across 25 indices and 15 major European markets and a listings venue for exchange-traded products. 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.