BATS Global Markets August Highlights: Company Announces Merger Agreement With Direct Edge; Reports 24.1% Overall European Market Share
BATS Chi-X Europe Continues Strong Performance in Spain; BATS Options Reports 4.1% Market Share
KANSAS CITY, Mo., and LONDON, Sept. 4, 2013 /PRNewswire/ -- BATS Global Markets (BATS) today reported that BATS Chi-X Europe posted overall market share of 24.1% in August, with new monthly market share records set in Oslo's OBX (25.1%) and Stockholm's OMXS30 (31.6%).
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BATS Chi-X Europe showed continued strong performance in Spain, matching last month's record of 15.6% in Spain's IBEX 35. Overall, average daily notional value traded on BATS Chi-X Europe was €7.0 billion in August vs €7.3 billion in July.
BATS Global Markets' biggest highlight in August was the merger agreement with Direct Edge Holdings, a pivotal moment for both companies as well as the U.S. – and global – trading markets.
"The planned merger with Direct Edge will be a huge win for both companies and, more importantly, the valued customers of both firms," said BATS Global Markets CEO Joe Ratterman. "This combination of two like-minded, customer-focused organizations will drive continued innovation and competition in the U.S. equities marketplace."
"Overseas, we remain excited about the progress of BATS Chi-X Europe, which continues to set several market share records on a monthly basis as a Recognised Investment Exchange," he said.
In the U.S., BATS Options reported market share of 4.1% in August vs 4.3% in July. U.S. equities market share was 9.7% in August as overall equities industry average daily volume was lower this month at 5.5 billion shares compared to 5.7 billion shares in July. In the European securities markets covered by BATS Chi-X Europe, the total consolidated industry average daily notional value traded was €28.7 billion in August, down from €29.8 billion in July.
Additional August Highlights:
- BATS Global Markets and Direct Edge announced a definitive merger agreement on August 26th, which will bring together two customer-focused securities exchange operators under the BATS Global Markets enterprise to drive further innovation and better serve investors. The deal is subject to regulatory approval.
- In August, Spectrum Equity and TA Associates acquired a stake in BATS Global Markets through the acquisition of all shares held by the Lehman Estate.
- During August, the BATS BZX Exchange ranked 1st or 2nd in quality of trading in 382 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 11 of the top 25 exchange traded products.
August 2013 Volume and Market Share Summary
| U.S. Equities |
August 2013 |
| Overall Industry – Average Daily Consolidated Volume |
5.5 billion shares |
| BATS Exchanges (BZX and BYX Exchange) – Matched Market Share |
9.7% |
| BATS Exchanges (BZX and BYX Exchange) – Average Daily Matched Volume |
531.0 million shares |
| U.S. Equity Options |
|
| BATS Options – Matched Market Share |
4.1% |
| BATS Options – Average Daily Matched Volume |
592,767 contracts |
| European Equities |
|
| Pan-European Total Consolidated Volume1 – Average Daily Notional Value |
€28.7 billion |
| BATS Chi-X Europe – Overall European Market Share |
24.1% |
| BATS Chi-X Europe – Total Notional Value Traded |
€153.6 billion |
| BATS Chi-X Europe – Average Daily Notional Value |
€7.0 billion |
| 1Based 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 August 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
| U.S. Equities (The BATS Exchanges) |
||
| August 2013 |
August 2012 |
|
| The BATS Exchanges (BZX & BYX combined) |
(In millions, except percentages; volume and notional figures exclude odd-lots) |
|
| Average daily matched volume |
531.0 |
693.6 |
| Total notional value traded for the month |
$436,496.6 |
$505,538.5 |
| Market share percentage (for the period): |
||
| Overall matched market share |
9.7% |
12.8% |
| Tape A |
8.3% |
11.8% |
| Tape B |
13.6% |
15.1% |
| Tape C |
9.8% |
13.4% |
| Volume By Exchange: |
||
| BZX Exchange: |
||
| Average daily matched volume |
428.8 |
492.6 |
| Total notional value traded for the month |
$357,151.5 |
$378,684.9 |
| Market share percentage (for the period): |
||
| Overall matched market share |
7.8% |
9.1% |
| Tape A |
6.6% |
8.0% |
| Tape B |
11.1% |
11.8% |
| Tape C |
8.2% |
9.8% |
| BYX Exchange: |
||
| Average daily matched volume |
102.2 |
201.0 |
| Total notional value traded for the month |
$79,345.1 |
$126,853.6 |
| Market share percentage (for the period): |
||
| Overall matched market share |
1.9% |
3.7% |
| Tape A |
1.8% |
3.9% |
| Tape B |
2.5% |
3.3% |
| Tape C |
1.7% |
3.6% |
| BATS 1000 Index (a broad-based U.S. equities market benchmark) |
18,395.28 (08/31/13 close) |
15,740.69 (08/31/12 close) |
| U.S. Equity Options (BATS Options) |
||||||
| August 2013 |
August 2012 |
|||||
| Contracts |
Market share |
Contracts |
Market share |
|||
| Average daily matched volume |
592,767 |
4.1% |
485,935 |
3.7% |
||
| European Equities2 (BATS Chi-X Europe) |
||
| August 2013 |
August 2012 |
|
| (In millions, except percentage) |
||
| Total notional value |
€153,626.6 |
€133,917.2 |
| Average daily notional value |
€6,983.0 |
€5,822.4 |
| Displayed average daily notional value |
€6,424.2 |
€5,485.9 |
| Non-displayed3 average daily notional value |
€558.8 |
€336.5 |
| Overall European market share |
24.1% |
23.8% |
| Market share by market (for the period): |
||
| August 2013 |
August 2012 |
|
| London market overall |
27.6% |
29.1% |
| FTSE 100 securities |
30.8% |
32.2% |
| FTSE 250 securities |
21.4% |
26.5% |
| Paris market overall |
23.1% |
23.5% |
| CAC 40 securities |
24.4% |
24.5% |
| CAC Next20 securities |
20.1% |
24.8% |
| Frankfurt market overall |
26.4% |
25.2% |
| DAX 30 securities |
28.5% |
26.2% |
| MDAX securities |
22.2% |
29.0% |
| Amsterdam market overall |
21.0% |
25.4% |
| AEX securities |
21.4% |
25.9% |
| AMX securities |
18.0% |
19.5% |
| Brussels market overall |
22.5% |
21.9% |
| BEL 20 securities |
23.7% |
22.1% |
| Milan market overall |
12.8% |
11.9% |
| FTSE MIB securities |
13.6% |
12.4% |
| Zurich market overall |
25.7% |
25.2% |
| SMI securities |
28.0% |
27.0% |
| SMIM securities |
19.2% |
15.8% |
| Nordic market overall |
28.2% |
24.9% |
| Helsinki OMXH25 securities |
30.4% |
26.0% |
| Stockholm OMXS30 securities |
31.6% |
28.0% |
| Copenhagen OMXC20 securities |
25.4% |
22.3% |
| Oslo OBX securities |
25.1% |
20.5% |
| Vienna market overall |
16.9% |
18.4% |
| ATX securities |
17.2% |
18.7% |
| Lisbon market overall |
11.2% |
16.1% |
| PSI-20 securities |
11.2% |
16.3% |
| Dublin market overall |
6.7% |
6.0% |
| ISEQ 20 securities |
6.7% |
6.0% |
| Madrid market overall |
15.0% |
3.4% |
| IBEX 35 securities |
15.6% |
3.5% |
| Key Indices EUROSTOXX 50 securities |
23.8% |
21.3% |
| FTSE RIOB |
8.0% |
4.0% |
| 2Represent consolidated figures for BATS Europe (BXE) and Chi-X Europe (CXE) lit and dark books, unless otherwise noted. |
| 3BXE 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. 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 19 exchange-traded funds. In Europe, BATS Chi-X Europe, a Recognised Investment Exchange and the largest pan-European equities exchange by market share and value traded, offers trading in more than 2,700 equities across 25 indices and 15 major European markets. 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.
SOURCE BATS Global Markets
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