BATS Chi-X Europe Sets New Monthly Spanish Market Share Record
Overall European Market Share 22.5%; U.S. Equities 10.6%; U.S. Options 3.8%
KANSAS CITY, Mo., and LONDON, April 3, 2013 /PRNewswire/ -- BATS Global Markets (BATS), a leading operator of securities markets in the U.S. and Europe, today reported March volume and activity including a new monthly market share record in Spain, where BATS Chi-X Europe earned 12.8% market share, exceeding its previous record of 8.9% set in February 2013.
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Over the past two months, the average daily notional value traded on BATS Chi-X Europe in Spain's IBEX 35 has increased 292% to €247.5 million in March from €63.1 million in January. BATS Chi-X Europe, the largest pan-European equities exchange by notional value traded and market share, recorded overall market share of 22.5% compared to 23.5% in February and 24.3% a year ago. Average daily notional value was €7.9 billion in March vs. €8.0 billion in February.
"BATS Chi-X Europe's continued momentum in the Spanish market further strengthens our position in one of Europe's key markets, but our growth in Europe extends well beyond market share," said Joe Ratterman, chief executive of BATS Global Markets. "The news we announced in March to become a shareholder in the proposed combination of the EuroCCP and EMCF clearinghouses is a significant step forward for our company as it aligns closely with our vision for an integrated pan-European market structure."
In the U.S., BATS Options reported 3.8% market share in March vs. 2.4% a year ago and 4.0% last month. BATS' U.S. equities market share came in at 10.6% in March vs. 10.9% a year ago and 11.1% in February.
In March, overall equities industry volumes in the U.S. declined month-over-month and year-over-year. In the U.S., overall equities volume averaged 6.1 billion shares a day in March, down from a daily average of 6.6 billion shares in February and 6.6 billion shares a day one year ago.
In the European securities markets covered by BATS Chi-X Europe, the total consolidated industry average daily notional value traded was up month-over-month to €34.9 billion in March vs. €34.0 billion in February and down from €35.6 billion one year ago.
Additional March Highlights:
- BATS successfully operated all of its U.S. operations from its disaster recovery site for the first time on March 14 as part of its ongoing Business Continuity Planning efforts.
- BATS Chi-X Europe entered into a Term Sheet to become one of four equal shareholders in the new pan-European clearing house that is being created through the merger of EMCF and EuroCCP. The deal, which is subject to regulatory approval, will create the largest cash equities clearing house in Europe.
- BATS Options listed and began offering free trading on Mini Options on five high-priced and actively-traded securities: Apple, Google, Amazon, SPDR Gold Trust and SPDR S&P 500.
- BATS released new Market Quality Statistics comparing the execution quality across all U.S. exchanges for individual securities, the S&P 500® Index, the BATS 1000® Index, and the top 100 U.S. corporate securities and exchange-traded funds.
March 2013 Volume and Market Share Summary
| U.S. Equities |
March 2013 |
| Overall Industry – Average Daily Consolidated Volume |
6.1 billion shares |
| BATS Exchanges (BZX and BYX Exchange) – Matched Market Share |
10.6% |
| BATS Exchanges (BZX and BYX Exchange) – Average Daily Matched Volume |
651.8 million shares |
| U.S. Equity Options |
|
| Overall Industry – Average Daily Consolidated Volume |
15.2 million contracts |
| BATS Options – Matched Market Share |
3.8% |
| BATS Options – Average Daily Matched Volume |
574,846 contracts |
| European Equities |
|
| Pan-European Total Consolidated Volume1 – Average Daily Notional Value |
€34.9 billion |
| BATS Chi-X Europe – Overall European Market Share |
22.5% |
| BATS Chi-X Europe – Total Notional Value Traded |
€157.3 billion |
| BATS Chi-X Europe – Average Daily Notional Value |
€7.9 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 March 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) |
||
| March 2013 |
March 2012 |
|
| The BATS Exchanges (BZX & BYX combined) |
(In millions, except percentages; volume and notional figures exclude odd-lots) |
|
| Average daily matched volume |
651.8 |
723.3 |
| Total notional value traded for the month |
$468,447.3 |
$550,037.5 |
| Market share percentage (for the period): |
||
| Overall matched market share |
10.6% |
10.9% |
| Tape A |
9.3% |
9.4% |
| Tape B |
14.1% |
14.5% |
| Tape C |
11.3% |
11.9% |
| Volume By Exchange: |
||
| BZX Exchange: |
||
| Average daily matched volume |
535.3 |
549.9 |
| Total notional value traded for the month |
$396,430.7 |
$438,101.3 |
| Market share percentage (for the period): |
||
| Overall matched market share |
8.7% |
8.3% |
| Tape A |
7.4% |
6.8% |
| Tape B |
12.0% |
11.8% |
| Tape C |
9.5% |
9.3% |
| BYX Exchange: |
||
| Average daily matched volume |
116.5 |
173.5 |
| Total notional value traded for the month |
$72,016.7 |
$111,936.2 |
| Market share percentage (for the period): |
||
| Overall matched market share |
1.9% |
2.6% |
| Tape A |
1.9% |
2.6% |
| Tape B |
2.1% |
2.7% |
| Tape C |
1.8% |
2.5% |
| BATS 1000 Index (a broad-based U.S. equities market benchmark) |
17,773.47 (03/28/13 close) |
15,866.96 (03/30/12 close) |
| U.S. Equity Options (BATS Options) |
||||||||
| March 2013 |
March 2012 |
|||||||
| Contracts |
Market share |
Contracts |
Market share |
|||||
| Average daily matched volume |
574,846 |
3.8% |
402,849 |
2.4% |
||||
| European Equities2 (BATS Chi-X Europe) |
||||||||
| March 2013 |
March 2012 |
|||||||
| (In millions, except percentage) |
||||||||
| Total notional value |
€157,286.6 |
€189,953.5 |
||||||
| Average daily notional value |
€7,864.3 |
€8,634.3 |
||||||
| Displayed average daily notional value |
€7,293.3 |
€8,163.6 |
||||||
| Non-displayed3 average daily notional value |
€571.0 |
€470.7 |
||||||
|
Overall European market share |
22.5% |
24.3% |
||||||
| Market share by market (for the period): |
||
| March 2013 |
March 2012 |
|
| London market overall |
25.8% |
30.1% |
| FTSE 100 securities |
29.0% |
35.1% |
| FTSE 250 securities |
21.2% |
26.1% |
| Paris market overall |
23.4% |
26.3% |
| CAC 40 securities |
25.0% |
27.9% |
| CAC Next20 securities |
19.6% |
25.4% |
| Frankfurt market overall |
23.4% |
24.7% |
| DAX 30 securities |
24.8% |
25.9% |
| MDAX securities |
22.3% |
26.3% |
| Amsterdam market overall |
24.0% |
28.3% |
| AEX securities |
25.0% |
29.3% |
| AMX securities |
16.7% |
20.4% |
| Brussels market overall |
21.8% |
23.2% |
| BEL 20 securities |
23.1% |
25.6% |
| Milan market overall |
14.4% |
14.0% |
| FTSE MIB securities |
15.4% |
14.8% |
| Zurich market overall |
20.7% |
24.6% |
| SMI securities |
22.5% |
26.4% |
| SMIM securities |
14.6% |
17.9% |
| Nordic market overall |
25.5% |
23.2% |
| Helsinki OMXH25 securities |
24.0% |
27.5% |
| Stockholm OMXS30 securities |
29.0% |
25.9% |
| Copenhagen OMXC20 securities |
23.9% |
19.3% |
| Oslo OBX securities |
21.0% |
19.0% |
| Vienna market overall |
12.6% |
14.7% |
| ATX securities |
12.9% |
14.9% |
| Lisbon market overall |
11.6% |
16.1% |
| PSI-20 securities |
11.7% |
16.2% |
| Dublin market overall |
4.7% |
4.6% |
| ISEQ 20 securities |
4.7% |
4.6% |
| Madrid market overall |
12.5% |
4.5% |
| IBEX 35 securities |
12.8% |
4.6% |
| Key Indices |
||
| EUROSTOXX 50 securities |
22.2% |
22.7% |
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. 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.
SOURCE BATS Global Markets
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