BATS Reports Continued Strong Market Share in May; Second-Best Month for U.S. Options Business, 21.2% U.S. Equities Market Share
BATS Global Markets (BATS) today reported May data and highlights including the company’s best market share month since October 2013 in European equities and the second-best month in U.S. options.
BATS reported 9.7% market share in U.S. options, up from 3.8% one year ago. In U.S. equities, BATS reported market share of 21.2%, its third-best month on record, while BATS remained the #1 U.S. market for exchange-trade fund (ETF) trading in May, executing 26.1% of all ETF trading volume.
In Europe, BATS Chi-X Europe continued an exceptionally strong run with 24.4% market share. Year-on-year figures rose in 14 of the 15 markets in which the exchange offers trading. The exchange recorded its best-ever month in Spain with IBEX35 market share of 23.5%, up from 14.0% year-on-year.
In Europe, BXTR, the company’s trade reporting facility, also retained the #1 spot, and recorded its second-best month ever with €480.2 billion reported, an average of €22.9 billion per trading day.
Hotspot, BATS’ institutional spot foreign exchange market, posted average daily volume of $26.8 billion in May, up from $25.9 billion one year ago. As of June 1st, Hotspot has eliminated liquidity removal fees for customers in more than 30 select currency pairs on the “Hot List” until at least year-end 2015.
In all, the BATS markets executed $117.9 billion of notional volume per day in May.
May 2015 Volume and Market Share Overview
| U.S. Equities (BATS Exchanges – BZX, BYX, EDGA, EDGX) | May 2015 | |
| Overall Industry – Average Daily Consolidated Volume | 6.2 billion shares | |
| BATS Exchanges – Matched Market Share | 21.2% | |
| BATS Exchanges – Average Daily Matched Volume | 1.31 billion shares | |
| U.S. Equity Options (BATS Options) | ||
| BATS Options (BZX Options) – Matched Market Share | 9.7% | |
| BATS Options (BZX Options) – Average Daily Matched Volume | 1,447,055 contracts | |
| European Equities (BATS Chi-X Europe) | ||
| Pan-European Consolidated Volume1 – Average Daily Notional Value | €48.8 billion | |
| BATS Chi-X Europe – Overall European Market Share | 24.4% | |
| BATS Chi-X Europe – Total Notional Value Traded | €250.4 billion | |
| BATS Chi-X Europe – Average Daily Notional Value | €11.9 billion | |
|
European Trade Reporting (BXTR) |
|
|
| BXTR – Total Notional Value Reported | €480.2 billion | |
| BXTR – Average Daily Notional Value Reported | €22.9 billion | |
| Foreign Exchange (Hotspot) | ||
| Total Volume Traded (U.S. Dollar) | $561.9 billion | |
| Average Daily Volume (ADV) | $26.8 billion |
1 Based on BATS Chi-X Europe market coverage, available at www.batstrading.co.uk
Additional monthly highlights are outlined below by business line.
U.S. Equities – Highlights, Volume and Market Share Statistics
- BATS reported U.S. equities market share of 21.2% in May, up from 20.1% one year ago. Average daily matched volume on the BATS Exchanges was 1.31 billion shares, up from 1.16 billion shares one year ago.
- BATS’ options exchange, BZX Options, remained the largest maker-taker pricing options exchange in May with 9.7% market share, up from 3.8% one year ago.
- On May 4th, BATS successfully completed the migration of all of its U.S. markets to the Equinix NY5 data center in Secaucus, N.J., concluding an 18-month process related to the acquisition of Direct Edge.
- On May 5th, BATS filed its Exclusive Listings Proposal with the SEC, which seeks to improve investors’ trading experience in thinly-traded securities.
- During May, the BZX Exchange ranked 1st or 2nd in quality of trading in 62% of the stocks in the S&P 500® Index, as measured by effective spread, according to the BATS market quality statistics.
- Combined, the BATS Exchanges had the lowest effective spread in 51 of the top 100 exchange-traded products in May.
- The five most actively-traded options classes on BZX Options during May were the Standard & Poor’s Depositary Receipt ETF Trust (SPY), Apple Inc. (AAPL), iShares Russell 2000 Index ETF (IWM), Facebook Inc. (FB), and Alibaba Group Holding Ltd. (BABA).
| U.S. EQUITIES: BATS Exchanges (BYX, BZX, EDGA, EDGX) Volume and Market Share | |||||||
| May 2015 | May 2014 | ||||||
| BATS Exchanges percentage of overall U.S. equities market share | 21.2% | 20.1% | |||||
| Average daily volume (ADV) traded on BATS Exchanges | 1.31 billion shares | 1.16 billion shares | |||||
| Total industry volume | 6.20 billion shares | 5.76 billion shares | |||||
| Total notional value traded on BATS Exchanges | $1.04 trillion | $953.6 billion | |||||
| Average daily notional value traded on BATS Exchanges | $51.9 billion | $45.4 billion | |||||
| BATS overall market share – Tape A securities | 18.8% | 18.0% | |||||
| BATS overall market share – Tape B securities | 25.9% | 24.8% | |||||
| BATS overall market share – Tape C securities | 22.4% | 21.2% | |||||
| BATS overall market share in ETF trading | 26.1% | 26.3%2 | |||||
|
BATS 1000 Index monthly performance and close |
+0.5% |
+1.9% |
|||||
For additional U.S. equities market volume information:
BATS
U.S. Equities Market Volume Summary
2
ETF
data is sequential
| U.S. OPTIONS: BATS Options Volume and Market Share | ||||||
| May 2015 | May 2014 | |||||
| Average daily matched volume (contracts) | 1,447,055 | 554,009 | ||||
| Average daily matched volume (market share) | 9.7% | 3.8% | ||||
For additional U.S. Options market volume information: BATS U.S. Options Market Volume Summary
European Equities – BATS Chi-X Europe Highlights, Volume and Market Share Statistics
- Monthly market share was 24.4% with average daily notional value traded during April at €11.9 billion, up 61.6% year-on-year. Year-on-year, market share rose substantially in 14 of the 15 markets BATS Chi-X Europe covers.
|
BATS Chi-X Europe Market Share by Market
3
|
|||||||
| May 2015 | May 2014 | ||||||
| BATS Chi-X Europe overall market share | 24.4% | 20.6% | |||||
| BATS Chi-X Europe Average daily notional value |
€11,925.3 |
€7,377.4 | |||||
| Displayed average daily notional value |
€10,638.3 |
€6,636.0 | |||||
| Non-displayed4 average daily notional value |
€1,287.0 |
€741.4 | |||||
| London market overall | 23.7% | 23.9% | |||||
| FTSE 100 securities | 24.8% | 26.4% | |||||
| FTSE 250 securities | 24.0% | 20.7% | |||||
| Paris market overall | 23.7% | 22.1% | |||||
| CAC 40 securities | 24.8% | 22.8% | |||||
| CAC Next20 securities | 24.0% | 22.7% | |||||
| Frankfurt market overall | 28.2% | 21.4% | |||||
| DAX 30 securities | 29.4% | 23.5% | |||||
| MDAX securities | 31.1% | 18.8% | |||||
| TecDAX securities | 25.4% | 8.5% | |||||
| Amsterdam market overall | 26.3% | 20.5% | |||||
| AEX securities | 27.3% | 21.3% | |||||
| AMX securities | 20.7% | 19.0% | |||||
| Brussels market overall | 26.8% | 21.6% | |||||
| BEL 20 securities | 27.0% | 22.1% | |||||
| Milan market overall | 15.0% | 12.9% | |||||
| FTSE MIB securities | 15.9% | 13.6% | |||||
| Zurich market overall | 21.5% | 21.4% | |||||
| SMI securities | 22.9% | 23.4% | |||||
| SMIM securities | 22.9% | 20.1% | |||||
| Nordic market overall | 26.7% | 22.5% | |||||
| Helsinki OMXH25 securities | 32.6% | 25.7% | |||||
| Stockholm OMXS30 securities | 28.8% | 23.5% | |||||
| Copenhagen OMXC20 securities | 24.7% | 20.4% | |||||
| Oslo OBX securities | 23.4% | 22.7% | |||||
| Vienna market overall | 20.1% | 18.3% | |||||
| ATX securities | 20.9% | 19.4% | |||||
| Lisbon market overall | 16.7% | 7.7% | |||||
| PSI-20 securities | 16.8% | 7.9% | |||||
| Dublin market overall | 16.6% | 9.1% | |||||
| ISEQ 20 securities | 16.6% | 9.2% | |||||
| Madrid market overall | 22.1% | 13.4% | |||||
| IBEX 35 securities | 23.5% | 14.0% | |||||
|
Key Indices |
|
|
|||||
| EUROSTOXX 50 securities | 25.3% | 20.0% | |||||
| FTSE RIOB | 8.7% | 6.1% | |||||
3
Represent consolidated figures for BXE and CXE
lit and dark books, unless otherwise noted.
4
BXE
and CXE non-displayed order books.
For additional European equities market volume information: BATS Pan-European Market Volume Summary
Foreign Exchange – Hotspot Highlights, Volume and Market Share Statistics 5
Hotspot daily, monthly, and quarterly volumes are posted on the Hotspot website.
- Hotspot posted average daily volume of $26.8 billion in May, up 3.4% from $25.9 billion one year ago. Total volume traded on Hotspot in May was $561.9 billion (21 trading days), down from $569.2 billion one year ago (22 trading days).
- On May 28, Hotspot announced new standards for Hotspot liquidity providers that qualify as Market Makers, including reduced timeframes for acting on Non-Firm Liquidity and high targets acceptance rates for such orders.
- On May 5, Hotspot announced plans to eliminate liquidity removal fees for customers in more than 30 select currency pairs. The pricing went into effect on June 1st and will continue until at least year-end 2015.
| Hotspot Market Statistics | |||||||
| May 2015 | May 2014 | ||||||
| Total Volume Traded (U.S. Dollar) | $561.9 billion | $569.2 billion | |||||
| Average Daily Volume (ADV) | $26.8 billion | $25.9 billion | |||||
| Number of Trading Days | 21 | 22 | |||||
| Hotspot Volume Percentage Breakdown | |||||||
| May 2015 | May 2014 | ||||||
| Europe | 45.2% | 46.7% | |||||
| Americas | 40.2% | 40.1% | |||||
| Asia | 14.6% | 13.2% | |||||
| Top Five currency pairs in May by volume percentage | |||
| Currency Pair | Percentage | ||
| EUR/USD | 30.1% | ||
| USD/JPY | 15.7% | ||
| GBP/USD | 12.1% | ||
| AUD/USD | 8.6% | ||
| USD/CAD | 6.3% | ||
5 Market share figures are for full month. BATS closed its acquisition of Hotspot on March 13, 2015. Hotspot volumes represent the notional value in U.S. dollars of all trades executed on the platform, counting one side of the transaction. Hotspot Volume Percentage Breakdown is based on the times at which the trades were executed, based on EST (i.e. EST: Asia: 5pm-2am, Europe: 2am-9am, US: 9am-5pm).
About BATS Global Markets, Inc.
BATS Global Markets, Inc., a leading global operator of exchanges and services for financial markets, is committed to Making Markets Better for traders, investors and issuers. In Europe, BATS operates the largest pan-European equities exchange, offering trading and listing services across 15 major European markets, as well as BXTR, the continent’s largest trade reporting facility. In the U.S., BATS operates four stock exchanges – BZX, BYX, EDGX and EDGA – and regularly ranks as the top market for ETF and retail-driven liquidity. The company is a listing venue for ETFs and other structured products, also operates a U.S. equity options market, BATS BZX Options, and is launching BATS EDGX Options later in 2015. Globally, BATS serves the foreign exchange (FX) market, the world’s largest asset class, with Hotspot, a leading institutional spot foreign exchange market. With its world-class technology and relentless customer focus, BATS strives to bring efficiency, transparency and fairness to market participants. The company is headquartered in Kansas City with offices in New York, London, Chicago and Singapore. Further information on BATS can be found at www.bats.com and by following us on Twitter @BATSGlobal.
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Contact information
BATS
Randy Williams (NYC),
+1.212.378.8522
or
Stacie Fleming (KC), +1.913.815.7193
or
Hannah
Randall (London), +44.207.012.8950
comms@bats.com
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