Market Overview

Bats Global Markets Reports Record U.S. Options Market Share in April

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KANSAS CITY, Mo. & NEW YORK & LONDON--(BUSINESS WIRE)--

Bats Global Markets, Inc. (Bats: BATS), a leading global operator of exchanges and services for financial markets, today reported April data and highlights, including record U.S. Options market share of 11.6% vs. 9.9% a year ago.

Additional Bats highlights for April include:

  • Remaining the #1 U.S. market operator for ETF trading, executing 24.7% of all April volume.
  • Maintaining its position as the second-largest U.S. Equities market operator with 20.4% market share. During the continuous trading period, from 9:30 a.m.-4 p.m. ET, Bats is the largest U.S. Equities market operator.
  • Retaining its position as the largest European stock exchange with 22.5% market share and the largest trade reporting facility with €420.3 billion reported to BXTR for the month.
  • Average daily volume of $25.6 billion for Hotspot, the company's institutional spot foreign exchange market.
  • More than $110 billion of notional value per day touched by the Bats markets in April, including BXTR.
  • Closing of its acquisition of ETF.com on April 1.
  • Completion of its IPO on Bats Exchange of 15,295,000 shares of common stock for $19.00 per share.

April 2016 Volume and Market Share Overview

         
U.S. Equities (Bats Exchanges – BZX, BYX, EDGA, EDGX)       April 2016
Bats Exchanges – Overall market share       20.4%
Bats Exchanges – Average daily matched volume (shares)       1.45 billion
Overall Industry – Average daily consolidated volume (shares)       7.10 billion
U.S. Equity Options (Bats Options – BZX Options + EDGX Options)        
Bats Options – Overall market share       11.6%
Bats Options – Average daily matched volume (contracts)       1,793,630
Overall Industry – Avery daily consolidated volume (contracts)       15.5 billion
European Equities (Bats Europe Equities )        
Bats Europe – Overall European market share       22.5%
Bats Europe – Average daily notional value       €10.4 billion

Pan-European Consolidated Volume1 – Average daily notional value

      €45.9 billion

European Trade Reporting (BXTR)

       
BXTR – Total notional value reported       €420.3 billion
BXTR – Average daily notional value reported       €20.0 billion
     
         
Foreign Exchange (Hotspot)        
Total volume traded (U.S. Dollar)       $537.4 billion
Average daily volume (ADV)       $25.6 billion
     

Highlights for the month of April are outlined below by business line.

U.S. EQUITIES: Bats Exchanges (BYX, BZX, EDGA, EDGX) Volume & Market Share

  • During April, the BZX Exchange ranked 1st or 2nd in quality of trading in 44.8% 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 56% of the top 50 exchange-traded products in April.
               
        April 2016     April 2015
Bats Exchanges – Overall market share       20.4%     21.2%
Bats Exchanges – Average daily volume traded (shares)       1.45 billion     1.36 billion
Bats Exchanges – Average daily notional value traded       $50.3 billion     $53.9 billion
Bats Exchanges – Total notional value traded for month       $1.06 trillion     $1.13 trillion
Bats Exchanges market share – Tape A securities       18.4%     18.8%
Bats Exchanges market share – Tape B securities       24.3%     26.1%
Bats Exchanges market share – Tape C securities       21.6%     22.5%
Bats Exchanges market share in ETF trading       24.7%     26.3%
         

For additional U.S. equities market volume information: Bats U.S. Equities Market Volume Summary

U.S. OPTIONS: Bats Options (BZX Options + EDGX Options) Volume & Market Share

               
        April 2016     April 2015
Bats Options – Overall market share       11.6%     9.9%
BZX Options – Market share       10.8%     9.9%
EDGX Options – Market share       0.8%     N/A
Bats Options – Overall average daily volume (contracts)       1,793,630     1,505,178
BZX Options – Average daily volume       1,673,214     1,505,178
EDGX Options – Average daily volume       120,416     N/A
         

For additional U.S. Options market volume information: Bats U.S. Options Market Volume Summary

FOREIGN EXCHANGE: Hotspot Highlights, Volume and Market Share Statistics2

  • Average daily volume traded on Hotspot's London-area matching engine was $827 million, equating to 3.2% of overall volume available on the platform, a new record.
 
Hotspot Highlights
Hotspot Market Statistics       April 2016     April 2015
Total volume traded (U.S. Dollar)       $537.4 billion     $625.4 billion
Average daily volume (ADV)       $25.6 billion     $28.4 billion
Number of trading days       21     22
Hotspot Volume Percentage Breakdown              
Europe       41.7%     43.8%
Americas       43.1%     42.1%
Asia       15.2%     14.1%
Top Five Currency Pairs by Volume Percentage              
EUR/USD       24.7%     31.4%
USD/JPY       16.5%     15.6%
GBP/USD       10.7%     10.8%
AUD/USD       8.7%     9.4%
USD/CAD       7.5%     7.3%
         

Hotspot daily, monthly, and quarterly volumes are posted on the Hotspot website.

EUROPE: Bats Europe + BXTR Volume & Market Share3

  • According to Bats statistics on market size, 39.5% of all equity transactions in Europe (either traded on exchange or OTC) touched Bats' systems in April.
               
        April 2016     April 2015
Bats Europe Equities              
Bats Europe – Overall market share       22.5%     24.1%
Bats Europe – Average daily notional value traded       €10.4 billion     €13.6 billion
Displayed average daily notional value       €9.1 billion     €12.1 billion

Non-displayed4 average daily notional value

      €1.3 billion     €1.5 billion
Bats Europe – Total notional value traded       €217.5 billion     €271.5 billion
Bats Europe Trade Reporting (BXTR)              
BXTR – Total notional value reported       €420.3 billion     €504.9 billion
BXTR – Average daily notional value reported       €20.0 billion     €25.2 billion
         

EUROPE: Bats Europe Equities % Market Share

For additional European Equities market volume information: Bats Europe Market Volume Summary

             
        April 2016   April 2015
London market overall       25.0%   23.2%
FTSE 100 securities       26.3%   24.7%
FTSE 250 securities       27.0%   23.1%
Paris market overall       22.8%   27.5%
CAC 40 securities       22.2%   28.6%
CAC Next20 securities       26.3%   27.9%
Frankfurt market overall       23.4%   28.6%
DAX 30 securities       23.8%   30.2%
MDAX securities       29.0%   30.2%
TecDAX securities       23.4%   25.8%
Amsterdam market overall       22.4%   26.3%
AEX securities       22.7%   27.3%
AMX securities       20.8%   20.2%
Brussels market overall       24.6%   25.8%
BEL 20 securities       23.3%   26.7%
Milan market overall       13.0%   14.8%
FTSE MIB securities       14.1%   16.0%
Zurich market overall       23.3%   21.0%
SMI securities       24.8%   22.7%
SMIM securities       23.2%   22.2%
Nordic market overall       23.7%   25.6%
Helsinki OMXH25 securities       27.6%   29.0%
Stockholm OMXS30 securities       24.5%   27.3%
Copenhagen OMXC20 securities       22.5%   23.4%
Oslo OBX securities       21.2%   23.4%
Vienna market overall       13.7%   21.1%
ATX securities       14.0%   22.1%
Lisbon market overall       18.9%   15.9%
PSI-20 securities       19.0%   16.0%
Dublin market overall       11.4%   17.0%
ISEQ 20 securities       11.4%   17.0%
Madrid market overall       20.6%   20.0%
IBEX 35 securities       21.3%   21.2%
Key Indices            
EUROSTOXX 50 securities       20.6%   25.6%
FTSE RIOB       8.4%   6.8%
       

About Bats Global Markets, Inc.

Bats Global Markets, Inc., is a leading global operator of exchanges and services for financial markets, dedicated to Making Markets Better. We are the second-largest stock exchange operator in the U.S., operate the largest stock exchange and trade reporting facility in Europe, and are the #1 market globally for ETF trading. We also operate two fast-growing U.S. options exchanges. In the global foreign exchange market, we operate Hotspot. ETF.com, a leading provider of ETF news, data and analysis, is a wholly-owned subsidiary. The company is headquartered in Kansas City with offices in New York, London, Chicago, San Francisco and Singapore. Visit bats.com and @BatsGlobal for more information.

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1 Based on Bats Europe market coverage, available at batstrading.co.uk
2 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).
3 Represent consolidated figures for BXE and CXE lit and dark books, unless otherwise noted.
4 BXE and CXE non-displayed order books.

Bats Global Markets, Inc.
Media:
Stacie Fleming, +1-913-815-7193
Kansas City
or
Hannah Randall, +44 207 012 8950
London
or
Randy Williams, +1-212-378-8522
New York
comms@bats.com
or
Investors:
Mark Marriott, +1-913-815-7132
Kansas City
ir@bats.com

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