Bats Global Markets Reports Record U.S. Options Market Share in April
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
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 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|
|Top Five Currency Pairs by Volume Percentage|
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%|
|Amsterdam market overall||22.4%||26.3%|
|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%|
|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%|
|Lisbon market overall||18.9%||15.9%|
|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%|
|EUROSTOXX 50 securities||20.6%||25.6%|
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.
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.