Market Overview

Bats Continues ETF Growth, Adding 13 Listings in May, Remaining #1 in ETF Market Share

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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 May data and highlights, including material expansions to its U.S. listing business.

During the month, Bats welcomed 13 exchange-traded fund (ETF) listings to the Bats ETF Marketplace, and announced Deutsche Asset Management as the third ETF issuer to switch primary listings to the Bats ETF Marketplace. As of June 10, the Bats market now has 11 US issuers with 95 ETFs listed.

Additionally, the exchange reported 11.4% U.S. Options market share, up from 9.7% a year ago, marking the second-best month in company history.

In addition, on May 20, it was announced Bats would be included in the Wilshire 5000 Total Market Index.

Additional Bats highlights for May include:

  • Remaining the #1 U.S. market operator for ETF trading, executing 24.5% of all May volume, and maintaining its position as the second-largest U.S. Equities market operator with 20.5% market share.
  • Retaining its position as the largest European stock exchange with 23.4% market share and the largest trade reporting facility with €371.8 billion reported to BXTR for the month.
  • Recording average daily volume of $23.4 billion for Hotspot, the company's institutional spot foreign exchange market.
  • Recording more than $102 billion of notional value per day touched by the Bats markets in May, including trades reported to BXTR.

May 2016 Volume and Market Share Overview

       
U.S. Equities (Bats Exchanges – BZX, BYX, EDGA, EDGX)     May 2016
Bats Exchanges – Overall market share     20.5%
Bats Exchanges – Average daily matched volume (shares)     1.44 billion
Overall Industry – Average daily consolidated volume (shares)     7.03 billion
U.S. Equity Options (Bats Options – BZX Options + EDGX Options)      
Bats Options – Overall market share     11.4%
Bats Options – Average daily matched volume (contracts)     1,659,673
Overall Industry – Avery daily consolidated volume (contracts)     14.5 billion
European Equities (Bats Europe Equities )      

Bats Europe – Overall European market share

    23.4%
Bats Europe – Average daily notional value     €9.4 billion

Pan-European Consolidated Volume 1 – Average daily notional value

    €40.0 billion

European Trade Reporting (BXTR)

     
BXTR – Total notional value reported     €371.8 billion
BXTR – Average daily notional value reported     €16.9 billion
Foreign Exchange (Hotspot)      
Total volume traded (U.S. Dollar)     $514.2 billion
Average daily volume (ADV)     $23.4 billion
 

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

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

  • During May, the BZX Exchange ranked 1st or 2nd in quality of trading in 229 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 68% of the top 50 exchange-traded products in May.
           
    May 2016     May 2015
Bats Exchanges – Overall market share   20.5%     21.2%
Bats Exchanges – Average daily volume traded (shares)   1.44 billion     1.31 billion
Bats Exchanges – Average daily notional value traded   $49.1 billion     $51.9 billion
Bats Exchanges – Total notional value traded for month   $1.03 trillion     $1.04 trillion
Bats Exchanges market share – Tape A securities   18.7%     18.8%
Bats Exchanges market share – Tape B securities   24.0%     25.9%
Bats Exchanges market share – Tape C securities   21.5%     22.4%
Bats Exchanges market share in ETF trading   24.5%     26.1%
     

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

           
    May 2016     May 2015
Bats Options – Overall market share   11.4%     9.7%
BZX Options – Market share   10.6%     9.7%
EDGX Options – Market share   0.8%     N/A
Bats Options – Overall average daily volume (contracts)   1,659,671     1,447,055
BZX Options – Average daily volume   1,533,985     1,447,055
EDGX Options – Average daily volume   125,686     N/A
     

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

FOREIGN EXCHANGE: Hotspot Highlights, Volume & Market Share Statistics2

  • Average daily volume traded on Hotspot's London-area matching engine was $827 million, equating to 3.5% of overall volume available on the platform, a new record.
           
Hotspot Market Statistics   May 2016     May 2015
Total volume traded (U.S. Dollar)   $514.2 billion     $561.9 billion
Average daily volume (ADV)   $23.4 billion     $26.8 billion
Number of trading days   22     21
Hotspot Volume Percentage Breakdown          
Europe   42.4%     45.2%
Americas   41.5%     40.2%
Asia   16.0%     14.6%
Top Five Currency Pairs by Volume Percentage          
EUR/USD   24.1%     30.1%
USD/JPY   14.6%     15.7%
GBP/USD   11.5%     12.1%
AUD/USD   8.6%     8.6%
USD/CAD   8.3%     6.3%
     

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

EUROPEAN EQUITIES: Bats Europe + BXTR Volume & Market Share3

  • According to Bats statistics on market size, 40.0% of all equity transactions in Europe (either traded on exchange or OTC) touched Bats' systems in May.
           
    May 2016     May 2015
Bats Europe – Overall market share   23.4%     24.4%
Bats Europe – Average daily notional value traded   €9.4 billion     € 11.9 billion
Displayed average daily notional value   €8.3 billion     € 10.6 billion

Non-displayed4 average daily notional value

  €1.1 billion     € 1.3 billion
Bats Europe – Total notional value traded   €206.2 billion     €250.4 billion
BXTR – Total notional value reported   €371.8 billion     €480.2 billion
BXTR – Average daily notional value reported   €16.9 billion     €22.9 billion
     

EUROPE: Bats Europe Equities & Market Share

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

           
    May 2016     May 2015
London market overall   26.3%     23.7%
FTSE 100 securities   28.1%     24.8%
FTSE 250 securities   25.8%     24.0%
Paris market overall   23.5%     27.8%
CAC 40 securities   23.8%     28.6%
CAC Next20 securities   26.1%     29.2%
Frankfurt market overall   25.1%     28.2%
DAX 30 securities   25.9%     23.5%
MDAX securities   29.0%     23.5%
TecDAX securities   23.5%     23.5%
Amsterdam market overall   23.8%     26.3%
AEX securities   24.3%     27.3%
AMX securities   20.5%     20.7%
Brussels market overall   22.9%     22.9%
BEL 20 securities   22.9%     22.9%
Milan market overall   13.3%     15.0%
FTSE MIB securities   14.6%     15.9%
Zurich market overall   23.6%     21.5%
SMI securities   25.3%     22.9%
SMIM securities   22.4%     22.9%
Nordic market overall   22.9%     26.7%
Helsinki OMXH25 securities   26.1%     32.6%
Stockholm OMXS30 securities   24.5%     28.8%
Copenhagen OMXC20 securities   21.8%     24.7%
Oslo OBX securities   21.0%     23.4%
Vienna market overall   12.7%     20.1%
ATX securities   13.0%     20.9%
Lisbon market overall   18.1%     18.1%
PSI-20 securities   18.1%     18.1%
Dublin market overall   13.0%     13.0%
ISEQ 20 securities   13.2%     13.2%
Madrid market overall   23.6%     22.1%
IBEX 35 securities   24.5%     23.5%
Key Indices          
EUROSTOXX 50 securities   22.2%     25.3%
FTSE RIOB   8.1%     8.7%
     

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 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
Hannah Randall
London
+44.207.012.8950
or
Stacie Fleming
London
+44.207.012.8950
or
Randy Williams
New York
+1.212.378.8522
comms@bats.com
or
INVESTORS
Mark Marriott
Kansas City
+1.913.815.7132
ir@bats.com


















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