Bats Reports Strong Market Share Across All Markets in August
Bats Global Markets, Inc. (Bats: BATS), a leading global exchange operator and provider of market data and other financial markets services, today reported August data and highlights, including strong market share across all of its markets for the month.
Highlights for August include:
- Maintaining its position as the second-largest U.S. Equities market operator with 21.1% market share;
- Retaining its position as the largest European stock exchange with 23.4% market share and the largest trade reporting facility with €307.8 billion reported to BXTR for the month;
- Remaining the #1 U.S. market operator for ETF trading, executing 24.1% of all volume during the month. In addition, Bats has won 26% of all new U.S. ETF listings year-to-date vs only 9% for full-year 2015;
- Unveiling plans to launch Bats LIS, powered by BIDS Trading, a new block trading service for the European equity market;
- Announcing plans to acquire Javelin Swap Execution Facility, accelerating Bats' plans to offer the trading of non-deliverable forwards for the FX market;
- Announcing plans to launch the Bats Auction Mechanism (BAM), new functionality that provides price improvement opportunities for orders sent to EDGX Options;
- Working with Nasdaq and NYSE to strengthen U.S. equity markets through the harmonization of key functions;
- Boosting ETP market incentive plan for market makers who play pivotal role throughout lifecycle of ETPs;
- Recording more than $93 billion of notional value per day touched by the Bats markets in August, including trades reported to BXTR.
August 2016 Volume and Market Share Overview
|U.S. Equities (Bats Exchanges – BZX, BYX, EDGA, EDGX)||August 2016|
|Bats Exchanges – Overall market share||21.1%|
|Bats Exchanges – Average daily matched volume (shares)||1.29 billion|
|Overall Industry – Average daily consolidated volume (shares)||6.12 billion|
|U.S. Equity Options (Bats Options – BZX Options + EDGX Options)|
|Bats Options – Overall market share||10.7%|
|Bats Options – Average daily matched volume (contracts)||1,467,487|
|Overall Industry – Avery daily consolidated volume (contracts)||13,772,381|
|Foreign Exchange (Bats Hotspot)|
|Total volume traded||$520.5 billion|
|Average daily volume (ADV)||$22.6 billion|
|European Equities (Bats Europe Equities )|
|Bats Europe – Overall European market share||23.4%|
|Bats Europe – Average daily notional value||€8.1 billion|
Pan-European Consolidated Volume1 – Average daily notional value
|European Trade Reporting (BXTR)|
|BXTR – Total notional value reported||€307.8 billion|
|BXTR – Average daily notional value reported||€13.4 billion|
Highlights for the month of August are outlined below by business line.
U.S. EQUITIES: Bats Exchanges (BYX, BZX, EDGA, EDGX) Volume & Market Share
- During August, the BZX Exchange ranked 1st or 2nd in quality of trading in 44.6% 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 43% of the top 100 exchange-traded products in August.
|August 2016||August 2015|
|Bats Exchanges – Overall market share||21.1%||22.0%|
|Bats Exchanges – Average daily volume traded (shares)||1.29 billion||1.74 billion|
|Bats Exchanges – Average daily notional value traded||$46.3 billion||$67.9 billion|
|Bats Exchanges – Total notional value traded for month||$1.06 trillion||$1.43 trillion|
|Bats Exchanges market share – Tape A securities||19.6%||19.2%|
|Bats Exchanges market share – Tape B securities||23.9%||26.9%|
|Bats Exchanges market share – Tape C securities||22.0%||23.3%|
|Bats Exchanges market share in ETF trading||24.1%||27.1%|
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
|August 2016||August 2015|
|Bats Options – Overall market share||10.7%||10.9%|
|BZX Options – Market share||9.7%||10.9%|
|EDGX Options – Market share||0.9%||N/A|
|Bats Options – Overall average daily volume (contracts)||1,467,487||2,178,052|
|BZX Options – Average daily volume||1,341,880||2,178,052|
|EDGX Options – Average daily volume||125,607||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
|Hotspot Market Statistics||August 2016||August 2015|
|Total volume traded||$520.5 billion||$594.3 billion|
|Average daily volume (ADV)||$22.6 billion||$28.3 billion|
|Number of trading days||23||21|
|Hotspot Volume Percentage Breakdown|
|Top Five Currency Pairs by Volume Percentage|
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, 39.0% of all equity transactions in Europe (either traded on exchange or OTC) touched Bats' systems in August.
- A total of €93 million was traded in the Periodic Auctions book in August, including hundreds of trades in excess of €50,000, as well as some trades in excess of €100,000.
|August 2016||August 2015|
|Bats Europe – Overall market share||23.4%||25.0%|
|Bats Europe – Average daily notional value traded||€8.05 billion||€12.9 billion|
|Displayed average daily notional value||€7.2 billion||€11.7 billion|
Non-displayed4 average daily notional value
|€840.8 million||€1.2 billion|
|Bats Europe – Total notional value traded||€185.2 billion||€271.5 billion|
|BXTR – Total notional value reported||€307.8 billion||€341.0 billion|
|BXTR – Average daily notional value reported||€13.4 billion||€16.2 billion|
BATS INDICES: August Monthly Performance for Key Bats Indices
Additional information is available on the Bats Indices website.
|Bats UK 100||0.9%|
|Bats UK 250||2.9%|
|Bats UK All Companies||1.2%|
EUROPE: Bats Europe Equities & Market Share
For additional European Equities market volume information: Bats Europe Market Volume Summary
|August 2016||August 2015|
|London market overall||26.1%||25.5%|
|Bats UK 100||27.8%||N/A|
|FTSE 100 securities||27.7%||27.0%|
|FTSE 250 securities||27.4%||24.1%|
|Paris market overall||23.0%||26.5%|
|CAC 40 securities||23.3%||27.1%|
|CAC Next20 securities||26.7%||27.6%|
|Frankfurt market overall||24.7%||29.1%|
|DAX 30 securities||25.4%||30.8%|
|Amsterdam market overall||23.4%||25.4%|
|Brussels market overall||23.6%||26.1%|
|BEL 20 securities||21.7%||25.4%|
|Milan market overall||12.6%||16.1%|
|FTSE MIB securities||14.0%||17.3%|
|Zurich market overall||22.2%||23.5%|
|Nordic market overall||24.3%||22.5%|
|Helsinki OMXH25 securities||27.7%||28.3%|
|Stockholm OMXS30 securities||26.0%||24.3%|
|Copenhagen OMXC20 securities||23.5%||22.4%|
|Oslo OBX securities||22.3%||19.1%|
|Vienna market overall||15.4%||17.3%|
|Lisbon market overall||21.4%||18.1%|
|Dublin market overall||19.2%||13.7%|
|ISEQ 20 securities||19.2%||13.8%|
|Madrid market overall||23.7%||23.6%|
|IBEX 35 securities||24.6%||24.4%|
|EUROSTOXX 50 securities||21.8%||26.8%|
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, Singapore and Quito, Ecuador. Visit bats.com and @BatsGlobal for more information.
Forward Looking Statements
This press release includes certain disclosures which contain "forward-looking statements." You can identify forward-looking statements because they contain words such as "believes" and "expects." Forward-looking statements are based on Bats' current expectations and assumptions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that may differ materially from those contemplated by the forward-looking statements, which are neither statements of historical fact nor guarantees or assurances of future performance. Important factors that could cause actual results to differ materially from those in the forward-looking statements are set forth in our filings with the SEC, including our final prospectus filed pursuant to Rule 424(b) and our quarterly reports on Form 10-Q, under the caption "Risk Factors."
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.