KANSAS CITY, Mo. & NEW YORK & LONDON--(BUSINESS WIRE)--Bats Global Markets, Inc. (Bats: BATS) today reported January volume and highlights, which included average daily notional value of $29.6 billion traded on Hotspot, its global spot FX trading platform, the highest ADNV in 11 months.
Additionally, average daily notional value traded on Hotspot’s London matching engine was $2.5 billion in January, equating to 8.5% of overall value traded on the platform, a new record.
Additional January 2017 Highlights:
- The acquisition of Bats by CBOE Holdings, Inc. continued to move toward closing with Bats stockholders voting to adopt the merger agreement. The transaction, which is expected to close by the end of the first quarter of 2017, remains subject to other customary closing conditions.
- Bats welcomed 13 new ETF listings to the Bats ETF Marketplace in January including eight transfers from Deutsche Bank and five new listings from new issuer QuantX. There are now 149 ETFs listed on Bats’ U.S. market from 25 issuers.
- Bats maintained its position as the second-largest U.S. equities market operator with 19.3% market share, and maintained a strong position in U.S. ETF trading with 21.6% market share
- Bats retained its position as the largest European stock exchange with 21.4% market share and the largest trade reporting facility with €357.7 billion reported to the BXTR European trade reporting facility for the month.
- Bats reported 11.5% U.S. options market share, up from 10.1% a year prior, with strong single-leg equity options market share of 17.9%.
- Recorded more than $105.9 billion of notional value per day touched by the Bats markets in January, including trades reported to the BXTR.
January 2017 Volume and Market Share Overview
|U.S. Equities (Bats Exchanges – BZX, BYX, EDGA, EDGX)||January 2017|
|Bats Exchanges – Overall market share||19.3%|
|Bats Exchanges – Average daily matched volume (shares)||1.30 billion|
|Overall Industry – Average daily consolidated volume (shares)||6.75 billion|
|U.S. Equity Options (Bats Options – BZX Options + EDGX Options)|
|Bats Options – Overall market share||11.5%|
|Bats Options – Average daily matched volume (contracts)||1,842,360|
|Overall Industry – Average daily consolidated volume (contracts)||16,093,545|
|Global FX (Bats Hotspot)|
|Total notional value traded||$650.1 billion|
|Average daily notional value (ADNV)||$29.6 billion|
|European Equities (Bats Europe Equities )|
|Bats Europe – Overall European market share||21.4%|
|Bats Europe – Average daily notional value||€9.1 billion|
Pan-European Consolidated Volume1 – Average daily notional value
|European Trade Reporting (BXTR)|
|BXTR – Total notional value reported||€357.7 billion|
|BXTR – Average daily notional value reported||€16.3 billion|
U.S. EQUITIES: Bats Exchanges (BYX, BZX, EDGA, EDGX) Volume & Market Share
|January 2017||January 2016|
|Bats Exchanges – Overall market share||19.3%||21.4%|
|Bats Exchanges – Average daily volume matched (shares)||1.30 billion||1.99 billion|
|Bats Exchanges – Average daily notional value matched||$49.1 billion||$73.4 billion|
|Bats Exchanges – Total notional value traded for month||$981.5 billion||$1.40 trillion|
|Bats Exchanges market share – Tape A securities||17.8%||18.5%|
|Bats Exchanges market share – Tape B securities||21.4%||26.4%|
|Bats Exchanges market share – Tape C securities||20.5%||23.0%|
|Bats Exchanges market share in ETF trading||21.6%||26.9%|
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
|January 2017||January 2016|
|Bats Options – Overall market share||11.5%||10.1%|
|BZX Options – Market share||10.4%||9.8%|
|EDGX Options – Market share||1.1%||0.3%|
|Bats Options – Overall average daily volume (contracts)||1,842,360||1,904,383|
|BZX Options – Average daily volume||1,668,375||1,843,283|
|EDGX Options – Average daily volume||173,985||61,100|
For additional U.S. Options market volume information: Bats U.S. Options Market Volume Summary
GLOBAL FX: Hotspot Highlights, Notional Value & Market Share Statistics2
|Hotspot Market Statistics||January 2017||January 2016|
|Total notional value traded||$650.1 billion||$613.7 billion|
|Average daily notional value (ADNV)||$29.6 billion||$30.7 billion|
|Number of trading days||22||20|
|Hotspot Notional Value % Breakdown (Timezone)|
|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, 37.5% of all equity transactions in Europe (either traded on exchange or OTC) touched Bats’ systems in January.
|January 2017||January 2016|
|Bats Europe – Overall market share||21.4%||24.9%|
|Bats Europe – Average daily notional value traded||€9.1 billion||€14.0 billion|
|Displayed average daily notional value||€7.9 billion||€26.6 billion|
Non-displayed4 average daily notional value
|€1.2 billion||€1.5 billion|
|Bats Europe – Total notional value traded||€200.9 billion||€280.6 billion|
|BXTR – Total notional value reported||€357.7 billion||€381.6 billion|
|BXTR – Average daily notional value reported||€16.3 billion||€19.1 billion|
BATS INDICES: January Monthly Performance for Key Bats Indices
Additional information is available on the Bats Indices website.
|Bats UK 100||Unchanged|
|Bats UK 250||+0.5%|
|Bats UK All Companies||+0.1%|
EUROPE: Bats Europe Equities & Market Share
For additional European Equities market volume information: Bats Europe Market Volume Summary
|January 2017||January 2016|
|London market overall||24.2%||28.0%|
|FTSE 100 securities||26.1%||29.7%|
|FTSE 250 securities||24.5%||26.5%|
|Paris market overall||21.2%||23.7%|
|CAC 40 securities||21.3%||23.8%|
|CAC Next20 securities||26.1%||27.3%|
|Frankfurt market overall||21.1%||26.1%|
|DAX 30 securities||21.2%||27.6%|
|Amsterdam market overall||22.1%||24.7%|
|Brussels market overall||20.6%||25.2%|
|BEL 20 securities||20.7%||24.2%|
|Milan market overall||13.3%||17.5%|
|FTSE MIB securities||14.8%||18.3%|
|Zurich market overall||20.5%||25.8%|
|Nordic market overall||23.2%||25.2%|
|Helsinki OMXH25 securities||26.1%||31.1%|
|Stockholm OMXS30 securities||24.5%||26.7%|
|Copenhagen OMXC20 securities||22.6%||23.4%|
|Oslo OBX securities||22.6%||22.9%|
|Vienna market overall||17.2%||14.5%|
|Lisbon market overall||22.1%||19.4%|
|Dublin market overall||19.8%||16.0 %|
|ISEQ 20 securities||19.8%||16.3%|
|Madrid market overall||23.2%||22.7%|
|IBEX 35 securities||24.4%||23.6%|
|EUROSTOXX 50 securities||20.9%||23.6%|
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, Singapore and Quito, Ecuador. Visit bats.com and @BatsGlobal for more information.
Cautionary Statements Regarding Forward-Looking Information
This press release contains certain statements regarding intentions, beliefs and expectations or predictions for the future of Bats Global Markets, Inc. (“Bats”) and CBOE Holdings, Inc. (“CBOE”), which are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Words such as “believes,” “expects,” “anticipates,” “estimates,” “intends,” “plans,” “seeks,” “projects” or words of similar meaning, or future or conditional verbs, such as “will,” “should,” “would,” “could,” “may” or variations of such words and similar expressions are intended to identify such forward-looking statements, which are not statements of historical fact or guarantees or assurances of future performance. However, the absence of these words or similar expressions does not mean that a statement is not forward-looking.
Actual results could differ materially from those projected or forecast in the forward-looking statements. The factors that could cause actual results to differ materially include, without limitation, the risks, uncertainties or assumptions described in the Risk Factors section of the definitive joint proxy statement/prospectus dated December 9, 2016 that Bats filed with the Securities Exchange Commission (“SEC”) on December 12, 2016.
Neither Bats nor CBOE undertakes, and each of them expressly disclaims, any duty to update any forward-looking statement whether as a result of new information, future events or otherwise, except as required by law. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof.
Additional Information Regarding the Transaction and Where to Find It
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities. This press release is being made in respect of the proposed merger transaction involving Bats and CBOE, in connection with which Bats filed with the SEC on December 12, 2016 a definitive joint proxy statement/prospectus dated December 9, 2016, and each of Bats and CBOE may be filing with the SEC other documents regarding the proposed transaction. Bats and CBOE commenced mailing of the definitive joint proxy statement/prospectus to Bats stockholders and CBOE stockholders on December 12, 2016. BEFORE MAKING ANY INVESTMENT DECISION, INVESTORS AND SECURITY HOLDERS OF BATS AND/OR CBOE ARE URGED TO READ THE DEFINITIVE JOINT PROXY STATEMENT/PROSPECTUS REGARDING THE PROPOSED TRANSACTION AND ANY OTHER RELEVANT DOCUMENTS FILED OR TO BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. Investors and security holders may obtain free copies of the definitive joint proxy statement/prospectus, any amendments or supplements thereto and other documents containing important information about each of Bats and CBOE, as such documents are filed with the SEC, through the website maintained by the SEC at www.sec.gov. Copies of the documents filed with the SEC by Bats will be available free of charge on Bats’ website at http://www.bats.com/investor_relations/financials/ under the heading “SEC Filings” or by contacting Bats’ Investor Relations Department at (913) 815-7132. Copies of the documents filed with the SEC by CBOE will be available free of charge on CBOE’s website at http://ir.cboe.com/financial-information/sec-filings.aspx under the heading “SEC Filings” or by contacting CBOE’s Investor Relations Department at (312) 786-7136.
Based on Bats Europe market coverage, available at bats.com
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).
Represent consolidated figures for BXE and CXE lit and dark books, unless otherwise noted.
BXE and CXE non-displayed order books.