BATS Reports Record U.S. Options Market Share in July; Equities Market Share Remains Strong in U.S. and Europe

Remains on Track to Launch Hotspot London Matching Engine in September,
Second U.S. Options Market in November

KANSAS CITY, Mo. & NEW YORK & LONDON--()--BATS Global Markets (BATS) today reported July data and highlights including record market share of 10.8% for its U.S. options business, surpassing the previous record of 9.9% set in April 2015.

In U.S. options, BATS set a one-day record of 2.47 million contracts traded on July 24 and also set a one-day market share record of 11.8% on July 21. In July, BATS Options recorded eight of its top ten days on record in terms of market share.

In U.S. equities, BATS reported market share of 21.0% in July, up from 20.3% one year ago. Average daily matched volume on the BATS Exchanges was 1.41 billion shares, up from 1.16 billion shares one year ago. BATS also remained the #1 U.S. market for exchange-traded fund (ETF) trading in July, executing 25.9% of all ETF volume.

In Europe, BATS Chi-X Europe’s market share rose year-on-year in 12 of the 15 markets in which the exchange offers trading, with pan-European market share of 23.4%. In Europe, BXTR, the company’s trade reporting facility, also retained the #1 spot, with €401.1 billion reported, an average of €18.2 billion per trading day.

Hotspot, BATS’ institutional spot foreign exchange market, posted average daily volume of $23.5 billion in July vs. $24.0 billion one year ago. Total volume traded on Hotspot in July was $540.7 billion (23 trading days) vs. $551.6 billion one year ago (23 trading days).

In all, the BATS markets executed $110.5 billion of notional volume per day in July. BATS was the largest equities market operator globally handling more than $1,490.5 billion.

 

 

July 2015 Volume and Market Share Overview

   
U.S. Equities (BATS Exchanges – BZX, BYX, EDGA, EDGX)   July 2015
Overall Industry – Average Daily Consolidated Volume   6.74 billion shares
BATS Exchanges – Matched Market Share   21.0%
BATS Exchanges – Average Daily Matched Volume   1.41 billion shares
U.S. Equity Options (BATS Options)    
BATS Options (BZX Options) – Matched Market Share   10.8%
BATS Options (BZX Options) – Average Daily Matched Volume   1,829,651 contracts
European Equities (BATS Chi-X Europe)    
Pan-European Consolidated Volume1 – Average Daily Notional Value   €47.7 billion
BATS Chi-X Europe – Overall European Market Share   23.4%
BATS Chi-X Europe – Total Notional Value Traded   €256.4 billion
BATS Chi-X Europe – Average Daily Notional Value   €11.1 billion

European Trade Reporting (BXTR)

   
BXTR – Total Notional Value Reported  

€401.1 billion

BXTR – Average Daily Notional Value Reported   €18.2 billion
Foreign Exchange (Hotspot)    
Total Volume Traded (U.S. Dollar)   $540.7 billion
Average Daily Volume (ADV)   $23.5 billion

1 Based on BATS Chi-X Europe market coverage, available at www.batstrading.co.uk.

Additional monthly highlights are outlined below by business line.

U.S. Equities and Options – Highlights, Volume and Market Share Statistics

  • BATS remains on track to launch its second U.S. options market, EDGX Options, on November 2, 2015, pending SEC approval.
  • During July, the BZX Exchange ranked 1st or 2nd in quality of trading in 62% 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 61 of the top 100 exchange-traded products in July.
  • The five most actively-traded options classes on BZX Options during July were the Standard & Poor’s Depositary Receipt ETF Trust (SPY), Apple Inc. (AAPL), Facebook Inc. (FB, iShares Russell 2000 Index ETF (IWM), and PowerShares QQQ Trust, Series 1 ETF (QQQ).
 
U.S. EQUITIES: BATS Exchanges (BYX, BZX, EDGA, EDGX) Volume and Market Share
    July 2015   July 2014
BATS Exchanges percentage of overall U.S. equities market share   21.0%   20.3%
Average daily volume (ADV) traded on BATS Exchanges   1.41 billion shares   1.16 billion shares
Total industry volume   6.74 billion shares   5.71 billion shares
Total notional value traded on BATS Exchanges   $1.22 trillion   $1.03 trillion
Average daily notional value traded on BATS Exchanges   $55.5 billion   $46.8 billion
BATS overall market share – Tape A securities   18.5%   18.2%
BATS overall market share – Tape B securities   26.0%   25.3%
BATS overall market share – Tape C securities   22.0%   21.5%
BATS overall market share in ETF trading   25.9%   26.2%2

BATS 1000 Index monthly performance and close

 

+0.6%
22,817.13

 

+2.2%
21,607.61

2 ETF data is sequential

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

 
U.S. OPTIONS: BATS Options Volume and Market Share
    July 2015   July 2014
Average daily matched volume (contracts)   1,829,651   651,155
Average daily matched volume (market share)   10.8%   4.1%
 

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

European Equities – BATS Chi-X Europe Highlights, Volume and Market Share Statistics

 
BATS Chi-X Europe Market Share by Market 3

(In millions, except percentages)

    July 2015   July 2014
BATS Chi-X Europe overall market share   23.4%   21.5%
BATS Chi-X Europe Average daily notional value   €11,147.4   €7,537.0
Displayed average daily notional value   €9,863.3   €6,766.5
Non-displayed4 average daily notional value   €1,284.1   €770.5
London market overall   22.8%   23.4%
FTSE 100 securities   23.8%   25.3%
FTSE 250 securities   23.9%   21.0%
Paris market overall   26.5%   23.1%
CAC 40 securities   27.1%   23.6%
CAC Next20 securities   27.6%   24.7%
Frankfurt market overall   27.1%   24.1%
DAX 30 securities   28.4%   25.8%
MDAX securities   29.8%   22.7%
TecDAX securities   24.1%   19.5%
Amsterdam market overall   24.4%   21.3%
AEX securities   25.0%   22.0%
AMX securities   20.6%   19.6%
Brussels market overall   23.8%   22.7%
BEL 20 securities   24.0%   22.7%
Milan market overall   15.9%   15.4%
FTSE MIB securities   16.9%   16.2%
Zurich market overall   21.1%   19.9%
SMI securities   22.7%   21.7%
SMIM securities   22.0%   19.9%
Nordic market overall   24.0%   23.4%
Helsinki OMXH25 securities   30.2%   25.1%
Stockholm OMXS30 securities   25.4%   25.2%
Copenhagen OMXC20 securities   21.2%   21.0%
Oslo OBX securities   21.3%   22.4%
Vienna market overall   18.3%   18.8%
ATX securities   18.9%   19.6%
Lisbon market overall   17.1%   8.3%
PSI-20 securities   17.2%   8.8%
Dublin market overall   15.1%   9.2%
ISEQ 20 securities   15.1%   9.3%
Madrid market overall   20.9%   14.7%
IBEX 35 securities   21.9%   15.5%

Key Indices

       
EUROSTOXX 50 securities   25.0%   21.9%
FTSE RIOB   8.0%   9.5%

3 Represent consolidated figures for BXE and CXE lit and dark books, unless otherwise noted.
4 BXE and CXE non-displayed order books.

For additional European equities market volume information: BATS Pan-European Market Volume Summary

Foreign Exchange – Hotspot Highlights, Volume and Market Share Statistics5

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

  • Hotspot remains on schedule to launch its new London matching engine in the Equinix LD4 data center on Monday, September 14, 2015. Hotspot will offer free trading on the London matching engine through the end of this year.
 
Hotspot Market Statistics
    July 2015   July 2014
Total Volume Traded (U.S. Dollar)   $540.7 billion   $551.6 billion
Average Daily Volume (ADV)   $23.5 billion   $24.0 billion
Number of Trading Days   23   23
 
 
Hotspot Volume Percentage Breakdown
    July 2015   July 2014
Europe   44.5%   45.6%
Americas   41.7%   41.2%
Asia   13.8%   13.2%
 
 
Top Five currency pairs in July by volume percentage
Currency Pair   Percentage
EUR/USD   24.8%
USD/JPY   14.8%
GBP/USD   10.6%
AUD/USD   9.2%
USD/CAD   8.3%

5 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).

About BATS Global Markets, Inc.

BATS Global Markets, Inc., a leading global operator of exchanges and services for financial markets, is committed to Making Markets Better for traders, investors and issuers. In Europe, BATS operates the largest pan-European equities exchange, offering trading and listing services across 15 major European markets, as well as BXTR, the continent’s largest trade reporting facility. In the U.S., BATS operates four stock exchanges – BZX, BYX, EDGX and EDGA – and regularly ranks as the top market for ETF and retail-driven liquidity. The company is a listing venue for ETFs and other structured products, also operates a U.S. equity options market, BATS BZX Options, and is launching BATS EDGX Options later in 2015. Globally, BATS serves the foreign exchange (FX) market, the world’s largest asset class, with Hotspot, a leading institutional spot foreign exchange market. With its world-class technology and relentless customer focus, BATS strives to bring efficiency, transparency and fairness to market participants. The company is headquartered in Kansas City with offices in New York, London, Chicago and Singapore. Further information on BATS can be found at www.bats.com and by following us on Twitter @BATSGlobal.

Contacts

BATS Global Markets
Randy Williams (New York), +1-212-378-8522
comms@bats.com
or
Stacie Fleming (Kansas City), +1-913-815-7193
comms@bats.com
or
Hannah Randall (London), +44-207-012-8950
comms@bats.com

Contacts

BATS Global Markets
Randy Williams (New York), +1-212-378-8522
comms@bats.com
or
Stacie Fleming (Kansas City), +1-913-815-7193
comms@bats.com
or
Hannah Randall (London), +44-207-012-8950
comms@bats.com