Bats Global Market (BATS) Issues Update on Sept. 2016 Metrics; Notes Strong U.S. Options Performance

October 14, 2016 7:06 AM EDT
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Bats Global Markets, Inc. (BATS: BATS) reported September data and highlights, including its second-best month on record for its U.S. options business, with 11.7% market share.

Highlights for September include:

  • Announcing a transaction agreement with CBOE Holdings under which CBOE will acquire Bats to create one of the largest market operators around the globe.
  • Remaining the #1 U.S. market operator for ETF trading, executing 24.7% of all volume during the month. In addition, Bats has won 25% of all new U.S. ETF listings year-to-date vs only 9% for full-year 2015;
  • Maintaining its position as the second-largest U.S. Equities market operator with 20.9% market share;
  • Retaining its position as the largest European stock exchange with 22.7% market share and the largest trade reporting facility with €347.5 billion reported to BXTR for the month;
  • Reporting 15.3% market share in single-leg equity options trades for the month;
  • Recording more than $112 billion of notional value per day touched by the Bats markets in September, including trades reported to BXTR.

September 2016 Volume and Market Share Overview

U.S. Equities (Bats Exchanges – BZX, BYX, EDGA, EDGX)

September 2016

Bats Exchanges – Overall market share 20.9%
Bats Exchanges – Average daily matched volume (shares) 1.47 billion
Overall Industry – Average daily consolidated volume (shares) 7.07 billion
U.S. Equity Options (Bats Options – BZX Options + EDGX Options)
Bats Options – Overall market share 11.7%
Bats Options – Average daily matched volume (contracts) 1,947,236
Overall Industry – Avery daily consolidated volume (contracts) 16,655,012
Foreign Exchange (Bats Hotspot)
Total volume traded $621.8 billion
Average daily volume (ADV) $28.3 billion
European Equities (Bats Europe Equities )
Bats Europe – Overall European market share 22.7%
Bats Europe – Average daily notional value €9.4 billion

Pan-European Consolidated Volume1 – Average daily notional value

€41.6 billion
European Trade Reporting (BXTR)
BXTR – Total notional value reported €347.5 billion
BXTR – Average daily notional value reported €15.8 billion

___________________________________________

1 Based on Bats Europe market coverage, available at batstrading.co.uk

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

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

Sept 2016 Sept 2015
Bats Exchanges – Overall market share 20.9% 22.0%
Bats Exchanges – Average daily volume traded (shares) 1.47 billion 1.62 billion
Bats Exchanges – Average daily notional value traded $55.7 billion $60.3 billion
Bats Exchanges – Total notional value traded for month $1.17 trillion $1.27 trillion
Bats Exchanges market share – Tape A securities 19.0% 18.9%
Bats Exchanges market share – Tape B securities 24.3% 27.8%
Bats Exchanges market share – Tape C securities 21.8% 23.5%
Bats Exchanges market share in ETF trading 24.7% 28.1%

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

Sept 2016 Sept 2015
Bats Options – Overall market share 11.7% 11.0%
BZX Options – Market share 10.7% 11.0%
EDGX Options – Market share 1.0% N/A
Bats Options – Overall average daily volume (contracts) 1,947,236 1,823,907
BZX Options – Average daily volume 1,786,451 1,823,907
EDGX Options – Average daily volume 160,785 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 Sept 2016 Sept 2015
Total volume traded $621.8 billion $575.9 billion
Average daily volume (ADV) $28.3 billion $26.2 billion
Number of trading days 22 22
Hotspot Volume Percentage Breakdown (Timezone)
Europe 40.5% 41.7%
Americas 45.0% 42.6%
Asia 14.5% 15.7%
Top Five Currency Pairs by Volume Percentage
EUR/USD 22.5% 24.1%
USD/JPY 15.6% 18.5%
GBP/USD 10.6% 10.6%
AUD/USD 9.1% 9.0%
USD/CAD 8.7% 8.0%

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, 38.3% of all equity transactions in Europe (either traded on exchange or OTC) touched Bats’ systems in September.
  • A total of €305.8 million was traded in the Periodic Auctions book in September with Average Daily Volume totaling €13.9 million.
Sept 2016 Sept 2015
Bats Europe – Overall market share 22.7% 24.8%
Bats Europe – Average daily notional value traded €9.4 billion €12.4 billion
Displayed average daily notional value €8.3 billion €11.1 billion

Non-displayed4 average daily notional value

€1.1 billion €1.2 billion
Bats Europe – Total notional value traded €207.6 billion €272.1 billion
BXTR – Total notional value reported €347.5 billion €355.9 billion
BXTR – Average daily notional value reported €15.8 billion €16.2 billion

BATS INDICES: September Monthly Performance for Key Bats Indices

Additional information is available on the Bats Indices website.

Bats UK 100 1.6%
Bats UK 250 0.9%
Bats UK All Companies 1.5%

__________________________________________

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.

EUROPE: Bats Europe Equities & Market Share

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

Sept 2016 Sept 2015
London market overall 25.4% 27.3%
Bats UK 100 26.9% N/A
FTSE 100 securities 26.8% 28.9%
FTSE 250 securities 27.1% 25.8%
Paris market overall 21.8% 25.7%
CAC 40 securities 22.2% 26.5%
CAC Next20 securities 26.3% 24.6%
Frankfurt market overall 23.3% 27.8%
DAX 30 securities 23.8% 28.9%
MDAX securities 28.4% 29.2%
TecDAX securities 22.9% 24.5%
Amsterdam market overall 23.4% 24.1%
AEX securities 23.9% 24.6%
AMX securities 19.5% 20.6%
Brussels market overall 23.0% 26.6%
BEL 20 securities 20.7% 25.7%
Milan market overall 12.5% 15.0%
FTSE MIB securities 14.0% 15.7%
Zurich market overall 20.9% 23.6%
SMI securities 22.3% 25.5%
SMIM securities 22.3% 22.1%
Nordic market overall 25.0% 22.8%
Helsinki OMXH25 securities 27.0% 27.5%
Stockholm OMXS30 securities 26.7% 24.8%
Copenhagen OMXC20 securities 25.1% 22.9%
Oslo OBX securities 22.4% 20.1%
Vienna market overall 14.6% 17.3%
ATX securities 14.9% 17.7%
Lisbon market overall 22.6% 17.3%
PSI-20 securities 22.7% 17.4%
Dublin market overall 15.5% 9.7%
ISEQ 20 securities 15.5% 9.7%
Madrid market overall 24.7% 23.4%
IBEX 35 securities 25.6% 24.2%
Key Indices
EUROSTOXX 50 securities 21.5% 25.4%
FTSE RIOB 6.6% 11.0%


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