BATS Global Markets Reports Lower US and Europe Equities Market Share

The overall market share at BATS was virtually unchanged MoM.

BATS Global Markets (Bats) has reported its latest monthly volumes and market share, which showed the second-best month on record for its US options business, although it registered a slight drop in its market share in US and Europe equities during September 2016.

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The overall market share at BATS was virtually unchanged MoM as US Equities on BATS exchanges reported a 20.9% market share in September 2016, relative to 21.1% back in August 2016 – this does however indicate a slight decrease.

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In addition, the exchange again saw an active month in September 2016, with its average daily matched volume coming in at 1.47 billion shares – this justified a 13.95% MoM growth from 1.29 billion shares in August 2016. US Equities options, including BATS Options, also showed an uptick in its average daily matched volume, with 16,655,012 contracts in September 2016, climbing 20.9% MoM from 13,772,381 contracts in August 2016.

Looking over to its European business, BATS Europe dropped to a 22.7% market share in September 2016, down from 23.4% in the prior month. However, BATS did manage to retain its position as the largest European stock exchange.

In terms of BATS BTXR, the business segment surged in September 2016, with an average daily notional value reported showing $10.3 billion (€9.4 billion), compared to $8.9 billion (€8.05 billion) in August 2016, up 15.73% MoM. Overall, BATS BTXR executed a total of $383.3 billion (€347.5 billion) of notional volume in September 2016, edging higher by 13.1% Mom from $339.5 billion (€307.8 billion) in August 2016.

Earlier this month, Hotspot, BATS’ institutional spot foreign exchange (FX) market, marked an impressive rebound in absolute terms in September, with the trading volume increasing by about 19.5 percent month over month from $520.5 billion to $621.8 billion – a growth of over $100 billion in nominal terms. Looking at the year-on-year comparison, the figure is still impressive, up by 8 per cent from September 2015’s $575.9 billion.

When comparing the average daily volumes (ADV) metrics the improvement is even more pronounced over August, marking just over 25 per cent from $22.6 billion to $28.3 billion daily. This is despite the fact that Hotspot numbers are typically less volatile when compared to its peers.

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