Bats Largely Retains Market Share in October, European Business Rises MoM

Across its European business, Bats saw a strong performance in volumes during October.

BATS Global Markets (Bats) has reported its latest monthly volumes and market share for October 2016, which once again held onto its spot as one of the largest exchanges in the US market as well as in exchange-traded-funds (ETFs). The group did see its market share fall slightly MoM however, per a recent Bats statement.

For yet another consecutive month, Bats’ business saw a strong performance during October 2016, which was indicative of its overall market share – the exchange registered a total market share of 20.3%, falling -2.9% MoM from 20.9% MoM in September 2016, making it the second largest US equities market operator. In terms of ETFs, Bats executed a total of 25.0% of trades, making it the largest US market operator for this instrument in October 2016, up from 24.7% in the month prior.

Join the iFX EXPO Asia and discover your gateway to the Asian Markets

Furthermore, the exchange disclosed its trading figures in October 2016, with its average daily matched volume coming in at 1.29 billion shares, compared with 1.47 billion shares in September 2016, or -12.2% MoM, largely dictated by lower volatility relative MoM. This performance was also a near universal trend at other exchanges, which consequently have incurred similar declines in October.

Suggested articles

What to Look for in a Liquidity ProviderGo to article >>

Delving further into the figures, Bats also saw an average daily matched volume of 1,706,297 contracts across its US equities options during October 2016, retreating from 1,947,236 in September 2016, or -12.4% MoM.

European Snapshot

Looking over to its European business, Bats Europe rose to a 23.5% market share in October 2016, up from 22.7% in September 2016, en route to the distinction of Europe’s largest stock exchange, with an average daily notional value reported registering $10.7 billion (€10.1 billion) vs. $9.9 billion (€9.4 billion) or 7.4% MoM. This trend was also extended to Bats BTXR, which executed a total of $376.4 billion (€355.7 billion) of notional volume in October 2016, compared to $367.9 billion (€347.5 billion) in September 2016, or 2.4% MoM.

Earlier this month, Hotspot, Bats’ institutional spot foreign exchange market, saw its figures decline in terms of average daily volumes, reporting $25.2 billion daily in October 2016, falling -13.7% MoM from $28.3 billion daily in September 2016. Looking at the monthly total number, the figure stood at $531.2 billion in October 2016, which is lower by -14.5% when compared to $621.8 billion in September 2016.

  • EUR/USD: 22.5%
  • USD/JPY: 15.6%
  • GBP/USD: 10.6%
  • AUD/USD: 9.1%
  • USD/CAD: 8.7%
Got a news tip? Let Us Know