BATS Retains Strong Market Share Across US, Europe in February

BATS saw decreasing volumes across both its US and European equities trading, despite still securing high market share.

BATS Global Markets (BATS) has disclosed its volumes for the month ending February 2015, which incurred a decline in its US and European equities volumes, offset by retaining a near record high market share, according to a BATS statement.

US Equities on BATS exchanges came in at 21.4% market share during February 2016, unchanged MoM from January 2016, though still constituting one of its highest figures ever. Moreover, the exchange also released its trading figures in February 2016, with its average daily matched volume coming in at just 1.88 billion shares – this constituted a loss of -5.5% MoM from 1.99 billion in January 2016.

This trend was further reinforced by US Equities options, which included BATS Options, having justified an average daily matched volume of 1,697,871 contracts in February 2016, or -10.8% MoM from 1,904,383 contracts in January 2015.

Shifting focus to its European business, BATS Chi-X Europe (BXTR) constituted a 23.7% market share in February 2016, with average daily notional value reported showing $14.6 billion (€13.2 billion), compared to $15.5 billion (€14.0 billion) in January 2015, down -14.8% MoM. Overall however, BATS Chi-X Europe executed a total of $452.6 billion (€408.4 billion) of notional volume in February 2016, climbing 6.9% MoM from $423.6 (€382.1 billion) in January 2016.

Earlier this month, Hotspot, BATS’ institutional spot foreign exchange (FX) market, saw its trading volumes increase by a factor of 11.5% in nominal terms to $684.3 billion, while average daily trading volumes increased more modestly by 6.1% to $32.6 billion per day. In terms of specifics at Hotspot, the top five currency pairs in December 2015 by volume percentage on BATS exchanges were as follows:

  • EUR/USD: 23.8%
  • USD/JPY: 18.8 %
  • GBP/USD: 11.1%
  • AUD/USD: 8.0%
  • USD/CAD: 7.9%
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