Bats Solidifies Hold as Largest US Exchange for ETFs in August

Despite a tranquil August, Bats saw a growth in its ETF market share, though other volumes segments wavered MoM.

BATS Global Markets (Bats) has reported its latest monthly volumes and market share for August 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), per a recent Bats statement.

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For another straight month, Bats’ business again saw a strong performance during August 2016, which was indicative of its overall market share – the exchange witnessed a total market share of 21.1%, rising 3.4% MoM from 20.4% MoM in July 2016, making it the second largest US equities market operator. In terms of ETFs, Bats executed a total of 24.1% of trades, making it the largest US market operator for this instrument in August 2016, up from 23.8% in the month prior.

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Moreover, the exchange reported its trading figures in August 2016, with its average daily matched volume coming in at 1.29 billion shares, compared with 1.35 billion shares in June 2016, or -4.4% MoM, largely dictated by low volatility. The majority of exchanges have incurred similar declines in what has typically shaped up as one of the worst months of the calendar year to date by volumes.

Looking further into the figures, Bats also saw an average daily matched volume of 1,467,487 across its US equities options during August 2016, retreating from 1,616,116 in July 2016, or -9.2% MoM.

European Overview

Looking over to its European business, Bats Europe rose to a 23.4% market share in August 2016, en route to the distinction of Europe’s largest stock exchange, with an average daily notional value reported registering $9.1 billion (€8.1 billion) vs. $11.4 billion (€10.1 billion) or -19.8% MoM. This tend was also extended to Bats BTXR, which executed a total of $345.8 billion (€307.8 billion) of notional volume in August 2016, compared to $388.2 billion (€345.9 billion) in July 2016, or -11.0% MoM.

Earlier this month, Hotspot, Bats’ institutional spot foreign exchange (FX) market, saw its volumes decline in terms of average daily volumes, reporting $22.6 billion daily in August 2016, falling -13.7% MoM from $26.2 billion daily in July 2016. Looking at the monthly total number, the figure stood at $520.5 billion in August 2016, which is lower by -5.5% when compared to $551.0 billion in July 2016.

  • EUR/USD: 23.6%
  • USD/JPY: 14.1%
  • GBP/USD: 11.1%
  • AUD/USD: 10.0%
  • USD/CAD: 8.5%
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