Bats US Market Share Rises in November with Volumes Pointed Higher

Bats saw its volumes swell in November, thanks to an influx of volatility during the month.

BATS Global Markets (Bats) has disclosed its latest volumes and market share for the month ending November 2016, which again saw the exchange retain its spot as one of the largest exchanges in the US market as well as in exchange-traded-funds (ETFs) space. The group also saw its market share rise slightly MoM, per a recent Bats statement.

For the third consecutive month, Bats’ business reported a strong performance during November 2016, which was reflective of its overall rising market share – the exchange registered a total market share of 20.4% vs. 20.3% MoM in October 2016, making it the second largest US equities market operator.

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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.

As such, the exchange released its trading figures in November 2016, with its average daily matched volume coming in at 1.62 billion shares, compared with just 1.29 billion shares in October 2016, or 25.6% MoM, largely influenced by a large volatility due to the US election.

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Looking at its other figures, Bats also saw an average daily matched volume of 2,098,949 contracts across its US equities options during November 2016, surging 23.0% MoM against 1,706,297 in October 2016.

European Snapshot

Looking over to its European business, Bats Europe experienced a separate trend entirely as its business fell slightly to a 22.1% market share in November 2016, down from 23.5% in October 2016 – the stock exchange is still Europe’s largest, with an average daily notional value reported registering $11.4 billion (€10.6 billion) vs. $10.9 billion (€10.1 billion) or 4.9% MoM.

This growth was also extended to Bats BTXR, which executed a total of $420.3 billion (€391.1 billion) of notional volume in November 2016, compared to $382.9 billion (€355.7 billion) in October 2016, or 10.0% MoM.

Earlier this month, Hotspot, Bats’ institutional spot foreign exchange market, saw its figures also grow in terms of total trading volumes – in November these amounted to $668.2 billion, which is an increase of 25% when compared to the previous month and a 42% rise when compared to the same month of 2015.

  • EUR/USD: 23.0%
  • USD/JPY: 15.5%
  • GBP/USD: 9.3%
  • AUD/USD: 8.0%
  • USD/CAD: 7.4%
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