BATS Global Markets U.S. Options Business Reports Second-Best Market Share Month

Mon Feb 4, 2013 11:52am EST

* Reuters is not responsible for the content in this press release.

- U.S. Equities Market Share 11.7%, Up From 11.1% One Year Ago

KANSAS CITY, Missouri and LONDON, Feb. 4, 2013 /PRNewswire/ -- BATS Global Markets
(BATS), a leading operator of securities markets in the U.S. and Europe, today reported
the second-best month for its U.S. equity options business with 3.9% market share in
January vs. 3.0% one year ago and 3.5% in December 2012.

[] )

BATS' U.S. equities market share came in at 11.7% in January vs. 11.1% one year ago and
11.9% in December 2012.

BATS Chi-X Europe, the largest pan-European equities exchange by notional value traded
and market share in January, recorded overall market share of 24.1% in January compared
to 23.7% in December 2012 and 25.9% a year ago. Average daily notional value was EUR7.5
billion in January vs. EUR5.9 billion in December 2012 and the strongest monthly
turnover for BATS Chi-X Europe since September 2012. BATS Chi-X Europe's CXE dark order
book was the largest dark order book in Europe with an average of EUR312.7 million
traded per day in January.

"We are pleased with another strong month of market share at BATS and, like others in
the industry, we are watching closely to see where global equity volumes go in 2013,"
said Joe Ratterman, chief executive officer and president of BATS Global Markets. "We
are also encouraged by the many different industry initiatives currently underway,
including Limit-Up/Limit-Down as well as the Consolidated Audit Trail, which will
continue to enhance the integrity and resilience of the U.S. market structure."

Overall equities industry volumes in the U.S. and Europe were up in January 2013 from
December 2012, but down year-over-year. In the U.S., overall equities volume averaged
6.4 billion shares a day in January, up from a daily average of 6.0 billion shares in
December, and down from an average 6.9 billion shares a day one year ago. In the
European securities markets covered by BATS Chi-X Europe, the overall average daily
notional value traded was EUR31.3 billion in January, up from a daily average of EUR24.9
billion in December down from EUR32.5 billion one year ago.

BATS operates two stock exchanges in the U.S. - the BATS BZX Exchange and BATS BYX
Exchange (the BATS Exchanges); BATS Options, a U.S. equity options market; and BATS
Chi-X Europe, the largest pan-European equity market.

January 2013 Review 

    --  BATS Chief Operating Officer Chris Isaacson was recognized by
        Institutional Investor as one of the "Trading Technology 40" for the
        second time in the list's two-year history. Mr. Isaacson ranked #17 on
        the list.
    --  BATS launched its Retail Price Improvement (RPI) program on the BATS BYX
        Exchange. The program is designed to provide price improvement for
        retail investors.
    --  In coordination with the other exchanges and market participants, the
        BATS Exchanges and BATS Options began industry-wide testing on Jan. 26
        for Limit Up/Limit Down (LULD) and Market-Wide Circuit Breaker (MWCB)
    --  BATS Chi-X Europe monthly market share highlights include 34.1% in
        London's FTSE 100, the highest since June 2012, and 4.4% in Madrid's
        IBEX 35, the highest since July 2012.
    --  BATS Chi-X Europe's two dark order books, CXE and BXE, both grew in
        January to combined average daily notional value of EUR552.6 million
        compared to EUR391.2 million in December 2012 and EUR460.5 million one
        year ago.

        --  CXE dark order book averaged EUR312.7 million traded per day in
            January compared to EUR218.1 million in December 2012, while BXE
            dark order book averaged EUR239.9 million traded per day in January
            compared to EUR173.0 million the previous month.
January 2013 Volume and Market Share Summary

    U.S. Equities                                                       January 2013
    -------------                                                       ------------
         Overall Industry - Average Daily Consolidated Volume           6.4 billion
         BATS Exchanges (BZX and BYX Exchange) - Matched Market Share                
         BATS Exchanges (BZX and BYX Exchange) - Average Daily Matched   754.3 million
          Volume                                                         shares
         -------------------------------------------------------------  --------------
    U.S. Equity Options
                                                                         16.8 million
         Overall Industry - Average Daily Consolidated Volume            contracts
         ----------------------------------------------------           -------------
         BATS Options - Matched Market Share                                          
         BATS Options - Average Daily Matched Volume                    647,602
    European Equities
         Pan-European Total Consolidated Volume(1) - Average Daily
          Notional Value                                                   EUR31.3
         BATS Chi-X Europe - Overall European Market Share                           
         BATS Chi-X Europe - Total Notional Value Traded                  EUR165.5
         BATS Chi-X Europe - Average Daily Notional Value                   EUR7.5

(1)Based on BATS Chi-X Europe market coverage, available at

Volume and Market Share Statistics by Market - U.S. Equities, U.S. Equity Options,
European Equities

A complete breakdown of January volume and market share for each market center is
outlined below. To track U.S. and Europe market share for all major trading exchanges
and other venues, please visit:

    U.S. Equities (The BATS
                                           January 2013     January 2012
    The BATS Exchanges (BZX & BYX                 (In millions, except
     combined)                                        percentages;
                                              volume and notional figures
                                                   exclude odd-lots)
          Average daily matched volume             754.3            766.6
          Total notional value traded for
           the month                          $535,282.2       $505,634.8
       Market share percentage (for the
            Overall matched market share            11.7%            11.1%
            Tape A                                  10.6%             9.5%
              Tape B                                14.3%            15.2%
              Tape C                                12.6%            12.1%

    Volume By Exchange:
    BZX Exchange:
         Average daily matched volume              584.1            602.5
         Total notional value traded for
          the month                           $427,332.5       $410,636.4
      Market share percentage (for the
            Overall matched market share             9.1%             8.7%
            Tape A                                   7.8%             7.1%
              Tape B                                12.0%            12.8%
              Tape C                                10.0%             9.8%

    BYX Exchange:
         Average daily matched volume              170.2            164.1
         Total notional value traded for
          the month                           $107,949.7        $94,998.4
      Market share percentage (for the
            Overall matched market share             2.6%             2.4%
            Tape A                                   2.8%             2.4%
              Tape B                                 2.3%             2.5%
                        Tape C                       2.6%             2.3%

    BATS 1000 Index
    (a broad-based U.S. equities
     market benchmark)                         16,937.62        15,007.54
                                               (01/31/13        (01/31/12
                                                  close)           close)

    U.S. Equity Options (BATS
                                         January 2013               January 2012
                                    Contracts  Market share  Contracts  Market share
    Average daily matched volume      647,602           3.9%   483,050           3.0%

    European Equities(2) (BATS Chi-X Europe)
                                                    January 2013     January 2012
                                                          (In millions, except
    Total notional value                             EUR165,454.8     EUR185,123.2
    Average daily notional value                       EUR7,520.7       EUR8,414.7
          Displayed average daily notional value       EUR6,968.1       EUR7,954.2
            Non-displayed(3) average daily
             notional value                              EUR552.6         EUR460.5

    Overall European market share                            24.1%            25.9%

    European Equities(1) (continued)

    Market share by market (for the period):
                                                    January 2013     January 2012
                                                    ------------     ------------
    London market overall                                    30.4%            34.0%
          FTSE 100 securities                                34.1%            37.9%
          FTSE 250 securities                                26.8%            27.8%

    Paris market overall                                     25.7%            27.6%
          CAC 40 securities                                  27.9%            29.7%
          CAC Next20 securities                              23.2%            26.1%

    Frankfurt market overall                                 25.2%            26.0%
          DAX 30 securities                                  26.6%            27.4%
          MDAX securities                                    27.6%            26.5%

    Amsterdam market overall                                 25.8%            31.2%
          AEX securities                                     26.7%            32.0%
          AMX securities                                     19.5%            20.2%

    Brussels market overall                                  24.2%            25.1%
          BEL 20 securities                                  25.4%            27.8%

    Milan market overall                                     13.6%            14.5%
          FTSE MIB securities                                14.5%            15.3%

    Zurich market overall                                    23.4%            26.6%
          SMI securities                                     25.4%            28.3%
          SMIM securities                                    16.1%            19.5%

    Nordic market overall                                    25.2%            21.8%
          Helsinki OMXH25 securities                         23.9%            24.3%
          Stockholm OMXS30 securities                        28.7%            25.3%
          Copenhagen OMXC20 securities                       23.0%            17.9%
          Oslo OBX securities                                20.9%            17.4%

    Vienna market overall                                    15.6%            16.8%
                  ATX securities                             15.9%            17.1%

    Lisbon market overall                                    12.3%            15.4%
                  PSI-20 securities                          12.4%            15.4%

    Dublin market overall                                     4.9%             5.5%
                  ISEQ 20 securities                          5.0%             5.5%

    Madrid market overall                                     4.3%             3.4%
                  IBEX 35 securities                          4.4%             3.4%

    Key Indices
             EUROSTOXX 50 securities                         22.4%            23.2%

(2) Represent consolidated figures for BATS Europe (BXE) and Chi-X Europe (CXE) lit and
dark books, unless otherwise noted. 
(3) BXE and CXE non-displayed order books.

About BATS Global Markets, Inc. 

BATS Global Markets, Inc. (BATS) is a leading operator of securities markets in the U.S.
and Europe. BATS develops and operates electronic markets for the trading of listed cash
equity securities in the U.S. and Europe and listed equity options in the U.S. BATS
operates two stock exchanges in the U.S., the BATS BZX Exchange and BYX Exchange; BATS
Options, a U.S. equity options market; and BATS Chi-X Europe, which operates a
FSA-authorized multilateral trading facility. BATS' innovative and proprietary
technology was developed by a dedicated core team of market and technology
professionals, catering to the needs of the broker-dealer and trading community. The
company is headquartered in the Kansas City, Mo. area, with additional offices in New
York and London. For more information, visit [].

Photo: Photo Desk,
photodesk@prnewswire.comBATS Global Markets

CONTACT:  Media (U.S.), Stacie Fleming, +1-913-815-7193,, or
Suzanne O'Halloran +1-212-378-8526,, or Media (Europe),
Kelly Bailey, +44-207-012-8950,

Web site:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.