BATS Volume Falls for Second Month in Row
Traders Magazine Online News, December 3, 2012
BATS Global Markets said that its average daily matched volume was 787.7 million shares in November, down from 796.4 million shares in October and 806.5 million shares in September.
That is a drop of 2.3 percent in that two-month period. Compared to a year ago, volume is off 5.6 percent. In November 2011, the company's two national exchanges traded 843.6 million shares.
But BATS' market share remained near recored levels. In November, the matched market share of its two national stock exchanges totaled 12.7 percent. That is down from 13.0 In October, but the fifth month in a row topping the 12-percent mark.
A year ago, BATS' two exchanges had an 11.5 percent share of trading in equities in the United States.
The volume drop is the industry's first indicator of a continuing drop in stock market activity. BATS typically is the first exchange opertor to report its monthly market share and volume figures.
In equities options, BATS Options saw its matched market share hold steady at 3.6 percent in November, unchanged from October but still up from the 3.1 percent seen one year ago. Average daily matched volume inched higher to 561,574 from 535,288 in October.
One year ago options volume was 500,081 contracts.
The BATS 1000 Index, a broad based U.S. equities market benchmark, ended the month up 23.27 points, or just 1/10 of a percent higher, closing at 15,903.30.
BATS operates two stock exchanges in the U.S., the BATS BZX Exchange and BATS BYX Exchange; as well as BATS Options, a U.S. equity options market; and BATS Europe and Chi-X Europe, which operate FSA-authorized multilateral trading facilities.
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