BATS Equities Market Share Flat, but Options Slump in March

BATS Global Markets reported its U.S. equities matched market share totaled 10.9 percent in March, unchanged from February, and slightly off from 11.1 percent a year ago. The exchange operator saw an average daily matched volume of 723.3 million shares.

In February, BATS saw an average daily matched volume of 757.5 million shares.

The market share figures come amid the exchange operator’s failed initial public offering on March 23 when a technical glitch forced BATS to withdraw its IPO. Technical problems on the same day as the IPO failure also led to the suspension of trading in technology giant Apple.
The IPO could still happen, perhaps as early as next quarter. Meanwhile, the company’s chief executive Joe Ratterman has stepped down as chairman, though he continues to helm the exchange.

BATS Options saw its matched market share come in at 2.4 in March, down from 2.8 percent in February, and off from the 2.6 percent achieved one year ago. Average daily matched volume was down almost 17 percent in March with 402,839 contracts traded.

The options exchange had an average daily matched volume of 483,306 contracts in February.

BATS Options’ highest one-day matched contract volume for the month was on March 14 with 539,126 contracts traded, off 20 percent from 678,878 contracts that changed hands the previous month on February 3.

The BATS 1000 Index ended the month up 361.64 points, or 2.3 percent, to close at 15,866.96.

BATS operates two stock exchanges in the U.S., the BATS BZX Exchange and BATS BYX Exchange; BATS Options, a U.S. equity options market; and BATS Europe and Chi-X Europe, which operate FSA-authorized multilateral trading facilities.