Bats Exchange, an innovative and technology leading U.S. securities exchange, reported record volume during 2008, including average daily matched volume in all U.S. listed equities for the year of 852.9 million shares, an increase of about 186 percent from 297.7 million in 2007.
The firm, which completed its transition from an ECN to an exchange on Nov. 7, 2008, also made impressive gains in matched market share throughout the year. For the last six months of 2008, BATS' average matched market share was 10.52%, compared to an average of 6.11% during the last six months of 2007.
Most noteworthy in December 2008, BATS Exchange's internal match rate reached a record 89.72%.
"We're very pleased with our performance in 2008 as we continue to work to make markets better," said BATS CEO Joe Ratterman. "In particular, the December match rate is impressive as it shows how more and more shares are matching on our book - instead of being routed out to other venues - and gives our members increased confidence that an order sent to BATS will be executed on our platform."
Also in December, BATS' matched market share was 10.46%, compared with 6.30% in December 2007. BATS' matched volume in all U.S. securities was 918.8 million shares, compared to 371.7 million shares in December 2007.
December vital market share statistics for BATS include:
• BATS average total handled volume was 1,025,427,638 shares daily
• BATS average matched volume was 918,765,241 shares daily
• BATS average internal match rate was 89.72% (new record)
• BATS matched market share for Tape A securities was 8.62% (2nd highest in firm history)
• BATS matched market share for Tape B securities was 15.18%
• BATS matched market share for Tape C securities was 10.73%
• BATS matched market share for all securities was 10.46% (3rd highest in firm history)
• BATS matched market share in terms of notional value, or dollar value traded, was 12.46%