Bats sees half-day’s volume in first hour

Half a day’s trading took place in just one hour on Bats’ European trading platforms today.

Bats Global Markets has reported that over 25 billion worth of stock has been traded in the first hour of opening, compared to the past five day’s average of 50 billion.

This surge in trading volume is also accompanied by a slight drop in GBP. The pound initially dropped to $1.3224 on Friday, down from $1.5018 when exit polls were released.

Mark Hemsley, Bats Europe CEO, said: “We anticipate volatile markets globally surrounding the uncertainty of the impact of a potential Brexit in the coming months and our top priority is the orderly operation of our marketplaces.  We remain laser-focused on the needs and requirements of our customers and will ensure they are fully apprised of our plans as we adapt to this new business environment.”

Bats also stated that at 9:10 am, more than nine billion had been traded in Euro STOXX 50 stocks compared to the average daily value of 11.6 billion.

Bats claims it is well prepared to adapt their business accordingly as Britain plans its exit from the EU and are ready to handle the extremely high trade volumes following the votes outcome.