European multilateral trading facility (MTF) BATS Europe has reported record European market share figures for July, as MTFs continue to gain ground against domestic exchanges.
BATS Europe, a subsidiary of US-based market operator BATS Global Markets, attained market share records in Frankfurt's DAX (5.2%), Milan's FTSE MIB (7.0%), Amsterdam's AEX (6.1%), Helsinki's OMXH25 (7.8%), Stockholm's OMXS30 (5.5%) and BEL 20 (3.7%) in July.
BATS' European gains follow a report released by agency brokerage CA Cheuvreux in July, which found that MTFs throughout Europe have grown their overall market share during the second quarter of this year.
The report noted that the three largest MTFs all recorded gains in overall market share. According to data from transaction cost analysis provider TAG, which produced the report in conjunction with Cheuvreux, European MTF Chi-X grew to 18.5% from 17.9% during the previous quarter, BATS' share increased to 5.8% from 5.1%, while London-based pan-European MTF Turquoise saw market share growth to 4% from 2.5%.
MTFs accounted for 25.65% of the total turnover in pan-European equity trading in H1 2010, up from 20.96% in H1 2009.
BATS Exchange, the firm's US trading venue also continued its recent market share gains, recording 11.1% of equity trading in July, the third consecutive month the exchange has topped 11%. BATS Exchange also reached a new high of 18.1% monthly market share in Tape B securities during July.
“We are pleased with July's results and expect market share to continue to grow significantly in all of our current businesses,” said Joe Ratterman, CEO of BATS Global Markets and BATS Exchange.
BATS Global Markets is currently seeking regulatory approval to launch BYX, its second US equity exchange, which it claims will give its customers more flexibility on pricing.