Return to Market Share by Index Page

Explanation of Market Share Methodology

BATS monitors market data feeds from major European Stock Exchanges and MTFs and summarises order book executions from each market centre. Data may be shown by notional value or by volume, as selected by tabs at the top of the page. "Notional Value" is calculated by multiplying the execution price by the total number of shares executed for each transaction. Values are converted to Euros using an exchange rate that is updated daily. Current exchange rates are available here. "Volume" is calculated from the number of shares executed in each transaction.

Each row shows the notional value of order book executions from an exchange or MTF (or group of market centres operating a common platform under common ownership). Each column shows notional value for a given market segment. The "FTSE 100" column shows the total notional value of order book executions for securities that are components of the FTSE 100 index. The "CAC 40" column shows the total notional value of order book executions for securities that are components of the CAC 40 index and the "DAX" column shows the total notional value of order book executions for securities that are components of the DAX index. The "Market" column shows the total notional value of order book executions for all securities monitored by BATS as detailed in our Reference Data. The green arrow in the "Market" column controls the number of European indices for which market share is displayed. Note that the "Market" figure for a given row will not necessarily equal the total of the values for that row, as securities may be accounted for in more than one index (but only counted once in the "Market" column) and BATS monitors some securities that are not part of any covered index. The "Volume Summary" tab shows a similar view calculated by the number of shares traded.

The left half of the display shows data for the current day delayed by 15 minutes. The right half of the display shows the average value for the previous 5 trading days.

The lower half of the page shows a summary for a broad range of European Indices.

The "BATS" column shows the notional value of BATS order book executions for securities that are components of the given index. The "Market" column shows the total notional value of order book executions for securities that are components of the given index across all monitored markets. The "% of Mkt" column shows BATS market share of stocks that are components of the given index. To the right is a stacked bar chart, showing the total notional value, by market centre, of order book executions for securities that are components of the given index.

BATS believes the data is reliable, but does not guarantee its accuracy or completeness.