BATS Exchange | Maker Opportunity

Maker Opportunity

Symbol	Missed Liquidity	Exhausted Liquidity	Routed Liquidity	Volume Opportunity	BATS ADV	Liquidity Opportunity (% of ADV)
SPY	29,186,840	10,075,495	1,786,440	41,048,775	17,607,779	233.13
IWM	4,947,328	4,110,576	233,044	9,290,947	6,415,162	144.83
SDS	4,278,883	2,053,581	244,708	6,577,171	1,798,263	365.75
VXX	3,444,719	2,122,814	549,795	6,117,328	10,935,439	55.94
EEM	2,158,063	3,610,457	224,202	5,992,722	8,449,870	70.92
FB	1,422,142	4,121,038	149,710	5,692,889	2,847,300	199.94
QQQ	2,469,290	1,742,013	174,134	4,385,438	4,504,799	97.35
GLD	2,608,982	1,233,201	176,507	4,018,690	1,016,527	395.34
SPXU	2,803,462	1,043,567	89,469	3,936,498	1,245,328	316.10
BAC	2,102,013	1,223,770	485,236	3,811,019	6,014,203	63.37
FXI	788,610	2,796,105	36,416	3,621,131	2,719,203	133.17
ELN	581,311	2,795,397	130,948	3,507,655	3,711,596	94.51
MU	1,658,096	1,457,129	235,813	3,351,039	4,797,914	69.84
SSO	2,391,137	600,299	128,700	3,120,137	420,754	741.56
XIV	1,599,452	1,438,337	66,110	3,103,899	3,548,509	87.47
IVV	2,162,290	768,013	78,002	3,008,305	661,132	455.02
MSFT	1,267,041	1,582,837	134,339	2,984,216	4,064,087	73.43
PLD	235,448	2,621,194	20,000	2,876,642	404,047	711.96
LLY	776,398	2,018,514	26,691	2,821,602	519,551	543.08
IYR	1,251,938	1,460,321	85,581	2,797,840	3,096,505	90.35
XLF	1,739,459	931,275	124,252	2,794,986	5,527,348	50.57
TNA	1,723,789	885,418	82,080	2,691,287	1,585,796	169.71
SIRI	1,457,234	1,071,643	91,107	2,619,984	4,631,153	56.57
PFE	1,224,684	1,090,759	221,625	2,537,068	6,092,422	41.64
MNKD	1,646,145	653,714	142,236	2,442,094	925,800	263.78

Data for 2013-06-13 to 2013-06-19 inclusive.

Definitions
Missed Liquidity: This is a measure for the last week of the average daily volume requested at a price equal or better than the NBBO where we had no liquidity.
Exhausted Liquidity: This is a measure for the last week of the average daily volume requested at a price equal or better than the NBBO, which were partially filled.
Routed Liquidity: This number represents for the last week the average daily volume on orders which were routed and filled on another venue.
Volume Opportunity: This is a measure of the total average daily volume of the missed, exhausted and routed liquidity.
BATS ADV: Average Daily Volume for the last week of shares matched on BATS for the security shown.
Liquidity Opportunity: Percentage of the ADV missed, exhausted or routed. The higher the percentage the larger the market making opportunity.