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Seven years on, Deutsche Börse’s XTF segment is leading marketplace for ETFs in Europe

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Seven years after the introduction of the XTF segment, Deutsche Börse has further expanded its position as the leading marketplace for ETFs.


Seven years after the introduction of the XTF segment, Deutsche Börse has further expanded its position as the leading marketplace for ETFs.

‘The XTF segment currently boasts 195 index funds, the largest range of exchange-listed ETFs offered by any exchange in Europe,’ said Rainer Riess, Managing Director of Stock Market Business Development at Deutsche Börse, and responsible for the XTF segment.

‘In the first quarter of 2007, the XTF segment achieved a trading volume of over EUR 24.1 billion, which is the highest result since the segment’s introduction and represents a 45 per cent increase in turnover on the corresponding quarter last year. Investors are benefiting from an ever more diverse range of products and from the increasing liquidity of the Deutsche Börse XTF segment.’ Market share of the XTF-segment is slightly over 40 per cent.

Since April proprietary orders of Xetra participants that add liquidity to the order book are free of charge. With the new pricing model Deutsche Börse is boosting liquidity in the XTF-segment enabling investors to realize investment strategies with ETFs now even more efficient.

To commemorate the seventh anniversary of XTF, Deutsche Börse is further expanding its segment for exchange-traded index funds. A new ETF managed by Lyxor Asset Management, a subsidiary of Société Générale, has been tradable in the XTF segment since Wednesday. The new product offers investors in the XTF segment the opportunity, for the first time, to make targeted investments in Greek stocks via the MSCI Greece (ISIN: FR0010405431). The Lyxor ETF MSCI Greece enables private and institutional investors to participate in the performance of the 18 largest and best-known Greek companies from almost all sectors.

While the early years of XTF were dominated by funds on well-known European and US equity indices in particular, investors now have access to a vast range of ETFs on exotic markets, other asset classes, such as real estate and commodities, and diverse investment strategies. The offering allows investors to structure their portfolios in an increasingly optimized manner from a risk-return point of view.

At EUR 10.2 billion, stock exchange turnover surpassed the 10 billion euro mark for the first time in March 2007, which represents year-on-year growth of 64 percent. Fund assets under management in the XTF segment reached a EUR 47.5 billion at the close of 2006, which is a 77 percent increase over 2005 (EUR 26.9 billion). At the end of March 2007, fund assets under management reached a new record high of EUR 53.0 billion.

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