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Tally of ETFs listed on Borsa Italiana passes 300

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The number of exchange traded funds listed on the Borsa Italiana exceeded 300 for the first time in February, the company says.

The number of exchange traded funds listed on the Borsa Italiana exceeded 300 for the first time in February, the company says.

The listing of seven new ETFs on Monday 16 February took the number of ETFs on Borsa Italiana’s ETFplus market to over 300, in addition to 47 exchange traded commodities.

According to the Federation of European Securities Exchanges, in 2008 Borsa Italiana held first place among European exchanges for electronic trading in ETFs, followed by Euronext and Deutsche Borse.

Borsa Italiana first launched trading in ETFs in September 2002. At the end of 2003, the total ETF assets under management amounted to EUR530m. By the end of 2006 this figure had grown to EUR7.5bn, and by the end of 2007 total ETF assets under management had reached EUR10bn.

Despite the market conditions of 2008, by the end of last year that value continued to increase, reaching EUR10.4bn.

Trading activity on ETFplus has grown strongly since its launch, increasing from 54,000 trades in 2003 to 1,416,079 in 2008.

The total value traded increased from EUR1.5bn in 2003 to EUR48bn in 2008.

At the end of 2003 the average daily value traded was EUR5.8bn and the average daily number of trades was 215. By January 2009, the average daily value traded had reached EUR158m and the average daily number of trades reached 6,560.

The most heavily traded ETF in terms of value traded during the period 1 January to 20 February 2009 was the Lyxor ETF Euro Cash which has attracted a turnover of EUR632m.

The average size of ETF trades on Borsa Italiana in 2008 was EUR33,968 compared with EUR103,824 on Deutsche Borse and EUR78,695 on Euronext.

Pietro Poletto, director of Borsa Italiana’s ETFplus market, says: ‘Thanks to their unique advantages, ETFs are attracting more and more interest from both institutional and retail investors seeking efficient exposure to a range of asset classes. Reaching 300 listed ETFs represents a milestone for the market and demonstrates the leading role being played by Borsa Italiana in the development of the ETF market on an international level.’

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