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Exchange-based equity ETF turnover rises by 3.8 per cent

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Exchange-based equity exchange-traded fund turnover rose by 3.8 per cent in the week to 6 April, according to Deutsche Bank researchers Aram Flores and Shan Lan.

Exchange-based equity exchange-traded fund turnover rose by 3.8 per cent in the week to 6 April, according to Deutsche Bank researchers Aram Flores and Shan Lan.

Daily turnover was EUR1.1bn. European fixed income ETF turnover increased by 4.5 per cent to EUR199m, with money market ETFs continuing to be the main focus.

In exchange-based bond ETFs, db x-trackers II Eonia TR Index ETF has the highest daily turnover of EUR36.4m. Among the equity ETFs, iShares Dax has  the highest daily turnover of EUR64.8m.

There were two new ETF listings in the previous week. db x-trackers cross listed an equity-based ETF at Borsa Italiana and Casamlaunched a new bond ETF at NYSE Euronext Paris.

European-style ETFs, led by short and leveraged products, kept its position as the leading product area with total turnover of EUR413m accounting for 36.1 per cent of total ETF turnover, followed by European regional ETFs with total turnover of EUR300m with 26.2 per cent of total turnover.

The Dax ETFs remain the dominant country products with total average daily volume of EUR106m across the five listed products and accounting for 9.2 per cent of all equity ETF volume.

Euro Stoxx 50 ETFs accounted for 14 per cent of turnover trading EUR161m per day with liquidity split across 12 ETFs and 35 different listings on nine exchanges.

The Deutsche Borse XTF platform has the largest market share with 33 per cent of total turnover. The Euronext NextTrack platform has 23.7 per cent market share. The LSE’s combined Italian Exchange and London market share is now 24.2 per cent.

Total European equity related AUM increased by 5.5 per cent to EUR68.05bn during last week. AUM for DJ Euro Stoxx 50 ETFs was EUR13.6bn accounting for 20 per cent of total European AUM.

Fixed income ETF AUM remained around the same level at EUR33.39bn.

Overall, the largest ETF by AUM was the money market based, db x-trackers II Eonia TR Index ETF with AUM of EUR6.5bn. The largest equity based ETF by AUM was the Lyxor ETF DJ Euro Stoxx 50 ETF with AUM of EUR4.6bn.

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