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European equity ETF turnover down 2.3 per cent, says Deutsche Bank


European exchange-based equity ETF turnover declined by 3.2 per cent to EUR1.1bn in the week to 13 April, according to Deutsche Bank research.

European exchange-based equity ETF turnover declined by 3.2 per cent to EUR1.1bn in the week to 13 April, according to Deutsche Bank research.

European fixed income ETF turnover decreased by four per cent to EUR191m, 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 EUR34.9m. Among the equity ETFs, iShares Dax has the highest daily turnover of EUR60.9m.

There were three new ETF listings in the week ending 13 April. db x-trackers listed two new ETFs linked to interest rates volatility at Deutsche Borse, and Lyxor launched 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 EUR383m accounting for 34.5 per cent of total ETF turnover, followed by European regional ETFs with total turnover of EUR301m with 27.1 per cent of total turnover.

The Dax ETFs remain the dominant country products with total average daily volume of EUR98m across the five listed products and accounting for 8.8 per cent of all equity ETF volume.

Euro Stoxx 50 ETFs accounted for 14 per cent of turnover trading EUR152m 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 33.5 per cent of total turnover. The Euronext NextTrack platform has 21.2 per cent market share. The LSE’s combined Italian Exchange and London market share is now 25 per cent.

Total European equity related AUM increased by 3.2 per cent to EUR70.2bn. AUM for DJ Euro Stoxx 50 ETFs was EUR13.9bn accounting for 20 per cent of total European AUM. Fixed income ETF AUM remained around the same level at EUR33.3bn.

Overall, the largest ETF by AUM was the money market based db x-trackers II Eonia TR Index ETF with AUM of E6.5bn. 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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