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European ETF turnover down 6.2 per cent


European exchange-based equity ETF turnover declined by 6.2 per cent to EUR1.2bn in the week to 8 June, says Deutsche Bank.

European exchange-based equity ETF turnover declined by 6.2 per cent to EUR1.2bn in the week to 8 June, says Deutsche Bank.

European fixed income ETF turnover declined by 2.1 per cent to EUR172.9m, 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 EUR27.5m. Among the equity ETFs, iShares Dax (DE) has the highest daily turnover of EUR58.2m.

There were two new ETF listings. Lyxor cross listed one ETF on Deutsche Borse and one on BME.

European-style ETFs, led by short and leveraged products, kept its position as the leading product area with total turnover of EUR363m accounting for 31.3 per cent of total ETF turnover, followed by European regional ETFs with total turnover of EUR323m with 27.8 per cent of total turnover.

The Dax ETFs remain the dominant country products with total average daily volume of EUR110m across the five listed products and accounting for 9.5 per cent of all equity ETF volume.

Euro Stoxx 50 ETFs accounted for 16.4 per cent of turnover trading EUR190m per day with liquidity split across 13 ETFs and 36 different listings on nine exchanges.

The Deutsche Borse XTF platform has the largest market share with 32.9 per cent of total turnover. The Euronext NextTrack platform has 23.2 per cent market share. The LSE’s combined Italian Exchange and London market share is now 22.1 per cent.

Total European equity related AUM declined by two per cent to EUR81.4bn.

AUM for DJ Euro Stoxx 50 ETFs was EUR16.1n accounting for 19.8 per cent of total European AUM. Fixed income ETF AUM declined by 1.3 per cent to EUR32.4bn.

Overall, the largest ETF by AUM was the money market based db x-trackers II Eonia TR Index ETF with AUM of EUR4.9bn. The largest equity-based ETF by AUM was Lyxor ETF DJ Euro Stoxx 50 with AUM of EUR4.7bn.

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