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European equity ETF turnover down 3.5 per cent

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European exchange-based equity ETF turnover declined by 3.5 per cent to EUR1.0bn in the week to 6 July, according to Deutsche Bank.

European exchange-based equity ETF turnover declined by 3.5 per cent to EUR1.0bn in the week to 6 July, according to Deutsche Bank.

European fixed income ETF turnover rose by 7.4 per cent to EUR216.3m, 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 EUR41.3m. Among the equity ETFs, iShares Dax (DE) has the highest daily turnover of EUR51.3m.

There were 33 new listings and five cross-listings in the week to 6 July. Casam listed 16 new ETFs and cross-listed one fund on Euronext Paris comprising nine fixed income, three regional and five style ETFs. Credit Suisse listed 16 new ETFs on Swiss Exchange comprising nine fixed income based ETFs and seven equity based ETFs. NBGAM listed one new ETF on the Athens Exchange and ETF Securities cross-listed four ETFs on Euronext Amsterdam.

European-style ETFs, led by short and leveraged products, kept its position as the leading product area with total turnover of EUR312m accounting for 29.8 per cent of total ETF turnover, followed by European regional ETFs with total turnover of EUR308m with 29.4 per cent of total turnover.

The Dax ETFs remain the dominant country products with total average daily volume of EUR102m across the five listed products and accounting for 9.7 per cent of all equity ETF volume.

Euro Stoxx 50 ETFs accounted for 16.0 per cent of turnover trading EUR167m 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 33.5 per cent of total turnover. The Euronext NextTrack platform has 23.8 per cent market share. The LSE’s combined Italian Exchange and London market share is now 24.7 per cent.

Total European equity-related assets under management declined by 2.5 per cent to EUR78.6bn.

AUM for DJ Euro Stoxx 50 ETFs was EUR15.1n accounting for 19.2 per cent of total European AUM. Fixed income ETF AUM remained at about the same level at EUR32.5bn.

Overall, the largest ETF by AUM was the money market based db x-trackers II Eonia TR Index ETF with AUM of EUR4.6bn. The largest equity-based ETF by AUM was Lyxor ETF DJ Euro Stoxx 50 with AUM of EUR4.4bn.

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