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European equity ETF turnover rises by 3.5 per cent

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European exchange-based equity ETF turnover rose by 3.5 per cent in the week to 3 August, according to research by Deutsche Bank.

European exchange-based equity ETF turnover rose by 3.5 per cent in the week to 3 August, according to research by Deutsche Bank.

Daily turnover was EUR1.1bn during the week. European fixed income ETF turnover remained at about the same level at EUR189m, 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 EUR30.15m. Among the equity ETFs, iShares Dax (DE) has the highest daily turnover of EUR67.25m.

There were 22 new listings during the week. Source launched 18 new ETFs listed at Deutsche Borse, Casam launched two ETFs at the NYSE Euronext Paris and Julius Baer launched two ETFs at Swiss Stock Exchange.

European style ETFs, led by short and leveraged products, kept its position as the leading product area with total turnover of EUR317m accounting for 29.6 per cent of total ETF turnover, followed by European regional ETFs with total turnover of EUR312m with 29.2 per cent of total turnover. The Dax ETFs remain the dominant country products with total average daily volume of EUR136m across the five listed products and accounting for 12.7 per cent of all equity ETF volume.

Euro Stoxx 50 ETFs accounted for 17.0 per cent of turnover trading EUR182m 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 37.2 per cent of total turnover. The Euronext NextTrack platform has 24.9 per cent market share. The LSE’s combined Italian Exchange and London market share is now 23.1 per cent.

Total European equity related AUM rose by 3.8 per cent to EUR90.6bn. AUM for DJ Euro Stoxx 50 ETFs was EUR17.4n accounting for 19.2 per cent of total European AUM. Fixed income ETF AUM rose by 1.1 per cent to EUR32.7bn.

Overall, the largest ETF by AUM was the equity-based Lyxor ETF DJ Euro Stoxx 50 with AUM of EUR4.7bn. The largest fixed income ETF by AUM was the money market based db x-trackers II Eonia TR Index ETF with AUM of EUR3.6bn.

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