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European equity ETF turnover rises by 5.7 per cent

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European exchange-based equity ETF turnover rose by 5.7 per cent in the week to 10 August, according to research by Deutsche Bank.

European exchange-based equity ETF turnover rose by 5.7 per cent in the week to 10 August, according to research by Deutsche Bank.

Daily turnover during the week was EUR1.1bn. European fixed income ETF turnover declined by 3.4 per cent to EUR182.4m, 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 EUR26.01m. Among the equity ETFs, iShares Dax (DE) has the highest daily turnover of EUR72.05m.

European regional ETFs became the leading product area with turnover of EUR336m accounting for 29.7 per cent of total turnover, followed by European style ETFs with turnover of EUR323m accounting for 28.6 per cent of total ETF turnover.

The Dax ETFs remain the dominant country products with total average daily volume of EUR145m across the five listed products and accounting for 12.8 per cent of all equity ETF volume.

Euro Stoxx 50 ETFs accounted for 17.0 per cent of turnover trading EUR192m 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 36.9 per cent of total turnover. The Euronext NextTrack platform has 23.6 per cent market share. The LSE’s combined Italian Exchange and London market share is now 24.1 per cent.

Total European equity-related AUM remained at about the same level at EUR90.8bn. AUM for DJ Euro Stoxx 50 ETFs was EUR17.3n accounting for 19.0 per cent of total European AUM. Fixed income ETF AUM remained at about the same level at 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 money market based ETF by AUM was db x-trackers II Eonia TR Index ETF with AUM of EUR3.6bn.

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