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European equity ETF turnover drops by 2.4 per cent

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European exchange based equity ETF turnover declined by 2.4 per cent to EUR1.1bn during the week ending 31 August, according to research by Deutsche Bank.

European exchange based equity ETF turnover declined by 2.4 per cent to EUR1.1bn during the week ending 31 August, according to research by Deutsche Bank.

European fixed income ETF turnover declined by 1.9 per cent to EUR195.3m, 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 EUR22.28m. Among the equity ETFs, iShares Dax has the highest daily turnover of EUR69.27m.

There was one new listing during the week: HSBC entered the European ETF market by listing one ETF on the London Stock Exchange.

European style ETFs, led by short and leveraged products, kept its position as the leading product area with total turnover of EUR334m accounting for 29.78 per cent of total ETF turnover, followed by European regional ETFs with total turnover of EUR323m with 28.77 per cent of total turnover. The Dax ETFs remain the dominant country products with total average daily volume of EUR138m across the nine listed products and accounting for 12.3 per cent of all equity ETF volume.

DJ Euro Stoxx 50 ETFs accounted for 15.6 per cent of turnover trading EUR175m per day with liquidity split across 25 ETFs and 41 different listings on nine exchanges.

The Deutsche Borse XTF platform has the largest market share with 37.7 per cent of total turnover. The Euronext NextTrack platform has 20.8 per cent market share. The LSE’s combined Italian Exchange and London market share is now 24.5 per cent.

Total European equity related AUM remained at about the same level at EUR94.5bn during the week. AUM for DJ Euro Stoxx 50 ETFs was EUR18.4n accounting for 19.5 per cent of total European AUM. Fixed income ETF AUM remained at about the same level at EUR32.8bn.

Overall, the largest ETF by AUM was the equity based Lyxor ETF DJ Euro Stoxx 50 with AUM of EUR4.9bn. The largest money market based ETF by AUM was db x-trackers II Eonia TR Index ETF with AUM of EUR3.1bn.

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