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European equity ETF turnover up 2.2 per cent


European exchange based equity ETF turnover rose by 2.2 per cent to EUR1.2bn in the week ending 28 September, according to Deutsche Bank.

European fixed income ETF turnover remained at about the same level at EUR181m, 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 EUR19.67m. Among the equity ETFs, iShares Dax (DE) has the highest daily turnover of EUR62.57m.

There were 14 new listings during the week. BNP Paribas listed four ETFs focusing on the BRIC countries on NYSE Paris and listed nine ETFs on Deutsche Borse. db x-trackers listed one new ETF on Deutsche Borse.

European style ETFs, led by short and leveraged products, kept its position as the leading product area with total turnover of EUR357m accounting for 30.94 per cent of total ETF turnover, followed by European regional ETFs with total turnover of EUR310m with 26.90 per cent of total turnover.

The Dax ETFs remain the dominant country products with total average daily volume of EUR143m across the nine listed products and accounting for 12.4 per cent of all equity ETF volume.

DJ Euro Stoxx 50 ETFs accounted for 13.3 per cent of turnover trading EUR154m 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 35.2 per cent of total turnover. The Euronext NextTrack platform has 22.3 per cent market share. The LSE’s combined Italian Exchange and London market share is now 26.3 per cent.

Total European equity related AUM remained at about the same level at EUR98.7bn. AUM for DJ Euro Stoxx 50 ETFs was EUR19.6bn accounting for 19.9 per cent of total European AUM. Fixed income ETF AUM remained at about the same level at EUR32.9bn.

Overall, the largest ETF by AUM was the equity based Lyxor ETF DJ Euro Stoxx 50 with AUM of EUR5.0bn. The largest fixed income ETF by AUM was the iShares EUR Corporate Bond with AUM of EUR3.2bn.

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