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European equity ETF turnover rises by six per cent


European exchange based equity ETF turnover rose by six per cent to EUR1.5bn during the week ending 2 November, according to Deutsche Bank.

European fixed income ETF turnover rose by 2.2 per cent to EUR184.6m, 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 EUR19.63m. Among the equity ETFs, iShares Dax (DE) has the highest daily turnover of EUR80.07m.

There were seven listings during the week, all of which came from db x-trackers, which cross listed seven ETFs on Borsa Italiana.

European style ETFs, led by short and leveraged products, kept its position as the leading product area with total turnover of EUR439m accounting for 29.89 per cent of total ETF turnover, followed by European regional ETFs with total turnover of EUR394m with 26.82 per cent of total turnover. The Dax ETFs remain the dominant country products with total average daily volume of EUR210m across the nine listed products and accounting for 14.3 per cent of all equity ETF volume.

DJ Euro Stoxx 50 ETFs accounted for 14.3 per cent of turnover trading EUR210m per day with liquidity split across 26 ETFs and 42 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 21.7 per cent market share. The LSE’s combined Italian Exchange and London market share is now 26.0 per cent.

Total European equity related assets under management declined by 2.6 per cent to EUR98.2bn. AUM for DJ Euro Stoxx 50 ETFs was EUR18.8bn accounting for 19.2 per cent of total European AUM. Fixed income ETF AUM remained at about the same level at EUR34bn.

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 iShares EUR Corporate Bond with AUM of EUR3.2bn.

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