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European equity ETF turnover down 2.8 per cent

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European exchange based equity ETF turnover declined by 2.8 per cent to EUR1.1bn during the week ending 18 January, according to a report by Deutsche Bank.

European fixed income ETF turnover rose by 5.8 per cent to EUR207.5m.

In exchange based bond ETFs, db x-trackers II Eonia TR Index ETF has the highest daily turnover of EUR18.30m.

Among the equity ETFs, iShares Dax (DE) has the highest daily turnover of EUR52.71m.

There were 23 new listings during the week. Casam issued 13 new ETFs on NYSE Euronext Paris followed by Credit Suisse AM which issued seven new ETFs on Swiss Stock Exchange. UBS issued two new ETFs on Swiss Stock Exchange and ETFlab launched one new ETF on Deutsche Borse.

European regional ETFs remained at the top position as leading product area with total turnover of EUR342m with 31.93 per cent of total ETF turnover followed by country ETFs with total turnover of EUR248m accounting for 23.15 per cent of total ETF turnover.

The Dax ETFs remain the dominant country products with total average daily volume of EUR123m across the 14 listed products and accounting for 11.4 per cent of all equity ETF volume.

DJ Euro Stoxx 50 ETFs accounted for 15.4 per cent of turnover trading EUR165m per day with liquidity split across 17 ETFs and 44 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 18.3 per cent market share. The LSE’s combined Italian Exchange and London market share is now 28.0 per cent.

Total European Equity related assets under management declined by 1.6 per cent to EUR115.7bn. AUM for DJ Euro Stoxx 50 ETFs was EUR22.9bn accounting for 20.0 per cent of total European AUM. Fixed income ETF AUM remained at about the same level at EUR36.4bn.

Overall, the largest ETF by AUM was Lyxor ETF DJ Euro Stoxx 50, an equity based ETF, with AUM of EUR5.2bn. The largest fixed income ETF by AUM was the iShares EUR Corporate Bond with AUM of EUR3.3bn.

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