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European equity ETF turnover rises 18.7 per cent


European exchange based equity ETF turnover rose by 18.7 per cent to EUR1.3bn in the week ending 1 February, according to research by Deutsche Bank.

European fixed income ETF turnover rose by 18.1 per cent to EUR238.7m.

In exchange based bond ETFs, db x-trackers II Eonia TR Index ETF has the highest daily turnover of EUR17.44m. Among the equity ETFs, iShares Dax (DE) has the highest daily turnover of EUR65.46m.

There were 22 new listings during the week. Blackrock Fund Advisors issued eight new ETFs on the London Stock Exchange and Credit Suisse AM issued six new ETFs on Swiss Stock Exchange.

ETF Securities issued four new ETFs on Borsa Italiana, and db x-trackers listed two new bond ETFs and Comstage issued one new bond ETF on Deutsche Borse. Source launched one new ETF on the London Stock Exchange.

All the new listings were primary listings except those issued by ETF Securities and four out of eight issued by Blackrock Fund Advisors.

European regional ETFs remained at the top position as leading product area with total turnover of EUR380m with 29.01 per cent of total ETF turnover followed by style ETFs with total turnover of EUR339m accounting for 25.88 per cent of total ETF turnover. The Dax ETFs remain the dominant country products with total average daily volume of EUR150m across the fourteen listed products and accounting for 11.4 per cent of all equity ETF volume.

DJ Euro Stoxx 50 ETFs accounted for 14.5 per cent of turnover trading EUR189m 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 37.0 per cent of total turnover. The Euronext NextTrack platform has 19.7 per cent market share. The LSE’s combined Italian Exchange and London market share is now 27.2 per cent.

Total European equity related assets under management remained at about the same level at EUR111bn. AUM for DJ Euro Stoxx 50 ETFs was EUR21.7bn accounting for 19.5 per cent of total European AUM. Fixed income ETF AUM remained at about the same level at EUR36.7bn.

Overall, the largest ETF by AUM was Lyxor ETF DJ Euro Stoxx 50, an equity based ETF, with AUM of EUR4.9bn. The largest fixed income ETF by AUM was the iShares EUR Corporate Bond with AUM of EUR3.3bn.

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