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European equity ETF turnover rises by 6.4 per cent

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European exchange based equity ETF turnover rose by 6.4 per cent to EUR1.4bn, in the week ending 8 February, according to a report from Deutsche Bank.

European fixed income ETF turnover rose by 10.9 per cent to EUR264.6m.

In exchange based bond ETFs, db x-trackers US Dollar Money Market ETF has the highest daily turnover of EUR19.78m. Among the equity ETFs, iShares DAX (DE) has the highest daily turnover of EUR69.89m.

There were three new listings during the week. Comstage issued three new ETFs on NYSE Euronext Paris, all of which were primary listings.

European regional ETFs remained at the top position as leading product area with total turnover of EUR396m with 28.41 per cent of total ETF turnover followed by style ETFs with total turnover of EUR377m accounting for 27.05 per cent of total ETF turnover.

The DAX ETFs remain the dominant country products with total average daily volume of EUR156m across the 14 listed products and accounting for 11.2 per cent of all equity ETF volume.

DJ Euro Stoxx 50 ETFs accounted for 14.0 per cent of turnover trading EUR195m 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 35.9 per cent of total turnover. The Euronext NextTrack platform has 20.5 per cent market share. The LSE’s combined Italian Exchange and London market share is now 27.1 per cent.

Total European equity related assets under management declined by 1.2 per cent to EUR109.7bn. AUM for DJ Euro Stoxx 50 ETFs was EUR20.3bn accounting for 18.5 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 iShares S&P 500 Index Fund (IUSA), an equity based ETF, with AUM of EUR4.7bn. The largest fixed income ETF by AUM was the iShares EUR Corporate Bond with AUM of EUR3.3bn.

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