Trading activity on the Tradeweb European-listed ETF marketplace reached EUR30.67 billion in July, a new high for monthly notional volume. The proportion of transactions completed via Tradeweb’s Automated Intelligent Execution Tool (AiEX) climbed to a record 68.1 per cent.
Adriano Pace, head of equities (Europe) at Tradeweb, says: “Our European ETF platform has defied the traditional summer slowdown, against a background of plunging bond yields and a reversal of interest rate expectations. Trading activity was consistent throughout the month, with average daily volumes reaching EUR 1.34 billion, up 60 per cent year over year and more than double since July 2017.”
After eight consecutive months of net buying, fixed income ETFs were mostly sold in July. In contrast, ‘buys’ in shares- and commodity-based products surpassed ‘sells’ by six and 16 percentage points, respectively. Europe Equities reclaimed the most actively-traded category spot from its North America equivalent, with more than EUR 6.5 billion in notional volume.
Equity and fixed income products were equally represented in July’s top ten list by traded notional volume. Ranked first, the Xtrackers II EUR Overnight Rate Swap UCITS ETF aims to reflect the performance of the Deutsche Bank EONIA Total Return Index.