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Tradeweb sees record ETF trading in May 2023


Trading activity on the Tradeweb European ETF marketplace reached EUR44.8 billion in May, while the proportion of transactions processed via Tradeweb’s Automated Intelligent Execution (AiEX) tool was 81 per cent.

Adam Gould, head of equities at Tradeweb, says: “A record 21 per cent of the total platform flow was executed via AiEX last month, proof that European ETF traders increasingly use the solution to automate higher touch, larger size transactions.”

Fixed income and commodity-based ETFs saw net buying in May, with ‘buys’ surpassing ‘sells’ by eight and 12 percentage points, respectively. In contrast, ‘buys’ in equity ETFs lagged ‘sells’ by two percentage points. Activity in all three asset classes mirrored both April’s and the previous 12-month rolling average.

North America Equities proved to be the most actively-traded ETF category during the month, with over EUR9 billion in total traded volume.

Half of European-listed EFT’s most actively traded products for May were bond-based, with the iShares $ Corporate Bond UCITS ETF moving up two places from April to be ranked first.

In the US the total consolidated US ETF notional value traded in May amounted to USD53.4 billion, the firm says. As a percentage of total notional value, equities accounted for 47 per cent and fixed income for 44 per cent, with the remainder comprising commodity and specialty ETFs.

Fixed income products dominated May’s top 10 by traded notional volume for US-listed EFTs, particularly those offering investment exposure to Treasuries. In first place, the iShares Short Treasury Bond ETF last featured in the list in February 2023.

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