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SIX Swiss Exchange reports ETF trading surged in Q4 2023

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Trading turnover in ETFs at SIX Swiss Exchange witnessed a substantial increase of 43.29 per cent in the fourth quarter of 2023, reaching CHF20.849 billion compared to the preceding quarter’s CHF14.550 billion.

The exchange writes that this spike was largely the result of equity ETFs, which witnessed a growth of over 75 per cent in comparison to the previous quarter. This notable upswing represented a staggering 46.08 per cent surge when measured against the same quarter in the previous year.

The annualised data did however reveal a contrasting picture, with the total turnover for 2023 amounting to CHF64.22 billion, marking a 31.94 per cent decline from the robust figures recorded in 2022, which stood at CHF94.36 billion. This downturn is attributed to the persistently challenging market conditions that prevailed throughout the year across all major European markets.

One of the noteworthy shifts in the ETF landscape is the alteration in the average ticket size, writes the exchange, which saw a substantial decrease of 33.25 per cent at the end of the year. This shift can primarily be attributed to the reduced number of trades in the 100,000 to 1,000,000 size range, indicating a potential shift in investor behaviour or response to market dynamics.

But despite the dip, the fourth quarter displayed a positive trajectory, with the number of transactions also increasing by 12.56 per cent to reach 441,794. This surpassed the transaction volume of the same quarter in the previous year by 1.98 per cent, totalling 1.7 million transactions for 2023 and outperforming the 2022 figure of 1,682,117 transactions, the exchange says.

A significant highlight in the ETF arena at SIX Swiss Exchange was the substantial growth in the number of newly listed ETFs, the exchange writes. In the fourth quarter, 49 new ETFs were introduced, contributing to a cumulative total of 1,693 ETFs at the end of 2023. The new listings predominantly focus on bond and equity ETFs, suggesting a continued diversification of investment options for market participants.

“These findings underscore the resilience and adaptability of the ETF market, which managed to thrive in Q4 despite the overarching challenges faced throughout last year,” says André Buck, global head of sales and relationship management at SIX Swiss Exchange.

“As markets continue to evolve, we’re looking forward to expanding the range of ETFs available to market participants on SIX Swiss Exchange, for example, ETF QOD Europe launched in December 2023.”

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