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Tradeweb ETF update for January 2024 reports record ETF trading figures

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Trading activity on the Tradeweb Markets institutional European- and US-listed ETF platforms reveals that the Tradeweb European ETF marketplace reached EUR51.7 billion in January, while the proportion of transactions processed via Tradeweb’s Automated Intelligent Execution (AiEX) tool amounted to a record figure of 85.8 per cent.

Adam Gould, head of equities at Tradeweb, says: “This year is off to a very strong start. We’ve had a record-breaking proportion of volume traded through AiEX at 23.1 per cent of the overall platform flow, as well as a record proportion of transactions at 85.8 per cent. Our clients are continuing to recognise the value in automating their trades and achieving higher quality execution at scale.”

In January, trading activity in equity-based ETFs was almost two-thirds of the total traded volume at 64 per cent, while fixed income and commodities were at 31 per cent and 5 per cent, respectively. Once again, commodities was the only ETF asset class where ‘sells’ exceeded ‘buys’, this time by 4 percentage points. North American Equities was the most heavily-traded ETF category, with EUR 13 billion in total notional volume. 

Top 10 by traded notional volume

Half of the top 10 spots were occupied by equity-based products, with the iShares Core S&P 500 UCITS ETF moving one place up from the month prior to be ranked first in January.

In the US, total consolidated US ETF notional value traded in January reached USD69.6 billion, the third highest month on record.

Adam Gould, head of equities at Tradeweb, says: “It was great to see that Tradeweb institutional ETF volumes in the US were the third highest on record, indicating that clients are increasingly seeing the benefit of putting multiple liquidity providers in competition on their orders.”

Volume breakdown

As a percentage of total notional value, equities accounted for 59 per cent and fixed income for 34 per cent, with the remainder comprising commodity and specialty ETFs.

Top 10 by traded notional volume

Similar to Europe, half of the top 10 ETFs by traded notional volume were equity-based, with the iShares Core S&P 500 ETF taking first place in January. The number one spot in both Europe and the US was occupied by a product offering investor exposure to US stocks.

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