Tradeweb has reported that total traded volume on the Tradeweb European ETF marketplace amounted to EUR57.1 billion in November.
The percentage of transactions and notional volume completed via Tradeweb’s Automated Intelligent Execution (AiEX) tool registered at 94 per cent and 33 per cent, respectively.
Adam Gould, Global Head of Equities at Tradeweb, says: “On our European institutional platform, we’re continuing to see a broader range of clients engage with our RFQ offering, with many increasingly using ETF products to express market views and manage risk in fast-moving markets.”
Equities remained the most actively-traded ETF asset class in November, comprising 67 per cent of the overall platform flow. In fixed income-based funds, ‘sells’ exceeded ‘buys’ by six percentage points, whereas equity- and commodity-based products saw net buying by 12 and 16 percentage points, respectively.
North America Equities remained the most heavily-traded ETF category during the month, generating EUR13.5 billion in monthly volume.
In November, six of the most actively-traded ETFs were equity-based, with the remainder consisting of fixed income- and commodity-based funds. The iShares Core S&P 500 UCITS ETF moved from third in October to place first this month, while the iShares UK Gilts 0-5yr UCITS ETF moved from eighth to second. The iShares Core MSCI World UCITS ETF, which offers exposure to companies from developed countries, came in third.
In the US, total consolidated US ETF notional value traded in November reached USD75.1 billion.
Adam Gould, Global Head of Equities at Tradeweb, says: “November saw an all-time high percentage of transactions and volume executed via AiEX in the US, registering at 54 per cent and 16 per cent, respectively. Client adoption of automation has broadened as firms look to improve execution quality and operate more efficiently across markets.”
As a percentage of total notional value, equities accounted for 61 per cent and fixed income for 32 per cent, with the remainder comprising commodity and specialty ETFs.
In a reversal of October’s trend, six of the top 10 ETFs by traded notional volume in November were equity-based, with the remainder being fixed income-based. The Vanguard 500 Index Fund ETF, which appeared third last month, came in first. Meanwhile, the iShares iBoxx $ Investment Grade Corporate Bond ETF placed second and the iShares iBoxx $ High Yield Corporate Bond ETF was third.
