february 2014 etf and et p monthly report
DESCRIPTION
February 2014 Etf and Et p Monthly ReportTRANSCRIPT
ETF & ETP February Update
London Stock Exchange Group Page 1
Leading European market: Turnover
London Stock Exchange Group Page 2
Source: Deutsche Bank ETF Annual Review 2013
Turnover figures are in million Euros
• London Stock Exchange ETF trading is the largest in Europe with 28.1% market
share in 2013
-
4,000
8,000
12,000
16,000
-
50,000
100,000
150,000
200,000
Number of Trades
Turnover (millions)
London ETF market growth
London Stock Exchange Group Page 3
• Total ETF/ETP annual on-exchange turnover for 2013 was £164 billion with 1.9 million trades, up 23%
compared to 2012
Highlights
London Stock Exchange Group Page 4
Listings
• 11 new ETFs were listed on London Stock Exchange in January 2014
• There are now 718 ETFs (available as 1,070 lines through multi-currency offerings) and 367
ETCs/ETNs (available as 416 lines) on our London market
Trading activity
• Total on-exchange value traded for ETFs in January 2014 was £12.6 billion, up by 8% compared to last year
• Total on-exchange value traded for other ETPs (ETCs and ETNs) in January 2014 was £1.2 billion, down by
66% compared to last year
• London Stock Exchange remains the leading exchange for fixed income ETFs, emerging market ETFs and
Exchange Traded Commodities (ETC) trading in Europe
Market coverage
• 23 registered market makers provide continuous pricing and a high quality pool of liquidity on our order-book
• In addition, more than 400 brokers and member firms from over 20 countries are connected to the London
Stock Exchange's order book and have access to trade ETFs
Top 10 Most Traded Products (Order book)
London Stock Exchange Group Page 5
Top 10 Most Actively Traded ETFs on London Stock Exchange (by Value Traded) January 2014
Instrument name TIDM Value traded (£) Number of
trades Volume traded Value traded (£) % of
market Number of trades %
of market Volume traded % of
market Average trade
size (£) Time weighted
average spread (bp)
ISHARES FTSE 100 UCITS ETF (INC) ISF 402,018,915 11,383 60,431,020 10.0% 12.9% 25.5% 35,317 3.9
ISHARES S&P 500 UCITS ETF (INC) IUSA 158,045,472 1,470 14,325,268 3.9% 1.7% 6.0% 107,514 5.3
ISHARES MSCI JAPAN EUR HEDGED UCITS ETF IJPE 140,880,598 1,497 4,561,337 3.49% 1.70% 1.92% 94,109 20
ISHARES S&P 500 UCITS ETF (INC) IDUS 125,731,683 1,201 11,443,362 3.1% 1.4% 4.8% 104,689 29.9
ISHARES MSCI EM UCITS ETF (INC) IEEM 125,024,928 1,948 5,562,145 3.1% 2.2% 2.3% 64,181 21.3
ISHARES EURO HIGH YLD CORP BND UCITS ETF IHYG 95,765,145 4,294 1,051,410 2.4% 4.9% 0.4% 22,302 14.6
ISHARES MSCI WORLD UCITS ETF (INC) IWRD 84,491,491 1,110 3,994,982 2.09% 1.26% 1.68% 76,118 18.2
VANGUARD S&P 500 UCITS ETF VUSD 82,093,587 1,526 3,910,811 2.03% 1.73% 1.65% 53,797 60.1
ISHARES FTSE 250 UCITS ETF MIDD 76,467,618 2,441 4,890,333 1.90% 2.77% 2.06% 31,326 16.2
VANGUARD FTSE 100 UCITS ETF VUKE 70,853,464 609 2,269,036 1.76% 0.69% 0.96% 116,344 8.1
Top 10 Most Actively Traded ETPs on London Stock Exchange (by Value Traded) January 2014
Instrument name TIDM Value traded (£) Number of
trades Volume traded Value traded (£) % of
market Number of trades %
of market Volume traded % of
market Average trade
size (£) Time weighted
average spread (bp)
ETFS PHYSICAL GOLD PHAU 115,954,970 1,334 1,575,150 24.3% 9.6% 0.3% 86,923 7.9
(GBS) SEC UND ZERO CPN NTS GBS 55,886,852 744 770,392 11.7% 5.4% 0.1% 75,117 11.9
DB PHYSICAL GOLD ETC XGLD 17,611,170 314 235,854 3.69% 2.26% 0.04% 56,087 23.6
ETFS ALL COMMODITIES £ DJ-UBSCI AIGC 16,178,069 289 2,057,493 3.39% 2.08% 0.35% 55,979 16.5
ETFS NATURAL GAS NGAS 16,086,544 819 202,241,914 3.37% 5.89% 34.27% 19,642 19.2
SOURCE PHYSICAL GOLD P-ETC CERTS SGLD 13,595,083 314 182,592 2.8% 2.3% 0.0% 43,296 15.9
ETFS PHYSICAL PLATINUM PHPT 11,849,041 396 141,411 2.48% 2.85% 0.02% 29,922 15.7
ETFS PHYSICAL SILVER PHAG 11,390,071 278 976,535 2.39% 2.00% 0.17% 40,971 17.6
ETFS DAILY LVG NATURAL GAS LNGA 10,843,524 1,877 342,259,139 2.27% 13.50% 58.00% 5,777 50.3
ETFS INDUSTRIAL METALS DJ-UBSCI AIGI 9,901,204 68 1,236,453 2.08% 0.49% 0.21% 145,606 23.6
Note: Time weighted average spread uses best bid and best offer prices from the order book
Top 10 Most Traded Products (On-exchange*)
London Stock Exchange Group Page 6
Top 10 Most Actively Traded ETFs on London Stock Exchange (by Value Traded) January 2014
Instrument name TIDM Value traded (£) Number of
trades Volume traded Value traded (£) % of
market Number of trades %
of market Volume traded % of
market Average trade
size (£) Time weighted
average spread (bp)
ISHARES FTSE 100 UCITS ETF (INC) ISF 884,970,938 16,643 132,721,856 7.0% 10.8% 19.6% 53,174 3.9
ISHARES EURO HIGH YLD CORP BND UCITS ETF IHYG 399,936,207 4,611 4,400,763 3.2% 3.0% 0.7% 86,735 14.6
VANGUARD S&P 500 UCITS ETF VUSD 360,684,041 1,669 17,279,990 2.86% 1.08% 2.56% 216,108 60.1
ISHARES S&P 500 UCITS ETF (INC) IDUS 355,967,788 1,450 32,231,903 2.8% 0.9% 4.8% 245,495 29.9
ISHARES MSCI EM UCITS ETF (INC) IEEM 353,526,981 3,064 15,884,942 2.8% 2.0% 2.3% 115,381 21.3
ISHARES S&P 500 UCITS ETF (INC) IUSA 310,298,601 4,061 28,192,892 2.5% 2.6% 4.2% 76,409 5.3
ISHARES $ HIGH YIELD CORP BND UCITS ETF IHYU 310,048,143 1,328 4,556,695 2.46% 0.86% 0.67% 233,470 20
ISHARES FTSE 250 UCITS ETF MIDD 298,357,391 4,821 19,023,387 2.36% 3.12% 2.81% 61,887 16.2
ISHARES MSCI JAPAN EUR HEDGED UCITS ETF IJPE 283,620,085 1,912 9,203,105 2.25% 1.24% 1.36% 148,337 20
ISHARES S&P 500 EUR HEDGED UCITS ETF IUSE 229,001,833 180 6,763,931 1.82% 0.12% 1.00% 1,272,232 17.7
Top 10 Most Actively Traded ETPs on London Stock Exchange (by Value Traded) January 2014
Instrument name TIDM Value traded (£) Number of
trades Volume traded Value traded (£) % of
market Number of trades %
of market Volume traded % of
market Average trade
size (£) Time weighted
average spread (bp)
ETFS PHYSICAL GOLD PHAU 253,352,690 1,836 3,444,283 21.2% 8.0% 0.4% 137,992 7.9
(GBS) SEC UND ZERO CPN NTS GBS 157,299,475 1,047 2,163,731 13.2% 4.6% 0.3% 150,238 11.9
ETFS COPPER COPA 137,451,879 161 6,573,905 11.50% 0.71% 0.82% 853,738 10.4
ETFS PHYSICAL SILVER PHAG 65,699,267 352 5,560,081 5.50% 1.54% 0.69% 186,646 17.6
ETFS PHYSICAL GOLD £ PHGP 64,811,530 2,050 880,198 5.42% 8.99% 0.11% 31,615 20.8
SOURCE PHYSICAL GOLD P-ETC CERTS SGLD 41,002,750 339 551,895 3.4% 1.5% 0.1% 120,952 15.9
ETFS ALL COMMODITIES £ DJ-UBSCI AIGC 33,839,627 318 4,298,127 2.83% 1.39% 0.53% 106,414 16.5
ETFS PHYSICAL PLATINUM PHPT 26,612,505 536 319,233 2.23% 2.35% 0.04% 49,650 15.7
(GBS) SEC UND ZERO CPN NTS GBSS 23,044,945 368 315,888 1.93% 1.61% 0.04% 62,622 14.4
DB PHYSICAL GOLD ETC XGLD 19,881,647 344 266,313 1.66% 1.51% 0.03% 57,795 23.6
Note: Time weighted average spread uses best bid and best offer prices from the order book
*Includes non-order book trades reported to the London Stock Exchange “on-exchange”
Trade Size Stats January
10 February 2014 London Stock Exchange Group Page 7
• Average on book trade size for ETFs was £127,418
• Average on book trade size for other ETPs was £47,023
New Products Listed in January
London Stock Exchange Group Page 8
TIDM Instrument name ISIN Code First trading date Currency
CHNA CSOP SOURCE FTSE CHINA A50 UCITS ETF IE00BGSHB123 2014.01.08 USD
UC71 UBS ETF-MSCI AUSTRALIA HDG TO GBP A-DIS IE00BD4TY907 2014.01.09 GBX
UC72 UBS ETF-MSCI AUSTRALIA HDG TO GBP A-ACC IE00BD4TYB29 2014.01.09 GBX
UC73 UBS ETF - MSCI USA HEGED TO GBP A-DIS IE00BD4TYH80 2014.01.09 GBX
UC74 UBS ETF - MSCI USA HEGED TO GBP A-ACC IE00BD4TYJ05 2014.01.09 GBX
RQFI DBXT HARVEST CSI300 INDEX UCITS ETF (DR) LU0875160326 2014.01.16 GBX
MPCX SOURCE MAN GLG CONT EURO ETF EUR IE00BGDWP215 2014.01.17 EUR
EMLI PIMCO EM ADV LOC BOND INCOME ETF IE00BH3X8336 2014.01.27 USD
EFIW SOURCE GOLDMAN SACHS EFI WORLD UCITS ETF IE00BFG1RG61 2014.01.27 USD
MEXI LYXOR UCITS ETF MSCI MEXICO FR0011614114 2014.01.28 USD
BBEM LYXOR UCITS ETF MSCI EM BEYOND BRIC FR0011637925 2014.01.28 USD
Product Growth
London Stock Exchange Group Page 9
0
20
40
60
80
100
120
140
160
180
200
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
ETFs
ETPs
Number of new listings year on year
Products by Issuer
London Stock Exchange Group Page 10
Issuer Number of ETFs Ranking
iShares 184 1
DB X-TRACKERS 159 2
UBS ETF 95 3
LYXOR 77 4
AMUNDI ETF 43 5
SSGA SPDR ETFS EUROPE I PLC 37 6
SOURCE PLC 36 7
HSBC ETFS PLC 26 8
POWERSHARES GLBAL FUNDS IRELAND PLC 15 9
GO UCITS ETF SOLUTIONS PLC 14 10
VANGUARD FUNDS PLC 9 11
OSSIAM 7 12
RBS MARKET ACCESS 6 13
PIMCO FIXED INCOME SOURCE ETFS 6 14
FIRST TRUST 3 15
FINEX FUNDS PLC 1 16
Total 718
Issuer Number of Other ETPs Ranking
ETF Securities 210 1
UBS AG 66 2
BOOST ETP 36 3
DB ETC 18 4
SOCIETE GENERALE 15 5
BARCLAYS BANK PLC 13 6
iShares 4 7
SOURCE PLC 4 8
CODEIS SECURITIES SA 1 9
Total 367
*Data as of February 2014
Issuer Turnover
London Stock Exchange Group Page 11
ETFs
Issuer Value traded (£) January
2014 Value traded % of market
January 2014 Ranking
iShares 8,770,907,593 69.5% 1
DB X-TRACKERS 779,079,493 6.2% 2
VANGUARD FUNDS PLC 713,928,109 5.7% 3
SSGA SPDR ETFS EUROPE 575,640,162 4.6% 4
Source 461,056,449 3.7% 5
HSBC ETFS PLC 434,221,098 3.4% 6
LYXOR 380,133,710 3.0% 7
GO UCITS ETF SOLUTIONS PLC 200,436,518 1.6% 8
PIMCO FIXED INCOME SOURCE ETFS PLC 163,164,735 1.3% 9
UBS 58,259,521 0.5% 10
AMUNDI ETF 36,159,967 0.3% 11
POWERSHARES GLBAL FUNDS IRELAND PLC 34,240,084 0.3% 12
FIRST TRUST GLOBAL FUNDS PLC 4,242,961 0.0% 13
OSSIAM LUX 4,205,232 0.0% 14
RBS MARKET ACCESS 514,271 0.0% 15
FINEX FUNDS PLC 37,024 0.0% 16
ETPs
Issuer Value traded (£) January
2014 Value traded % of market
January 2014 Ranking
ETF Securities 1,066,568,099 89.2% 1
Source 45,241,218 3.8% 2
DB ETC 37,726,989 3.2% 3
iShares 17,060,377 1.4% 4
BOOST ETP 13,844,696 1.2% 5
UBS AG 12,848,948 1.1% 6
CODEIS SECURITIES S.A. 1,657,962 0.1% 7
BARCLAYS BANK PLC 600,040 0.1% 8
SOCIETE GENERALE 68,972 0.0% 9
London Stock Exchange Group Page 12
Leading European market: Net New Assets
Source: BlackRock ETP landscape (January 2014)
• 7 out of the top 10 European ETPs ranked by YTD inflows were London Stock
Exchange-listed
Fixed Income ETFs - product range and turnover
Table: Deutsche Bank European ETF Market Monthly Monitor- January 2014
• With over 50% market share, LSE has by far the highest on-exchange turnover for
fixed income ETFs in Europe
• there are more than 125 fixed income ETFs listed on the LSE
Deutsche Börse LSE
Top 10 fixed income ETFs by monthly on-exchange turnover ( €million)
London Stock Exchange Group
London Stock Exchange Group Page 14
Leading European market: Commodity Products
London Stock Exchange ETC market has the highest turnover market share in on-
exchange ETC trading
Source: Deutsche Bank Europe Monthly ETF Market Review- January 2014
Turnover figures are in million Euros
Contact details
London Stock Exchange Group Page 15
Exchange Traded Products
London Stock Exchange
10 Paternoster Square
London EC4M 7LS
Tel: +44 (0)20 7797 3921