etf & etp march update · highlights london stock exchange group page 2 listings • 5 new etfs...

ETF & ETP March Update

London Stock Exchange Group

Highlights


Listings

• 5 new ETFs were listed on London Stock Exchange in February 2014

• There are now 698 ETFs (available as 1,052 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 February 2014 was £10.5 billion, up by 1% compared to last year

• Total on-exchange value traded for other ETPs (ETCs and ETNs) in February 2014 was £1.3 billion, down by

54% 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

Leading European market: Turnover


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


• Total ETF/ETP annual on-exchange turnover for 2013 was £164 billion with 1.9 million trades, up 23%

compared to 2012

Top 10 Most Traded Products (Order book)

London Stock Exchange Group Note: Time weighted average spread uses best bid and best offer prices from the order book

Top 10 Most Actively Traded ETFs on London Stock Exchange (by Value Traded) February 2014

Instrument name 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) 524,791,990 12,895 78,803,945 14.4% 16.5% 33.1% 40,697 3.8

ISHARES S&P 500 UCITS ETF (INC) 197,895,005 3,129 18,137,782 5.4% 4.0% 7.6% 63,245 5.1

ISHARES MSCI EM UCITS ETF (INC) 177,377,534 2,446 7,994,287 4.9% 3.1% 3.4% 72,517 17.5

ISHARES MSCI WORLD UCITS ETF (INC) 176,340,721 1,499 8,469,883 4.8% 1.9% 3.6% 117,639 13.0

ISHARES MSCI JAPAN EUR HEDGED UCITS ETF 94,110,760 1,501 3,272,628 2.6% 1.9% 1.4% 62,699 11.9

VANGUARD S&P 500 UCITS ETF 91,709,673 1,475 4,404,691 2.5% 1.9% 1.9% 62,176 11.0

ISHARES EURO HIGH YLD CORP BND UCITS ETF 82,965,992 1,962 914,720 2.3% 2.5% 0.4% 42,286 9.6

ISHARES FTSE 250 UCITS ETF 80,109,748 1,868 5,068,735 2.2% 2.4% 2.1% 42,885 16.2

ISHARES MSCI JAPAN UCITS ETF (INC) 58,235,950 646 8,364,200 1.6% 0.8% 3.5% 90,149 14.7

VANGUARD FTSE 100 UCITS ETF 56,392,946 534 1,814,376 1.5% 0.7% 0.8% 105,605 7.7

Top 10 Most Actively Traded ETPs on London Stock Exchange (by Value Traded) February 2014







average spread (bp)

ETFS PHYSICAL GOLD £ 132,967,472 1,839 1,740,581 27.9% 12.0% 0.4% 72,304 8.2

SOURCE PHYSICAL GOLD P-ETC CERTS 41,535,993 541 535,137 8.7% 3.5% 0.1% 76,776 13.7

(GBS) SEC UND ZERO CPN NTS 39,593,982 890 521,613 8.3% 5.8% 0.1% 44,488 12.7

ETFS PHYSICAL SILVER £ 19,492,997 621 1,601,690 4.1% 4.1% 0.3% 31,390 16.7

ETFS NATURAL GAS 18,100,888 1,294 206,917,213 3.8% 8.4% 42.3% 13,988 26.3

DB PHYSICAL GOLD ETC 14,193,337 225 182,775 3.0% 1.5% 0.0% 63,081 21.3

ETFS ALL COMMODITIES DJ-UBSCI 12,430,877 290 1,521,546 2.6% 1.9% 0.3% 42,865 15.8

ETFS COFFEE 11,371,242 863 9,109,818 2.4% 5.6% 1.9% 13,176 105.3

ETFS PHYSICAL PLATINUM 10,471,370 288 126,661 2.2% 1.9% 0.0% 36,359 15.3

ETFS INDUSTRIAL METALS DJ-UBSCI 9,506,770 76 1,220,997 2.0% 0.5% 0.2% 125,089 22.3

Top 10 Most Traded Products (On-exchange*)


Top 10 Most Actively Traded ETFs on London Stock Exchange (by Value Traded) February 2014







average spread (bp)

ISHARES FTSE 100 UCITS ETF (INC) 1,064,911,175 18,208 159,662,936 10.2% 13.3% 25.7% 58,486 3.8

ISHARES S&P 500 UCITS ETF (INC) 502,373,331 5,614 45,991,644 4.8% 4.1% 7.4% 89,486 5.1

ISHARES MSCI WORLD UCITS ETF (INC) 478,588,525 2,196 22,917,625 4.6% 1.6% 3.7% 217,936 13.0

ISHARES MSCI EM UCITS ETF (INC) 405,366,858 3,474 18,295,989 3.9% 2.5% 2.9% 116,686 17.5

ISHARES J.P. MORGAN $ EM BND UCITS ETF 387,281,929 1,190 5,944,622 3.7% 0.9% 1.0% 325,447 21.7

ISHARES FTSE 250 UCITS ETF 276,879,827 3,921 17,590,415 2.6% 2.9% 2.8% 70,615 16.2

ISHARES EURO HIGH YLD CORP BND UCITS ETF 257,590,562 2,273 2,827,080 2.5% 1.7% 0.5% 113,326 9.6

ISHARES MSCI JAPAN EUR HEDGED UCITS ETF 218,054,937 1,956 7,567,744 2.1% 1.4% 1.2% 111,480 11.9

VANGUARD S&P 500 UCITS ETF 201,251,299 2,878 9,650,961 1.9% 2.1% 1.6% 69,927 11.0

VANGUARD FTSE 100 UCITS ETF 180,300,144 2,192 5,823,787 1.7% 1.6% 0.9% 82,254 7.7

Top 10 Most Actively Traded ETPs on London Stock Exchange (by Value Traded) February 2014







average spread (bp)

ETFS PHYSICAL GOLD £ 247,337,785 3,745 3,234,908 18.4% 15.5% 0.5% 66,045 8.2

(GBS) SEC UND ZERO CPN NTS 180,228,412 1,382 2,401,174 13.4% 5.7% 0.4% 130,411 12.7

SOURCE PHYSICAL GOLD P-ETC CERTS 163,075,292 603 2,079,990 12.1% 2.5% 0.3% 270,440 13.7

ETFS COPPER 95,938,369 407 4,792,990 7.1% 1.7% 0.7% 235,721 12.5

ETFS INDUSTRIAL METALS DJ-UBSCI 81,613,637 105 10,562,453 6.1% 0.4% 1.6% 777,273 22.3

ETFS PHYSICAL SILVER £ 79,217,074 1,175 6,660,618 5.9% 4.9% 1.0% 67,419 16.7

ETFS PHYSICAL PLATINUM 50,009,015 393 596,415 3.7% 1.6% 0.1% 127,249 15.3

ETFS ALL COMMODITIES DJ-UBSCI 48,933,572 456 6,018,390 3.6% 1.9% 0.9% 107,310 15.8

ETFS PHYSICAL PALLADIUM 35,352,531 242 827,244 2.6% 1.0% 0.1% 146,085 22.8

ETFS NATURAL GAS 20,473,485 1,509 233,700,892 1.5% 6.2% 35.9% 13,568 26.3

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 February

5 March 2014 London Stock Exchange Group

• Average on book trade size for ETFs was £76,631

• Average on book trade size for other ETPs was £55,432

New Products February


TIDM Instrument name ISIN Code First trading date Currency

DSUS LYXOR DOUBLE SHORT 10Y US TREASURY USD FR0011607084 2014.02.14 USD

DSUK LYXOR DOUBLE SHORT 10Y UK GILTS GBP FR0011614031 2014.02.14 GBX

JGBS LYXOR DOUBLE SHORT 10Y JAPAN GOV BDS GBP FR0011614189 2014.02.14 GBX

SUKC SPDR BARCLAYS 0-5 YEAR GBP CORP BOND ETF IE00BCBJF711 2014.02.19 GBP

WLDU LYXOR UCITS ETF MSCI WORLD USD HEDGED FR0011669845 2014.02.25 USD

Product Growth


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


Issuer Number of ETFs Ranking

iShares 184 1

DB X-Trackers 159 2

Lyxor 81 3

UBS ETF 70 4

Amundi ETF 43 5

SSGA SPDR ETFS Europe 38 6

Source 36 7

HSBC ETFs 26 8

Powershares Global Funds 15 9

Go UCITS ETF Solutions 14 10

Vanguard 9 11

Ossiam 7 12

Pimco 6 13

RBS Market Access 6 14

First Trust 3 15

Finex 1 16

Total 698

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 13 6

iShares 4 7

Source 4 8

Codeis Securities 1 9

Total 367

*Data as of March 2014

Issuer Turnover (ETFs) February


February Issuer Breakdown (ETFs)

Issuer Value traded (£) Trades Volume Value traded %

of market Trades % of

market Volume % of

market Ranking

iShares 7,463,729,883 91,991 449,262,994 71.3% 67.3% 72.4% 1

DB X-Trackers 692,173,977 11,398 64,551,576 6.6% 8.3% 10.4% 2

Vanguard 459,025,667 7,431 18,331,440 4.4% 5.4% 3.0% 3

HSBC ETFS 448,594,029 6,902 37,419,436 4.3% 5.1% 6.0% 4

Source 441,967,907 3,482 8,987,028 4.2% 2.5% 1.4% 5

SSGA SPDR ETFS Europe 425,675,247 6,848 13,818,411 4.1% 5.0% 2.2% 6

Lyxor 196,895,440 2,479 15,721,255 1.9% 1.8% 2.5% 7

GO UCITS ETF Solutions 157,866,877 3,155 4,930,288 1.5% 2.3% 0.8% 8

Pimco 64,258,810 504 992,707 0.6% 0.4% 0.2% 9

Powershares Global Funds 52,202,755 1,225 4,536,252 0.5% 0.9% 0.7% 10

Amundi ETF 32,155,652 361 656,913 0.3% 0.3% 0.1% 11

UBS 25,977,926 658 939,755 0.2% 0.5% 0.2% 12

Ossiam 6,536,289 38 75,417 0.1% 0.0% 0.0% 13

RBS Market Access 2,461,221 53 111,078 0.0% 0.0% 0.0% 14

First Trust 1,199,260 113 67,212 0.0% 0.1% 0.0% 15

Total 10,470,720,940 136,638 620,401,762

Issuer Turnover (Other ETPs) February


February Issuer Breakdown (Other ETPs)

Issuer Value traded (£) Trades Volume Value traded %

of market Trades % of

market Volume % of

market Ranking

ETF Securities 1,098,564,297 20,075 645,777,388 81.8% 82.9% 99.1% 1

Source 170,359,936 626 2,248,067 12.7% 2.6% 0.3% 2

Boost ETP 26,015,784 1,899 715,962 1.9% 7.8% 0.1% 3

DB ETC 25,307,369 641 420,121 1.9% 2.6% 0.1% 4

iShares 20,003,625 860 1,466,694 1.5% 3.6% 0.2% 5

Barclays Bank 1,079,380 85 735,468 0.1% 0.4% 0.1% 6

UBS AG 688,218 17 692 0.1% 0.1% 0.0% 7

Codeis Securities 317,351 8 4,202 0.0% 0.0% 0.0% 8

Societe Generale 11,313 5 1,739 0.0% 0.0% 0.0% 9

Total 1,342,347,273 24,216 651,370,333


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 Weekly ETF Market Review February Week 8 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

• 75% of the European top 20 fixed income ETFs by assets are LSE listed

Deutsche Börse LSE

Top 10 fixed income ETFs by weekly on-exchange turnover ( €million)



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


Exchange Traded Products

London Stock Exchange

10 Paternoster Square

London EC4M 7LS

Tel: +44 (0)20 7797 3921

[email protected]

etf & etp march update · highlights london stock exchange group page 2 listings • 5 new etfs...

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