Deutsche Brse has been voted the “most innovative exchange” for exchange traded funds (ETFs) by market participants as part of International Fund Investment Magazine’s second annual European ETF Awards. Deutsche Brse also won awards in two further categories – “Largest exchange for ETFs in Europe” and “Exchange with the largest number of listed ETFs in Europe.”
The awards are the result of an industry vote by a wide range of market participants including professional investors, market makers, issuers, index providers and exchanges. Deutsche Brse is the leading exchange in Europe for ETFs: over 57 percent of all ETF trading in Europe takes place in Deutsche Brse’s XTF segment.
“We are delighted to receive these awards as they show our customers’ appreciation of Deutsche Brse’s service offering in the ETF market,” said Rainer Riess, Head of Stock Market Business Development and responsible for the XTF segment. “Through the introduction of our XTF segment and innovative new products such as fixed-income ETFs and futures and options on ETFs we have helped introduce European investors to a whole new asset class.”
Deutsche Brse’s XTF segment for exchange traded funds continues to grow. In January 2004 exchange turnover in XTF reached 3.3 billion euros, up 27 percent on January 2003 (2.6 billion euros), with a daily average volume of 157.5 million euros. A total of 37.2 billion euros was traded in XTF in 2003, a 17 percent increase on the 2002 trading volume (31.7 billion euros). This figure represents approximately 57 percent of the total European trading volume in ETFs. The total number of ETF transactions in 2003 rose by 31 percent from 370,833 in 2002 to 485,896. Assets under management in the XTF segment came to 9.8 billion euros at the end of 2003, up 92 percent from 5.1 billion euros at the end of 2002.