ETF and ETC market
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ETF and ETC market Pietro Poletto Head of ETFs London Stock Exchange Group PowerPoint PPT Presentation


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ETF and ETC market Pietro Poletto Head of ETFs London Stock Exchange Group. Content. ETFs & ETCs International Comparison Emerging markets ETFs: focus on Russian and Eastern Europe ETFs. Number of ETFs/ETCs listed on LSE. Total 259. ETC. ETF. Data Source: London Stock Exchange.

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ETF and ETC market Pietro Poletto Head of ETFs London Stock Exchange Group

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ETF and ETC market

Pietro Poletto

Head of ETFs London Stock Exchange Group


Content

ETFs & ETCs

International Comparison

Emerging markets ETFs: focus on Russian and Eastern Europe ETFs


Number of ETFs/ETCs listed on LSE

Total

259

ETC

ETF

Data Source: London Stock Exchange


ETFplus market: segments and classes of products

MTF

ETFplus

-

-

Structured ETFs

ETCs

Standard ETFs

-

OICR Indicizzati

Exchange-traded Commodities

Indexed UCITS

Structured UCITS

  • Class 1 (Bond Indices)

    • Government Bonds

    • Corporate Bonds

    • Monetary

  • Class 2 (Equity Indices)

    • Equity Italy - Europe

    • Equity USA

    • Equity Emerging Markets

    • Equity Sectors

    • Style

    • Real Estate - Private Equity

    • Fundamentals

  • Index Commodities

  • Cattle

  • Energy

  • Industrial Metals

  • Precious Metals

  • Agricultural Products

  • Class 1 (without leverage)

    • Buywrite – Covered Call

    • Short

  • Class 2 (with leverage)

    • Leveraged Long

    • Leveraged Short


Number of ETFs/ETCs listed on ETFplus

ETF e ETC admitted to listing since September 2002- as of March 31st 2008

Total

289

ETC

ETF STR

ETF

5

Data Source: Borsa Italiana S.p.A.

Data source: Borsa Italiana S.p.A.


ETFs and ETCs Issuer Breakdown (by Parent Company) - LSE

ETF

iShares – BGI59 ETF

Lyxor - Société Générale29 ETF

db x-trackers - Deutsche Bank29 ETFPowerShares – Invesco(November 2007)13 ETF

SPA ETF(January 2008)6 ETF

ETC

Gold Bullion Securities 1 ETC

ETF Securities 122 ETC

36

5

20

7

41

63

Data Source: London Stock Exchange


ETFs and ETCs Issuer Breakdown (by Parent Company) - ETFplus

ETF

iShares – BGI80 ETF

Lyxor - Société Générale70 ETF

db x-trackers - Deutsche Bank57 ETFPowerShares – Invesco(November 2007)13 ETF

EasyETF - AXA/BNP Paribas 7 ETF

SPDR e Beta - Crédit Agricole 5 ETF

SPA ETF(January 2008)6 ETF

SGAM(February 2008)3 ETF

JP Morgan(November 2007)1 ETF

ETC

Gold Bullion Securities 1 ETC

ETF Securities46 ETC

36

5

20

7

41

63

Data Source: Borsa Italiana S.p.A.


Turnover

Daily Average (Mln GDP)

N. trades

Daily Average

LSE - trades and turnover

Daily AverageN. of Trades

2007: 1,469

March 2008: 3,806

Daily Average Turnover

2007: £104.5 mln

March 2008: £253.8 mln

Data Source: London Stock Exchange


Turnover

Daily Average (Mln eur)

N. trades

Daily Average

ETFplus – trades and turnover

March 2008

highest daily average turnover

Daily AverageN. of Trades

2007: 5,406

March 2008: 6,228 +45% Y/Y

Daily Average Turnover

2007: 126.9 Mln

March 2008: 199.4 Mln +55% Y/Y

Data Source: Borsa Italiana S.p.A.

Data source: Borsa Italiana S.p.A.


ETFplus:most traded ETFs - Turnover (first quarter 2008)

Data Source: Borsa Italiana S.p.A.


ETFplus: most traded ETFs - Contracts (first quarter 2008)

Data Source: Borsa Italiana S.p.A.


Content

ETFs & ETCs

International Comparison

Emerging markets ETFs: focus on Russian and Eastern Europe ETFs


WORLD 20071,171 ETFs (+64%)AUM 797 bn$ (+41%)

423 ETFs

AUM 128 bn$

+ 43,1%

601 ETFs

AUM 581 bn$

+ 42,7%

Turnover in US is 90% on exchange, in UE 50% on exchange (the remaining 50% is OTC).

ETF’s in USA are listed in 4 exchanges; ETFs in UE are listed in 18 exchanges.

Data source: Morgan Stanley “Exchange Traded Funds – Year End 2007 Global Industry Review


NUMBER OF CONTRACTS

  • Exchan.

  • Feb 07 –

  • Feb 08

  • 1,706,793

  • LSEG

  • Euronext

  • 926,927

  • Deutsche Boerse

  • 659,093

  • 416,113

  • OMX

  • SWX

  • 201,771

  • Others*

  • 21,161

  • TOTAL

  • 3,931,858

European Exchanges: market share (contracts)

*Irish stock exch., Wiener Boerse

Data source: FESE and London Stock Exchange


TURNOVER (mln €)

  • Exchan.

  • Feb 07 – Feb 08

  • Deutsche Boerse

  • 125,848

  • Euronext

  • 99,212

  • LSEG

  • 60,442

  • 16,004

  • SWX

  • 8,715

  • OMX

  • 7,671

  • Others*

  • TOTAL

  • 317,893

European Exchanges: market share (Turnover)

*BME, Irish stock exch., Wiener Boerse

Data source: FESE and London Stock Exchange


European Exchanges: average contract size, number of contracts and turnover

AVERAGE CONTRACT SIZE (in mln €)

  • Exchan.

  • Feb 07 – Feb 08

19,71%

  • Deutsche Boerse

  • 190,941

  • Euronext

  • 107,033

  • 107,808

  • LSE

25,43%

Borsa Italiana

  • SWX

  • 79,320

44,23%

  • Borsa Italiana

  • 24,958

  • 20,943

  • OMX

OMX

  • 79,326

  • TOTAL

4,13%

The bubble size is proportional to the average contract size

Data source: FESE and LSE


Lyxor ETF EuroMTS 1-3 Y (tot 867.2 Mln €)

PowerShares EQQQ (Tot 594.3 Mln €)

Multilisted ETFs: Borsa Italiana market share - the most significant examples (Aug 07 – Feb 08)

Lyxor ETF India (Tot 1393.6 Mln €)

iShare MSCI Brazil (Tot 1451.9 Mln €)

Data Source: Deutsche Boerse


Content

ETFs & ETCs

International Comparison

Emerging markets ETFs: focus on Russian and Eastern Europe ETFs


ETFs trades on ETFplus – distribution by asset class (April 2007 – March 2008)

NUMBER OF CONTRACTS

  • Asset class

  • Apr 07 – Mar 08

  • 690,580

  • Emerging markets

  • Developed makets

  • 377,808

  • Bonds

  • 80,813

  • 71,22

  • Others

  • Style

  • 56,230

Italian Investors are focused

on Emerging markets ETFs

  • TOTAL

  • 1,276,658

Data source: Borsa Italiana S.p.A.


Italian most traded Emerging markets ETFs - Contracts (April 2007 – March 2008)

Data source: Borsa Italiana S.p.A.


Focus on Russia and Eastern Europe ETFs

International Monetary Fund says Russian and Eastern Europe GDP in 2008 is expected to grow by respectively 6.5% and 5.2%*

Exploit this opportunity investing on the

following ETFs available

on the ETFplus market:

*World Economic and financial surveys – World economic outlook (October 2007)


Russia and Eastern Europe ETFs turnover, trades (April 2007 – March 2008) and AUM in Italy (end of March 2008)

* Listed only starting from March 14th 2008

Russia and Eastern Europe ETFs represent the 4% of the contracts and the 1.8% of the turnover of the whole Italian ETF market

Data source: Borsa Italiana S.p.A.


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