The share of EU-domiciled ETFs listed on the London Stock Exchange (LSE) slid in the twelve months to June 2024, according to a report from PwC, with Deutsche Boerse becoming Europe’s largest exchange for ETFs.
At the end June 2024, 2,148 EU-domiciled ETFs were listed on the LSE, a year-on-year increase of just 0.4%, as the below chart shows.
Chart 1: Listed number of EU-domiciled ETFs by exchange, end June 2024
Source: European ETF Listing and Distribution report, PwC
Deutsche Boerse, SIX Swiss Exchange, Euronext and Borsa Italiana enjoyed much healthier growth rates over the period, with Deutsche Boerse overtaking the LSE as Europe’s largest ETF exchange.
As to why, Stephan Kraus, head of ETF & ETP at Deutsche Boerse, told ETF Stream: “We have the broadest product range and highest turnover, which is a key criteria for issuers because they want to understand the distribution power an exchange can bring.”
“We’ve also been very supportive during the listing process itself – the five or six day listing process is one of the fastest in the industry – and of course fees need to be competitive,” he added.
The LSE share of listings among the big five slipped 24.6% to 23.2% in the twelve months to end June 2024.
While the number of ETF listings stagnated over the period, the group pointed to improved trading conditions. In 2024 to the end of October, £137.7bn of total ETP orderbook value has traded - a 24% increase year-on-year.
