ETF & ETP

February Update

London Stock Exchange Group

Page 1

Leading European market: Turnover

London Stock Exchange ETF trading is the largest in Europe with 28.1% market
share in 2013

Source: Deutsche Bank ETF Annual Review 2013

Turnover figures are in million Euros
London Stock Exchange Group

Page 2

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

200,000

16,000

Number of Trades
150,000

Turnover (millions)

12,000

100,000

8,000

50,000

4,000

London Stock Exchange Group

Page 3

Highlights
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

London Stock Exchange Group

Page 4

Top 10 Most Traded Products (Order book)

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

Value traded ()

Number of
trades

Volume traded

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

Instrument name

Value traded () % of Number of trades % Volume traded % of Average trade

market
of market
market
size ()

Time weighted
average spread (bp)

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

ETFS PHYSICAL GOLD

PHAU

115,954,970

1,334

1,575,150

24.3%

(GBS) SEC UND ZERO CPN NTS

GBS

55,886,852

744

770,392

11.7%

DB PHYSICAL GOLD ETC

XGLD

17,611,170

314

235,854

3.69%

ETFS ALL COMMODITIES DJ-UBSCI

AIGC

16,178,069

289

2,057,493

3.39%

ETFS NATURAL GAS

NGAS

16,086,544

819

202,241,914

3.37%

SOURCE PHYSICAL GOLD P-ETC CERTS

SGLD

13,595,083

314

182,592

ETFS PHYSICAL PLATINUM

PHPT

11,849,041

396

ETFS PHYSICAL SILVER

PHAG

11,390,071

278

ETFS DAILY LVG NATURAL GAS

LNGA

10,843,524

ETFS INDUSTRIAL METALS DJ-UBSCI

AIGI

9,901,204

London Stock Exchange Group

Value traded () % of Number of trades % Volume traded % of Average trade

market
of market
market
size ()
9.6%

Time weighted
average spread (bp)

0.3%

86,923

7.9

5.4%

0.1%

75,117

11.9

2.26%

0.04%

56,087

23.6

2.08%

0.35%

55,979

16.5

5.89%

34.27%

19,642

19.2

2.8%

2.3%

0.0%

43,296

15.9

141,411

2.48%

2.85%

0.02%

29,922

15.7

976,535

2.39%

2.00%

0.17%

40,971

17.6

1,877

342,259,139

2.27%

13.50%

58.00%

5,777

50.3

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

Page 5

Top 10 Most Traded Products (On-exchange*)

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 Number of trades % Volume traded % of Average trade

market
of market
market
size ()

ISHARES FTSE 100 UCITS ETF (INC)

ISF

884,970,938

16,643

132,721,856

ISHARES EURO HIGH YLD CORP BND UCITS ETF

IHYG

399,936,207

4,611

4,400,763

3.2%

3.0%

VANGUARD S&P 500 UCITS ETF

VUSD

360,684,041

1,669

17,279,990

2.86%

1.08%

7.0%

10.8%

19.6%

Time weighted
average spread (bp)

53,174

3.9

0.7%

86,735

14.6

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 Number of trades % Volume traded % of Average trade

market
of market
market
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

London Stock Exchange Group

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

Page 6

Trade Size Stats January

Average on book trade size for ETFs was 127,418

Average on book trade size for other ETPs was 47,023

London Stock Exchange Group 10 February 2014

Page 7

New Products Listed in January

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

London Stock Exchange Group

Page 8

Product Growth

200
180

Number of new listings year on year

160
140

120
ETFs
ETPs

100
80
60
40
20
0
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
London Stock Exchange Group

Page 9

Products by Issuer
Issuer
iShares
DB X-TRACKERS
UBS ETF
LYXOR
AMUNDI ETF
SSGA SPDR ETFS EUROPE I PLC
SOURCE PLC
HSBC ETFS PLC
POWERSHARES GLBAL FUNDS IRELAND PLC
GO UCITS ETF SOLUTIONS PLC
VANGUARD FUNDS PLC
OSSIAM
RBS MARKET ACCESS
PIMCO FIXED INCOME SOURCE ETFS
FIRST TRUST
FINEX FUNDS PLC
Total

Number of ETFs
184
159
95
77
43
37
36
26
15
14
9
7
6
6
3
1
718

Ranking
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16

Issuer
ETF Securities
UBS AG
BOOST ETP
DB ETC
SOCIETE GENERALE
BARCLAYS BANK PLC
iShares
SOURCE PLC
CODEIS SECURITIES SA
Total

Number of Other ETPs

210
66
36
18
15
13
4
4
1
367

Ranking
1
2
3
4
5
6
7
8
9

London Stock Exchange Group

*Data

as of February 2014

Page 10

Issuer Turnover

Issuer

ETFs
Value traded () January
2014

Value traded % of market

January 2014

Ranking

iShares
DB X-TRACKERS
VANGUARD FUNDS PLC
SSGA SPDR ETFS EUROPE
Source
HSBC ETFS PLC
LYXOR
GO UCITS ETF SOLUTIONS PLC
PIMCO FIXED INCOME SOURCE ETFS PLC
UBS
AMUNDI ETF
POWERSHARES GLBAL FUNDS IRELAND PLC
FIRST TRUST GLOBAL FUNDS PLC
OSSIAM LUX
RBS MARKET ACCESS
FINEX FUNDS PLC

8,770,907,593
779,079,493
713,928,109
575,640,162
461,056,449
434,221,098
380,133,710
200,436,518
163,164,735
58,259,521
36,159,967
34,240,084
4,242,961
4,205,232
514,271
37,024

69.5%
6.2%
5.7%
4.6%
3.7%
3.4%
3.0%
1.6%
1.3%
0.5%
0.3%
0.3%
0.0%
0.0%
0.0%
0.0%

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16

Issuer

ETPs
Value traded () January
2014

Value traded % of market

January 2014

Ranking

ETF Securities
Source
DB ETC
iShares
BOOST ETP
UBS AG
CODEIS SECURITIES S.A.
BARCLAYS BANK PLC
SOCIETE GENERALE

1,066,568,099
45,241,218
37,726,989
17,060,377
13,844,696
12,848,948
1,657,962
600,040
68,972

89.2%
3.8%
3.2%
1.4%
1.2%
1.1%
0.1%
0.1%
0.0%

1
2
3
4
5
6
7
8
9

London Stock Exchange Group

Page 11

Leading European market: Net New Assets

7 out of the top 10 European ETPs ranked by YTD inflows were London Stock
Exchange-listed

Source: BlackRock ETP landscape (January 2014)

London Stock Exchange Group

Page 12

Fixed Income ETFs - product range and turnover

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

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

LSE

Deutsche Brse

Table: Deutsche Bank European ETF Market Monthly Monitor- January 2014

London Stock Exchange Group

Leading European market: Commodity Products

London Stock Exchange ETC market has the highest turnover market share in onexchange ETC trading

Source: Deutsche Bank Europe Monthly ETF Market Review- January 2014
Turnover figures are in million Euros

London Stock Exchange Group

Page 14

Contact details

Exchange Traded Products

London Stock Exchange

10 Paternoster Square
London EC4M 7LS
Tel: +44 (0)20 7797 3921
etfs@lseg.com

London Stock Exchange Group

Page 15