The number of exchange-traded funds (ETFs) listed on the Borsa Italiana has surpassed 300 for the fi...
The number of exchange-traded funds (ETFs) listed on the Borsa Italiana has surpassed 300 for the first time. The listing of seven new ETFs in mid-February boosted the number of ETFs on the ETFplus platform to over 300, along with the 47 exchange-traded commodities that are listed.
The Borsa Italiana also claimed first place among European exchanges for electronic trading in ETFs in 2008, followed by Euronext and Deutsche Borse, according to the Federation of European Securities Exchanges (FESE).
Borsa Italiana's ETFplus director Pietro Poletto said: "Thanks to their unique advantages, ETFs are attracting more and more interest from both institutional and retail investors seeking efficient exposure to a range of asset classes."
He added: "Reaching 300 listed ETFs represents a milestone for the market and demonstrates the leading role being played by Borsa Italiana in the development of the ETF market on an international level."
By the end of last year, total ETF assets under management amounted to €10.4bn despite the turbulent economic climate, increasing from €10bn achieved by the end of 2007. The total value of ETFs traded on ETFplus increased from €1.5bn in 2003 to €48bn in 2008. The most heavily traded ETF between January and February 20 this year was the Lyxor ETF Euro Cash, which reaped a turnover of €632m.
The ETF market in Italy is also characterised by strong participation among retail investors, with average size ETF trades of €33,968 on Borsa Italiana in 2008, compared with €103,824 on Deutsche Borse.
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