Consolidation needed in European ETF market

The European exchange traded fund business needs to consolidate onto fewer exchanges in order to rival the size of the US market, according to Michael John Lytle, director of marketing at ETF provider Source. Speaking at the Professional Pensions Investment Conference, sponsored by ETFM's sister title, in London, he said ETF providers should not trade products on multiple exchanges, but rather focus on fewer exchanges to create the deep liquidity needed to attract more institutional investors. Lytle said that spreading assets across multiple exchanges in Europe creates a dearth of liqui...