TLT - Tradeweb Exchange-Traded Funds Update - November 2023
2023-12-13 01:30:00 ET
Summary
- Trading activity on the Tradeweb European ETF marketplace reached EUR 53.5 billion in November, while the proportion of transactions processed via Tradeweb’s AiEX tool was 83.6%.
- Total consolidated U.S. ETF notional value traded in November reached USD 56 billion.
- As a percentage of total notional value, equities accounted for 54% and fixed income for 40%, with the remainder comprising commodity and specialty ETFs.
The following data is derived from trading activity on the Tradeweb Markets institutional European- and U.S.-listed ETF platforms.
European-Listed ETFs
Total traded volume
Trading activity on the Tradeweb European ETF marketplace reached EUR 53.5 billion in November, while the proportion of transactions processed via Tradeweb’s Automated Intelligent Execution (AiEX) tool was 83.6%.
Adam Gould, head of equities at Tradeweb, said: “Institutional ETF volumes on our European marketplace this November were the third highest for the year so far. We also saw a record proportion of volume traded through AiEX, reaching 22.3% of the overall platform flow, as clients continue to see the value in automating larger size tickets to implement their trading strategies and boost their competitive position.”
Volume breakdown
In November, commodities was the only ETF asset class where ‘sells’ exceeded ‘buys’ by eighteen percentage points, while equities and fixed income saw net buying.
Trading activity in equity-based ETFs rose to 58% of the total traded volume from 54% in the month prior. Similarly to October, North American Equities was the most heavily-traded ETF category, with EUR 11.6 billion in total notional volume.
Top ten by traded notional volume
Half of the top ten spots were occupied by fixed income products in November, with the iShares $ Treasury Bond 1-3yr UCITS ETF ranked first. The fund aims to reflect the return of the ICE U.S. Treasury 1-3 Year Bond Index.
Of the four equity funds ranked in the top ten, three of them invest in global stocks.
U.S.-Listed ETFs
Total traded volume
Total consolidated U.S. ETF notional value traded in November reached USD 56 billion.
Volume breakdown
As a percentage of total notional value, equities accounted for 54% and fixed income for 40%, with the remainder comprising commodity and specialty ETFs.
Top ten by traded notional volume
Seven of the top ten ETFs by traded notional volume were fixed income-based. The iShares iBoxx $ High Yield Corporate Bond ETF moved one place up from October to take November’s top spot, with last month’s top ETF, SPDR Bloomberg 1-3 Month T-Bill ETF, moving to second place.
Editor's Note: The summary bullets for this article were chosen by Seeking Alpha editors.
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Tradeweb Exchange-Traded Funds Update - November 2023