Nearly half of all trading in European trackers -exchange-traded funds (ETFs)-- is conducted on Euronext’s NextTrack market, according to research from the pan-European exchange Euronext.
NextTrack was launched in January 2001 to list, trade and market ETFs, and now lists 50 of the instruments.
Euronext, which runs NextTrack, said the latest research confirmed its market leadership. “Euronext is well placed to build on this position in the future,” said the chairman of Euronext Jean-Francois Theodore.
During its first yearof operation , NextTrack has listed 50 trackers with a combined market capitalisation of E4.4 bn covering 43 of the leading geographical and sector indices.
Average daily turnover has increased to E89m in December 2001, representing 46% of the total European tracker market.