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Pietro Poletto, Head of Fixed Income and ETF, London Stock Exchange Group

Borsa Italiana – Best European Exchange for Listing ETFs

The Italian ETF market was launched in September 2002 when, in a dedicated segment of the Stock Market, trading started on the first passive funds which replicated the performance of the biggest European blue chip indexes.

So great was the success of these instruments, year after year, that in April 2007 it led to the creation of a new market: ETFplus, an environment solely dedicated to ETFs, structured ETFs, active ETFs and ETCs/ETNs. Thanks to its advanced and efficient infrastructure, this electronic market enables investors to access the real-time trading of hundreds of financial instruments easily and transparently.
Today, ETFplus continues to grow, confirming its status as an international centre for the trading of ETFs. In 2013 the Italian ETF market confirmed its leadership in Europe for number of trades on electronic platforms with a market share of 28.55 per cent (it has held the lead ranking since 2005). There were 11,058 average daily trades recorded on Borsa Italiana, putting it ahead of Deutsche Borse (8,586 trades) and Euronext (6,705 trades).
In addition, Borsa Italiana became the third Exchange in Europe for turnover traded on an electronic platform, overtaking Euronext.
Total ETF AuM deposited in Italy set a new historical record by the end of 2013, reaching EUR24.84bn; a 36.7 per cent increase on 2012. Factor in an additional EUR1.89bn of ETC/ETN AuM and overall AuM for 2013 came to EUR26.73bn.
In 2013, Borsa Italiana welcomed 125 new instruments (110 ETFs and 15 ETCs/ETNs) and a new issuer: Boost Issuer plc, which launched on the market the first triple leverage ETNs on equity indices and the first triple leveraged ETCs. These new instruments bring the total number of instruments listed on the ETFplus market to 835 (658 ETFs and 177 ETCs/ETNs).
The increasing number of instruments on the ETFplus market offers investors access to a wide range of products and a transparent and liquid market. The product range now available includes 209 developed market ETFs, 95 emerging market ETFs, 156 bond ETFs, 36 Style ETFs, 162 sector and thematic ETFs and 159 ETCs and 18 ETNs, from 11 separate issuers.
On winning the award this year, Pietro Poletto (pictured), Head of Fixed Income and ETF, London Stock Exchange Group comments: “We are pleased to receive the prize for the ‘Best European Exchange for Listing ETFs,’ which confirms that our strength in this market is recognised by the international financial community. ETFs, ETCs and ETNs are achieving great success on the Italian market, with 2013 seeing a record year for Borsa Italiana. We are the first Exchange in Europe for the number of trades on an electronic platform and the third for turnover traded.
“In 2013, the instruments listed on ETFplus market amassed EUR5.66bn of inflows, representing 42 per cent of total European inflow and setting a new record for the Italian market.”

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