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Tradeweb Exchange-Traded Funds Update – October 2020

| Equities

The following data is derived from trading activity on the Tradeweb Markets institutional European- and U.S.-listed ETF platforms.


Total traded volume
Notional volume executed on the Tradeweb European-listed ETF marketplace reached EUR 32.8 billion in October.

Adriano Pace, head of equities (Europe) at Tradeweb, said: “In October we saw more than 53,900 transactions in European-listed ETFs, our highest number since March, when platform activity exceeded EUR 80 billion. Three-quarters of these transactions were completed via our Automated Intelligent Execution (AiEX) tool, in line with recent months.”

Volume breakdown
Trading activity in fixed income ETFs increased to 38% of the overall platform flow in October, beating the previous 12-month rolling average by three percentage points. ‘Sells’ in the asset class narrowly surpassed ‘buys’ in contrast to equity- and commodity-based ETFs, which saw net buying during the month. North America Equities proved to be the most heavily-traded ETF category, closely followed by Europe Equities and Corporate Bonds.

Top ten by traded notional volume
Fixed income products dominated October’s top ten list by traded notional volume, with the iShares $ Corporate Bond UCITS ETF moving up one place from September to be ranked first.


Total traded volume
Total consolidated U.S. ETF notional value traded in October 2020 amounted to USD 17.2 billion.

Volume breakdown
As a percentage of total notional value, equities accounted for 50% and fixed income for 48%, with the remainder comprising commodity and specialty ETFs. The proportion of U.S. ETF trades executed on the platform via the Tradeweb AiEX tool was 42%.

Adam Gould, head of U.S. equities at Tradeweb, said: “Our institutional U.S. ETF platform continued to grow in October amid ongoing client adoption and equity market volatility. Total traded volume was up 92% year over year, and we saw average block trade size increase to USD 9.5 million.”

Top ten by traded notional volume
During the month, 733 unique tickers traded on the Tradeweb U.S. ETF platform. In first place, the iShares Core MSCI Emerging Markets ETF re-entered the top ten list by traded notional volume for the first time since January 2020.