On April 11, 2000, the first two exchange-traded funds (ETF) based on the EURO STOXX 50 and the STOXX Europe 50 were listed on Deutsche Börse in Germany. With this listing, Merrill Lynch International brought a product to Europe which had been established in the U.S. since 1993. In addition to Germany, the trading of ETFs also began in Sweden, Switzerland, and the U.K. over the course of the year 2000. Even as the first reactions to these new products were positive, no one at that time really expected the future success that ETFs would experience. The following is a

On April 11, 2000, the first two exchange-traded funds (ETFs) based on the EURO STOXX 50 and the STOXX Europe 50 were listed on Deutsche Boerse in Germany. With this listing, Merrill Lynch International brought a product to Europe which had been established in the U.S. since 1993. In addition to Germany, the trading of ETFs also began in Sweden, Switzerland, and the U.K. over the course of the year 2000. Even as the first reactions to these new products were positive, no one at that time really expected the future success that ETFs would experience. The following is a

On April 11, 2000, the first two exchange-traded funds (ETFs) based on the EURO STOXX 50 and the STOXX Europe 50 were listed on Deutsche Börse in Germany. With this listing, Merrill Lynch International brought a product to Europe which had been established in the U.S. since 1993. In addition to Germany, the trading of ETFs also began in Sweden, Switzerland, and the U.K. over the course of the year 2000. Even as the first reactions to these new products were positive, no one at that time really expected the future success that ETFs would experience. The following is a

  The promoters of ETFs in Europe enjoyed net inflows for October. Since the inflows were rather small, they couldn’t offset the negative performance of the underlying markets, which led to decreased assets under management in the European ETF industry. In more detail, the assets under management in the European ETF industry decreased from €679.6 bn as of September 30, 2018, to €657.1 bn at the end of October. The decrease of €22.4 bn for October was driven by the performance of the underlying markets (-€23.2 bn), while net sales contributed inflows of €0.7 bn to assets under management in

After the announcement on July 3, 2018, of the takeover of the Commerzbank Equities Markets and Commodities (EMC) unit by Societe Generale, some market observers are speaking about possible further consolidation in the European ETF industry. There are also concerns that the concentration of the market is increasing further, since this takeover means that ComStage (the ETF promoter of Commerzbank) might now become integrated into Lyxor ETF (the ETF promoter of Societe Generale). But are these fears of increasing concentration actually justified, and is the European ETF industry really in a consolidation mode? At first look both assumptions seem to

The European exchange-traded fund (ETF) industry has truly written a growth story over the last 16 years. The steadily increasing assets under management have led to a number of discussions about the impact of the ETF industry on the markets. Some market observers have raised concerns about the markets covered by ETFs, especially in the bond segment, since a number of bonds—even though they are in a benchmark— do not have sufficient liquidity to be traded in huge quantities. Even though the liquidity issue is valid, ETF promoters in Europe have found ways to overcome this limitation with so-called optimized