Investors in Europe seeking transparent and diversified exposures to asset classes, regions, or sectors have increasingly chosen Exchange Traded Funds (ETFs) in recent years. With annual growth of 23% since 2008, the European ETF industry had assets totalling €304bn spread across 2130 listings at the end of 2013. However, the perception remains that ‘market quality’ including attributes such as transparency and connectivity between markets is not commensurate with the growth in the asset base. Investors seeking best execution require price and volume transparency and the ability to easily transact across European borders.
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