According to a study by Morgan Stanley, the European ETF market has overtaken the U.S. market in terms of the number of products for the first time. There are now 106 ETFs in Europe (168 including cross-listings), as opposed to 102 ETFs in the United States. In Deutsche Börse's XTF segment, investors can now trade 57 exchange-traded index funds, including ETFs on well-known benchmark indices like the DAX, Nemax 50, DJ Euro STOXX 50, FTSE 100 and DJ Industrial Average. During the first half of 2002, XTF reinforced its position as the European market leader, with a 49.2 percent share of the market.
The 14 new index funds that became tradable on Monday for the first time comprise the Dow Jones STOXX 600 sector indices Automobiles, Basic Resources, Chemicals, Construction, Cyclical Goods & Services, Energy, Financial Services, Food & Beverage, Industrial Goods & Services, Insurance, Media, Non-Cyclical Goods & Services, Retail and Utilities. They are issued by Indexchange AG.
Index funds on sector indices have further enhanced the attractiveness of the XTF product portfolio since the market was launched in April 2000. In the year 2002 alone, 34 index funds on four different sector-index families have been listed, including funds on sectors of the Dow Jones STOXX, FTSE and MSCI indices. Index funds on sector indices offer the investor a low-cost, simple way to invest in certain market sectors.
