This report provides an overview of the United Kingdom's Exchange Traded Funds (ETFs) and Exchange Traded Products (ETPs) industry, as at end year end 2010.
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Assets increased 49.0% in 2010 in ETFs/ETPs with their primary listing in the United Kingdom to US$93.4 Bn, which is more than the 5.2% increase in the
FTSE 100 Index in US dollar terms over the same period.
The number of ETFs/ETPs increased 77.5% in 2010, from 293 primary listings in 2009 to 520 at year end 2010.
11 new providers listed their first ETF/ETP in the United Kingdom in 2010.
The average daily reported trading volume increased 24% in US dollar terms in 2010 for all United Kingdom listed ETFs/ETPs to US$550.4 Mn, compared to US$445.3 Mn at the end of 2009. Most ETF trades are not required to be reported in Europe as ETFs are not covered by the European Union Directive on Markets in Financial Instruments (MiFID).
The first ETF in the United Kingdom was listed on the London Stock Exchange’s Main Market in April 2000. This was followed by steady growth in the number of funds listed, but it was not until the abolition of stamp duty on ETFs incorporated overseas in February 2007, that this already flourishing market transformed into a leading European centre for ETFs.