- "Most innovative exchange";
- "Most widely used European exchange" (by turnover and volume in 2002).
Resulting from the vote of a wide and significant range of people involved in the European tracker industry (professional investors, market makers, index providers, issuers and exchanges) and from statistical informations, the granting of these awards is a new occasion to state that Euronext's dedicated segment for trackers, NextTrack, is performing well and at the forefront of the fast-growing European tracker market as Europe's leading exchange.
Over the year 2002, Euronext has indeed demonstrated its ability to consolidate a highly effective tracker market place, with a 94.4% growth in average daily turnover on the previous year, and an increase of 106% in the total number of transactions.
And the activity on Nexttrack is still growing: on the first quarter of 2003, the number of transactions registered on NextTrack segment has already increased by 111% compared to the first quarter of 2002, and of 18% compared to the last quarter of 2002; as well as a growth of 32% has been observed in turnover at the end of March 2003 compared to last year.
As of today, NextTrack lists 63 trackers, 50% of the number of trackers listed in Europe, that are available on 55 different underlying indices.
A ceremony during which the ETF Awards will be handed out to Euronext will take place next 27 May in Paris.
Trackers, or Exchange Traded Funds (ETF), are index funds that replicate the performance of an index or a basket of shares. They ally the advantages of shares (simplicity, continuous quotation), to those of the traditional funds (access to a vast choice of shares, geographic and sector-based diversifications).
NextTrack is the market segment dedicated to trackers launched by Euronext in January 2001 on which 63 trackers are listed. It is a successful achievement with a 68% market share in assets under management in Europe, and a 46.6% European market share in turnover over the year 2002. The total number of transactions on trackers in 2002 was 362,646, up 106% on the previous year and the average daily turnover of €129 million in 2002 is up 94.4% on 2001. Euronext is the European leader for listing and trading trackers over the year 2002.
Euronext
Euronext was formed by the merger of the Amsterdam, Brussels and Paris cash and derivatives exchanges in September 2000. The Euronext Group has since grown further, adding BVLP (the Portuguese cash and derivatives exchange) and LIFFE (The London International Financial Futures and Options Exchange). In 2002 Euronext is leader in Europe for the value of equity trades, and number two worldwide in derivatives by the number of contracts traded and the value of trades (www.euronext.com).
