Tradeweb's US ETF notional hits record $134.6 billion in October

Tradeweb handled a record $134.6 billion of US ETF notional in October, up 50% from a year earlier.

Its European ETF marketplace traded EUR74.9 billion in October, 3% more than a year earlier. Automated Intelligent Execution (AiEX), Tradeweb's rules-based order tool, made up 96% of European tickets. As ETF Daily previously reported, AiEX handled 96% of European tickets in August.

For advisors, AiEX carried a record 37% of European notional in October versus 17% in the US, leaving European orders more likely to run through rules-based systems.

Commodity ETFs were net sold in Europe and fell to 4% of platform flow, half their share of the previous 12-month rolling average. Government bonds had the highest buy ratio among the top five categories at 62%, just ahead of Global Equities at 61%. North America Equities overtook Global Equities as the most heavily traded category, at EUR20 billion. Stock-based ETFs were 72% of platform ETF volume and bond-based 24%.

In the US, equities were 55% of notional and fixed income 41%. The Vanguard S&P 500 ETF was the most-traded US product for a 12th consecutive month, ahead of the iShares Russell 1000 Growth ETF. The iShares National Muni Bond ETF rose two places to third.

In Europe, the iShares Core S&P 500 UCITS ETF took the lead in October's top-10 list, having last appeared in August. The iShares Core MSCI World UCITS ETF slipped one place to second. The iShares Core Corporate Bond UCITS ETF was the only fixed income fund in the ranking, in fourth.