Cross-listing in the European ETP market

Stefano Alderighi ()
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Stefano Alderighi: World Federation of Exchanges; Department of Economics, University of Essex

Economics Bulletin, 2020, vol. 40, issue 1, 35-40

Abstract: The European ETP market is the second largest in the world and presents a unique structure, characterised by high levels of cross-listings across multiple jurisdictions. This paper estimates the extent of cross-listing in the European ETP market, finding that roughly 88% of the instruments listed in Europe are cross-listed on more than one exchange, accounting for 98% of the total market capitalisation. This result calls for further investigation of the European ETP market structure, in particular on the topics of price formation and fragmentation/best execution.

Keywords: ETPs; Cross-listing; Price discovery; Best execution (search for similar items in EconPapers)
JEL-codes: G1 (search for similar items in EconPapers)
Date: 2020-01-06
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Citations: View citations in EconPapers (3)

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