After a strong January, the Spanish Exchange, (BME), has published its trading volumes for February of 2019, with the exchange yet again reporting a strong uptick in fixed income trading.
During the month of February, the fixed income segment managed to maintain high activity levels on the BME. Traded volume for the month was €28.75 billion, which, although by 13.9 per cent, is still a significant 85.3 per cent higher than that achieved in February 2018. Year-to-date, this represents a growth of 77.9 per cent.
The uptick in trading volumes comes despite a drop in new issues. Specifically, in February the number of new issues was 21,315 which is 65.9 per cent less than January and down 29.7 per cent year-on-year.
The outstanding balance for fixed income, however, managed to record gains on both a monthly and annual basis, increasing by 0.7 per cent from January and 1.6 per cent from February of 2018.
ETF and Equities Market Post Weak Performance on BME
Trading volume in the exchange-traded fund (ETF) segment of the BME, however, was not as strong in February, reaching €127 million. When measured against the previous month, this represents a drop of 37.4 per cent and a 68.4 per cent decline from the same month a year earlier.
As can be expected, the number of trades made in February in the ETF segment also fell to 4,627. Comparing this to the previous month, 16.9 per cent fewer traders were made in February, and 64.5 per cent less on a year-on-year comparison.
Taking a look at Equities, traded €32.32 billion in Equities in the month of February 2019. Similar to the ETF segment, this is a weaker result than that achieved in January by 22 per cent and in February 2018 by 30.6 per cent.
Contributing to this decline is the number of trades made in the month, which were considerably less. Specifically, the number of trades was 2.8 million, which represents a fall of 21.8 per cent month-on-month and 37 per cent from February 2018.
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