03.02.2023

2022 ECMI Statistical Package - Key findings

Published in: 
Research Reports
Author(s): 
Apostolos Thomadakis, Danielle Pintacasi

Offering a comprehensive collection of the most relevant data on various segments of European and global capital markets, the ECMI Statistical Package enables users to trace trends so as to highlight the ongoing transformation of capital markets, including the structural changes brought about by competitive forces, innovation and regulation. It represents an important step towards overcoming the existing data fragmentation on the evolution of European capital markets by offering a ‘one-stop-shop’ for market participants, regulators, academics and students. The 2022 version contains data on equity markets, debt securities, securitisation, covered bonds, exchange-traded and over-the-counter derivatives, asset management, mutual funds, insurance companies and pension funds, and global comparative data.

Highlights

Equity market

  • The market capitalisation of listed companies in the EU-27 increased by 25 % in 2021.
  • The capital raised through initial public offerings increased fourfold in 2021 to EUR 51 billion.
  • The number of listed exchange-traded funds (ETFs) in the EU-27 rose by 18 % to 9 290, but the total value of ETF trading declined by 3 % to EUR 486 billion.

Debt securities

  • The global amount of outstanding debt securities saw an increase in 2021, totalling EUR 110 trillion.
  • Notional amounts of outstanding debt in the EU-27 rose in terms of value (+6 %) but fell in terms of GDP share (standing at 166 %, down five percentage points).
  • The issuance of securitised products rose 20 % to EUR 233 billion in the EU-27, while in the US it rose by 6 % to EUR 3.5 trillion.

Exchange-traded derivatives

  • The trading of interest rate derivatives (IRDs) in Europe rose (18 %) to EUR 451 trillion in 2021.
  • Global trading in commodity derivatives increased (33 %) at EUR 158 trillion, while the number of contracts reached 9 billion.

Over-the-counter derivatives

  • The notional amount of over-the-counter traded derivatives increased by 2.9 % in 2021 and the gross market value by 28 %.
  • Euro-denominated IRDs fell 2 % to EUR 113 trillion, representing 27 % of all contracts.
  • At the end of 2021, 77 % of IRDs were cleared with central clearing counterparties, an increase of five percentage points.

Investment funds

  • The number of undertakings for collective investment in transferable securities (UCITS) funds increased by 1 % in 2021 and the number of non-UCITS funds by 2 %.
  • The net assets of UCITS funds totalled EUR 11 trillion (+19 %), while those of non-UCITS reached EUR 7 trillion (+12 %).
  • Equity and bond funds represented 32 % and 22 % respectively of the total EU-27 investment fund market in terms of net assets.

At the time of drafting this report, Danielle Pintacasi was a Research Trainee at ECMI. Apostolos Thomadakis, Ph.D., is Research Fellow at ECMI and CEPS.

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