30.01.2025

2024 ECMI Statistical Package - Key findings

Published in: 
Research Reports
Author(s): 
Apostolos Thomadakis, Leonardo Trevisan

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 2024 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 20 % in 2023.
  • The capital raised through initial public offerings decreased fourfold in 2023 to EUR 5 billion.
  • The number of listed exchange-traded funds (ETFs) in the EU-27 rose by 5 % to 10 000, but the total value of ETF trading declined marginally by 1 % to EUR 477 billion.

Debt securities

  • The global amount of outstanding debt securities saw an increase in 2023, totalling EUR 124 trillion.
  • Notional amounts of outstanding debt in the EU-27 grew in terms of value (+15 %) and GDP (standing at 141 % of GDP, plus 8 percentage points).
  • The issuance of securitised products grew 5 % to EUR 213 billion in the EU-27, while in the US it fell by 38 % to EUR 1.3 trillion.

Exchange-traded derivatives

  • The trading of interest rate derivatives (IRDs) in Europe rose (by 5 %) to EUR 582 trillion in 2023.
  • Global trading in commodity derivatives increased (by 56 %) to EUR 285 trillion, while the number of contracts agreed also rose by 21 % to 10 billion.

Over-the-counter derivatives

  • The notional amount of over-the-counter traded derivatives increased by 4.2 % in 2023 and the gross market value decreased by -16 %.
  • Euro-denominated IRDs rose 20 % to EUR 171 trillion, representing 37 % of all contracts.
  • At the end of 2023, 76 % of IRDs were cleared with central clearing counterparties.

Investment funds

  • The number of undertakings for collective investment in transferable securities (UCITS) funds increased by 1 % (+249 UCITS) to 29 891, while the number of non-UCITS funds remained almost stable at 27 545 (+24 non-UCITS).
  • The net assets of UCITS funds totalled EUR 11 trillion (+14 %), while those of non-UCITS reached EUR 7 trillion (+4 %).
  • Equity and bond funds represented 31 % and 21 % respectively of the total EU-27 investment fund market in terms of net assets.

The statistical package is available free of charge for ECMI members, while non-members can purchase it via the CEPS website. Apostolos Thomadakis, Ph.D., is Head of Research at ECMI and Research Fellow at the Financial Markets and Institutions Unit at CEPS. The author gratefully acknowledges Leonardo Trevisan, an intern at ECMI, who was responsible for the compilation of the 2024 ECMI Statistical Package.

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