Turnover in investment certificates and leverage products on the European exchanges fell by 17.9 per cent to €22.2 billion ($30.1 billion) in the third quarter of 2013 in comparison with the previous quarter, according to figures from the European Structured Investment Products Association.

Compared with the same quarter in 2012, there was a more moderate decline of 7.3 per cent in European exchange turnover, the organisation said in a regular update on the industry.

Members of the association include Zertifikate Forum Austria, Association Française des Produits Dérivés de Bourse; Deutscher Derivate Verband; Associazione Italiana Certificati e Prodotti di Investimento, the Swedish Exchange Traded Investment Products Association and the Swiss Structured Products Association.

In the period from July to September 2013, turnover in investment products on the exchanges of member countries fell to €10.1 billion, a drop of 14.2 per cent in comparison with the same period of 2012. Investment certificates accounted for 45.5 per cent of the total volume of the exchanges of member countries at the end of September.

Turnover in leverage products was comparable with 2012, with the trading volume at €12.1 billion. This represented just a marginal decline of 0.6 per cent in comparison with the same quarter of 2012. Turnover in leverage products accounted for 54.5 percent of the total turnover.

The range of products offered on the exchanges of EUSIPA member countries at the end of the third quarter comprised 450,559 investment certificates and 639,584 leverage products. This represented an increase of 2.7 per cent in comparison with the previous quarter. The number of investment certificates listed was up 3.3 per cent in comparison with the same quarter of 2012, and the number of leverage products was up by 9.6 per cent.

The market volume – or open interest – in Austria, Germany and Switzerland at the end of September was €27.4 billion. This compared with €238.0 billion at the end of the previous quarter.