Deutsche Börse is set to be first past the post in the race to launch a European market for exchange traded funds (ETFs).

London Stock Exchange, with support from Barclays Global Investors, created a new market ExtraMARK in March, specifically to trade these products (see eFinancialNews, March 6). But it has not yet gone live. And Stockholm-based OM Gruppen will not launch the first Swedish ETF, called Xact, until this summer (see eFinancialNews, March 27).