Belgium Financial Services and Markets Authority has published the first FSMA Retail Investor Dashboard, a quarterly publication summarising Belgian retail investors’ trading in listed shares, exchange-traded funds (ETFs) and bonds at entities under FSMA supervision, using MiFIR transaction data. The inaugural edition covers data through the third quarter of 2024 and combines a set of recurring core charts with a rotating analytical section. The dashboard shows higher participation in the first half of 2024 than in 2023, with around 170,000 Belgian investors trading listed shares in the second quarter of 2024, up 15% year on year, and a record 57,000 trading ETFs, almost double the second quarter of 2023. By contrast, about 21,000 traded bonds, down 30% year on year. Activity slowed in the third quarter of 2024, with active equity investors falling to about 142,000, more than 15% below the previous quarter, while the number of ETF investors was broadly stable; 14,000, 12,000 and 4,000 investors traded listed shares, ETFs and bonds for the first time, respectively. Retail investors remained net buyers across all three instruments and executed around 1,060,000 stock transactions, about 166,000 ETF transactions and almost 30,000 bond transactions in the quarter; ETF transactions have been roughly 50% higher per quarter since the start of 2024 versus end-2023, while bond transaction counts have fallen by about 30% compared with the last quarter of 2023. The first edition’s thematic section reports median order values of about EUR 1,500 for stocks, EUR 1,100 to 1,300 for ETFs and EUR 10,000 to 13,000 for bonds, and shows average investor ages highest for bonds and lowest for ETFs. The FSMA plans to update the dashboard every three months.

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