NYSE Successfully Petitions for a Simplified Listing Process for Actively Managed Exchange Traded Funds (ETFs)

The New York Stock Exchange (NYSE), part of Intercontinental Exchange (NYSE:ICE), today announced receipt of Securities and Exchange Commission (SEC) approval to streamline the listing process for certain actively managed ETFs.

Since 2000, NYSE has worked collaboratively with the industry and the SEC to simplify the listing process for issuers. Effective immediately, many actively managed funds will be able to list new ETF products without a separate filing with the SEC under SEC Rule 19b-4,1 a process that can create uncertainty for the issuer. This change will align the launch process for index-based and actively managed ETFs.

According to Doug Yones, NYSE Head of Exchange Traded Products, the NYSE is focused on initiatives designed to promote innovation in the growing ETF industry.

“We are pleased that our efforts to rationalize the listings process for actively managed funds will provide issuers with greater certainty on timing and efficiency when launching new products,” Doug said.

“The NYSE is committed to reducing complexity in U.S. markets to benefit issuers, market participants and investors. We are also proud to support our issuer community with the largest, most liquid, and highest quality ETP market, coupled with an unparalleled service model to navigate each stage of their product life cycle, from product development, launch and then active trading.”

NYSE Arca currently lists 1,571 ETPs from over 70 issuers, which includes 103 actively managed funds, and is the leading exchange in both assets under management (AUM), number of listed ETPs, and ETP traded volume.

About Intercontinental Exchange

Intercontinental Exchange (NYSE:ICE) operates the leading network of global futures, equity and equity options exchanges, as well as global clearing and data services across financial and commodity markets. The New York Stock Exchange is the world leader in capital raising, listings and equities trading.

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Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 -- Statements in this press release regarding ICE's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2015, as filed with the SEC on February 4, 2016.

1 Unless an exchange-traded product meets SEC approved “generic” listing standards, as were recently approved for certain actively-managed transparent funds, SEC Rule 19b-4 under the Securities Exchange Act of 1934 requires an exchange to file with the SEC a detailed description of a new derivative product, including options, warrants, hybrid securities and ETFs, on Form 19b-4 and for the SEC to approve the filing, before the exchange can list such a new derivative product. More information on the Form 19b-4 is available on the SEC website.

SOURCE: Intercontinental Exchange

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