Barclays Global, a Barclays Plc unit, said in a statement that subject to legal contingencies such as regulatory approval, 61 iShares funds will move to the NYSE and 19 iShares funds and one grantor trust will move to ArcaEx.
"The decision to move the funds follows a year-long, comprehensive review of the exchanges," said Lee Kranefuss, CEO of Barclays Global’s intermediary business in a statement.
Kranefuss said Barclays Global concluded that the NYSE and ArcaEx "have unique attributes and a demonstrated commitment to building the technology and infrastructure" that will facilitate trading of iShares products.
Kranefuss said the NYSE already lists 16 iShares ETFs and ArcaEx currently trades about 30 percent of ETF shares traded.
Barclays Global said its U.S. ETF business has grown from $2 billion in assets with 17 funds when it launched the iShares brand in 2000 to $140 billion with 99 iShares products today.
In April, the NYSE struck a deal to acquire Archipelago Holdings Inc., parent of ArcaEx, in a bid to gain a competitive electronic trading platform and become a public company.
Source: Reuters
