NYSE Becomes Largest Market For iShare Listings

by Phillip Morton, Investors Offshore.com

22 July 2005

Barclays Global Investors has announced the transfer of 61 iShares Exchange Traded Funds to the New York Stock Exchange from the American Stock Exchange, making the NYSE the largest market for listing iShares ETFs.

“We are delighted that BGI has chosen the New York Stock Exchange as the largest market for listing iShares funds, and we are extremely proud of our growing partnership with BGI,” noted NYSE CEO John A. Thain.

“The New York Stock Exchange is committed to offering investors the highest level of market quality as well as the broadest array of investment offerings, and BGI’s decision is an affirmation of that commitment," Mr Thain added.

ETFs are funds that track an index, commodity or a group sector specific equities but can be traded like a stock. They also have the added flexibility of allowing investors to sell them short, helping them to appeal to a wide cross section of investors.

Lee Kranefuss, CEO of Barclays Global Investors’ Intermediary Business observed: “iShares has been a pioneer in the ETF market. In concert with the NYSE, we have successfully offered investors a number of diverse products that are some of the fastest growing ETFs in the US"

“We’re pleased to strengthen our partnership with the Big Board, which has demonstrated its continued leadership in the securities markets and strong commitment to supporting the growing iShares Fund family and its investors.”

The 61 iShares ETFs will list on the NYSE in three tranches, beginning in 2005 and continuing through 2007. They will build on an already-growing current base of 19 listed ETFs at the NYSE, including GLD, DVY, TIP and the NYSE-based US 100 and Composite Index funds, NY and NYC. Creating and maintaining a highly competitive market and effective pricing system has made the Exchange the market of choice for the majority of the $140 billion iShares list.

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