09.13.2016

BlackRock Canada Intends to Switch the Listing Venue of Certain iShares Funds from the TSX to NEO

Aequitas – Toronto – Aequitas NEO Exchange Inc. (“NEO Exchange” or “NEO”), Canada’s newest stock exchange, is pleased to announce that BlackRock Asset Management Canada Limited (“BlackRock Canada”) has announced its intention to move the listing venue for certain iShares exchange-traded funds (ETFs) from the Toronto Stock Exchange (TSX) to NEO.  This decision marks the first time a Canadian ETF provider has switched listings from the TSX to an alternative exchange.

Blackrock Canada intends to move the common units and advisor class units of the following five iShares Funds (collectively, the “iShares Funds”), consisting of 12 ETF listings, to NEO:

 

Fund Name Tickers
iShares International Fundamental Index ETF CIE, CIE.A
iShares Japan Fundamental Index ETF (CAD-Hedged) CJP, CJP.A
iShares US Fundamental Index ETF CLU, CLU. A, CLU.B, CLU.C
iShares Emerging Markets Fundamental Index ETF CWO, CWO.A
iShares Canadian Fundamental Index ETF CRQ, CRQ.A

 

Subject to approval, the migration of the iShares Funds is anticipated to occur in the fourth quarter of 2016.

“We’re thrilled to announce this new collaboration with the NEO Exchange, and believe it is a positive step forward in encouraging greater competition in Canada’s ETF ecosystem,” stated Warren Collier, Head of iShares, BlackRock Canada. “Exchange diversification has played an important role in iShares’ global listing strategy as we believe it will help to foster further innovation and ultimately enhance the experience of investors.”

 

The NEO Exchange now facilitates almost one quarter of all ETF trading volume in Canada, making it the second largest trading venue for ETFs in the country.  NEO’s investor-friendly trading model and market making program enable its designated market makers to provide strong liquidity in NEO-listed ETFs, which will benefit investors.

 

“We are very proud and honoured that BlackRock Canada is listing these iShares funds with us. As a champion of competition and innovation within the Canadian ETF ecosystem, we look forward to their first days of trading as NEO-listed securities,” stated Jos Schmitt, President and Chief Executive Officer, NEO Exchange.  “As we continue to increase ETF trading volumes and listings on NEO, it is clear that an exchange driven by fairness, liquidity, transparency and efficiency is well-positioned to meet the needs of long-term investors and corporations seeking to raise capital.”

Related articles

  1. Corvil Deploys Real-Time Analytics

    The addition of Essentia behavioral analytics solutions is an extension of Northern Trust Whole Office.

  2. Upstart exchange has seen market share increase to near 4%.

  3. Goldman Sachs Asset Management’s fundamental equity business manages over $20bn in thematic equities.

  4. Data extraction and integration is the second stage of a digitization process.

  5. With Ankit Mittal, Business Change Manager, Global Trading, Schroders