|By PR Newswire||
|October 7, 2013 07:01 PM EDT||
- Introduces Innovative Market Maker Incentives via the Competitive Liquidity Provider Program
LONDON, Oct. 7, 2013 /PRNewswire/ -- BATS Chi-X Europe today announced plans to launch its pan-European listings business and iShares ®, the exchange-traded funds (ETF) platform of BlackRock (NYSE: BLK), will become the first issuer to list on the Regulated Market segment of the exchange.
The initial ETFs, the iShares MSCI Emerging Markets UCITS ETF (Ticker: IEEM) and iShares MSCI World Minimum Volatility UCITS ETF (Ticker: MVOL) are scheduled to commence trading on BATS Chi-X Europe in November 2013 as secondary listings. BATS Chi-X Europe is the largest pan-European equities exchange by market share and notional value traded.
BATS Chi-X Europe CEO Mark Hemsley said "As a truly pan-European Recognised Investment Exchange, we are delighted to partner with a market leader such as iShares as we work to bring innovation and deeper liquidity via a single pan-European market.
"Building on the success of our U.S. ETF listings business, we will work closely with issuers and trading participants to address the need for more transparency and liquidity in exchange-traded products," he added.
Mr. Hemsley also announced that European Head of Business Development Guy Simpkin, who brings extensive experience in exchange-traded product development, will lead the company's listings effort.
BATS Chi-X Europe is seeking to implement a range of initiatives targeted at enhancing the European ETF market. Among its innovations is its Competitive Liquidity Provider (CLP) program designed to incentivise market makers to provide the quality of order books required to attract a diverse range of investors to issuers' products.
Leland Clemons, Head of Capital Markets EMEA for iShares said "iShares is excited to be the first ETF provider to cross-list products on BATS Chi-X Europe. We anticipate that their innovative program will add liquidity to the European ETF market and support our ambitions to grow the market by delivering an improved trading experience for investors."
As a Recognised Investment Exchange (RIE), BATS Chi-X Europe is authorised to operate a Regulated Market for primary and secondary listings alongside its existing business. BATS Chi-X Europe was granted RIE status by the Financial Conduct Authority (FCA) in May 2013.
Additional information on the BATS Chi-X Europe's listings, CLP program and ETF strategy are available on the www.batstrading.co.uk/etfs
Companies interested in learning more about BATS Chi-X Europe listings may email SalesEurope@bats.com.
About BATS Global Markets
BATS Global Markets, Inc. (BATS) is a leading operator of securities markets in the U.S. and Europe. In the U.S., BATS operates two stock exchanges, the BATS BZX Exchange and BYX Exchange; BATS Options, a U.S. equity options market; and the BATS 1000 Index, an innovative U.S. equities market benchmark. The BATS BZX Exchange is a primary listings venue for exchange-traded products and is home to 20 exchange-traded funds. In Europe, BATS Chi-X Europe, a Recognised Investment Exchange regulated by the UK Financial Conduct Authority (FCA), and the largest pan-European equities exchange by market share and value traded, offers trading in more than 2,800 equities across 25 indices and 15 major European markets. The company is headquartered in the Kansas City, Mo. area, with additional offices in New York and London. For more information, visit www.bats.com.
BATS and its affiliates do not recommend or make any representation as to possible benefits from any securities or investments, or third-party products or services. Investors should undertake their own due diligence regarding their securities and investment practices. This press release speaks only as of this date. BATS disclaims any duty to update the information herein.
BlackRock is a leader in investment management, risk management and advisory services for institutional and retail clients worldwide. At June 30, 2013, BlackRock's AUM was $3.857 trillion. BlackRock helps clients meet their goals and overcome challenges with a range of products that include separate accounts, mutual funds, iShares® (exchange-traded funds), and other pooled investment vehicles. BlackRock also offers risk management, advisory and enterprise investment system services to a broad base of institutional investors through BlackRock Solutions®. Headquartered in New York City, as of June 30, 2013, the firm had approximately 10,700 employees in 30 countries and a major presence in key global markets, including North and South America, Europe, Asia, Australia and the Middle East and Africa. For additional information, please visit the Company's website at www.blackrock.com.
iShares is the global product leader in exchange traded funds with over 600 funds globally across equities, fixed income and commodities, which trade on 20 exchanges worldwide. The iShares Funds are bought and sold like common stocks on securities exchanges. The iShares Funds are attractive to many individual and institutional investors and financial intermediaries because of their relative low cost, tax efficiency and trading flexibility. Investors can purchase and sell shares through any brokerage firm, financial advisor, or online broker, and hold the funds in any type of brokerage account. The iShares customer base consists of the institutional segment of pension plans and fund managers, as well as the retail segment of financial advisors and high net worth individuals.