A Barclays news release said it was transferring the products from the American Stock Exchange (AMEX) and that the move still required regulatory approval.
According to the announcement, 61 iShares Funds will move to the NYSE and 19 iShares Funds and one grantor trust will move to ArcaEx. The products are expected to transition in several phases starting later this year and concluding in 2007. No action is needed by current shareholders.
“The decision to move the funds follows a year-long, comprehensive review of the exchanges, during which BGI 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 in the future and support the growing iShares business,” said Lee Kranefuss, CEO of BGI’s Intermediary Business, in the news release.
BGI’s US 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 currently, according to the news release.