NEW YORK, Nov. 16, 2007 (PRIME NEWSWIRE) -- The Nasdaq Stock Market, Inc. ("NASDAQ(r)") (Nasdaq:NDAQ) today announced it has listed five new exchange-traded funds (ETFs) sponsored by Barclays Global Investors, N.A. (BGI) -- the world's largest ETF provider. NASDAQ is the most liquid U.S. market for ETFs, capturing 37.9% of all U.S. ETF volume in October, a record high for the second consecutive month. Matched volume was 6.6 billion, more than any other U.S. exchange.
The BGI-sponsored ETFs are the first new ETFs to list on NASDAQ since the October launch of the NASDAQ ETF Market. This market is designed specifically to support ETFs and Index Linked Notes (ILNs) during their critical period of incubation.
Effective Friday, November 16, the following BGI-sponsored ETFs listed on NASDAQ:
* iShares FTSE Developed Small Cap ex-North America Index Fund (Nasdaq:IFSM) * iShares FTSE EPRA/NAREIT Global Real Estate ex-U.S. Index Fund (Nasdaq:IFGL) * iShares FTSE EPRA/NAREIT Asia Index Fund (Nasdaq:IFAS) * iShares FTSE EPRA/NAREIT North America Index Fund (Nasdaq:IFNA) * iShares FTSE EPRA/NAREIT Europe Index Fund (Nasdaq:IFEU)
"We're pleased to partner with NASDAQ on providing these new international iShares funds," said Michael Latham, Head of iShares Americas. "The new funds offer investors the ability to invest more precisely in international markets, plus investors receive the benefits of NASDAQ's new ETF Market."
"By listing on NASDAQ, these new iShares ETFs will benefit from a uniquely innovative market structure designed specifically to promote the growth of ETFs during their incubation period," stated NASDAQ President and CEO Robert Greifeld. "These iShares ETFs will provide investors with instant, diversified exposure to a range of investment opportunities in a NASDAQ environment characterized by deep liquidity, speed, and unparalleled transparency."
The NASDAQ ETF Market is designed specifically for ETFs and ILNs and further strengthens NASDAQ's leadership position in the U.S. ETF sector.
The focus of The NASDAQ ETF Market is the Designated Liquidity Provider, a Market Maker who has been selected to maintain liquidity in qualified ETFs (i.e., Qualified Securities). NASDAQ requires Designated Liquidity Providers to maintain a higher standard of market quality measured by spread, depth, and time quoting at or near the National Best Bid and Offer (NBBO). They receive price incentives to support ETFs during their period of initial listing, when ETFs need to develop more active trading.
Designated Liquidity Providers are selected by NASDAQ based on factors including experience with making markets in ETFs and ILNs, adequacy of capital, willingness to promote NASDAQ as a marketplace, issuer preference, operational capacity, support personnel, and history of adherence to NASDAQ rules and securities laws.
The NASDAQ ETF Market allows the traditional floor-based specialist, which has historically provided initial liquidity to new ETFs, to play a similar role by placing two-sided quotes in the NASDAQ Market Center. This enables ETF sponsors to continue to have the ability to develop "preferred" relationships with intermediaries. ETF issuers may choose a single Designated Liquidity Provider or multiple, competing liquidity providers. This flexible structure enables ETF issuers and traders to interact based on the needs of the issuer as they vary throughout the life cycle of the ETF.
NASDAQ is a leading index calculator, designer and creator of some of the world's most popular ETFs, including PowerShares QQQ(tm) (Nasdaq:QQQQ) -- one of the most heavily traded listed equity securities in the U.S. and one of the most active ETFs in the world. PowerShares QQQ is designed to correspond to the price and yield performance of the NASDAQ-100 Index(r), the basis of more than 500 investment products in more than 36 countries.
For more information about the NASDAQ ETF Market, please contact Richard Keary, NASDAQ New Listings, at 212.401.8903 or Richard.Keary@Nasdaq.com or NASDAQ Market Sales at 800.846.0047 or sales@nasdaq.com.
For more information about BGI's iShares ETFs, please visit www.ishares.com.
About NASDAQ
NASDAQ is the largest U.S. equities exchange. With approximately 3,100 companies, it lists more companies and, on average, trades more shares per day than any other U.S. market. It is home to companies that are leaders across all areas of business including technology, retail, communications, financial services, transportation, media and biotechnology. NASDAQ is the primary market for trading NASDAQ-listed stocks as well as a leading liquidity pool for trading NYSE-listed stocks. For more information about NASDAQ, visit the NASDAQ Web site at www.nasdaq.com or the NASDAQ Newsroom at www.nasdaq.com/newsroom/.
Cautionary Note Regarding Forward-Looking Statements
The matters described herein contain forward-looking statements that are made under the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements about the iShares ETFs, the NASDAQ ETF Market program, its benefits and related NASDAQ strategic initiatives. We caution that these statements are not guarantees of future performance. Actual results may differ materially from those expressed or implied in the forward-looking statements. Forward-looking statements involve a number of risks, uncertainties or other factors beyond NASDAQ's control. These factors include, but are not limited to factors detailed in NASDAQ's annual report on Form 10-K, and periodic reports filed with the U.S. Securities and Exchange Commission. We undertake no obligation to release any revisions to any forward-looking statements.
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