News Releases

 
NYSE Eliminates Direct+ Order Size and Frequency Limits for ETF Trading
Investors Now Have Greater Access to Market of Choice for ETFs

NEW YORK, Sept. 6, 2005 – The Securities and Exchange Commission has approved amendments removing order size and frequency restrictions for all ETF trading on the New York Stock Exchange via Direct+SM.  As of Sept. 1, the NYSE amended Rules 13 and 1005, allowing automatic execution of any order regardless of size and time frequency, respectively.

In order to increase the ability of NYSE customers to automatically execute orders in ETFs through Direct+, the Exchange has:

  • Amended Rule 13 to eliminate the 10,000 share size restriction for auto-ex orders in ETFs.
  • Amended Rule 1005 to eliminate the 30-second frequency restriction for auto-ex orders in ETFs.

The Exchange is the primary listing market for 22 ETFs, with 59 funds also available on an unlisted trading privileges basis.  As one of the leading markets for ETFs and related products, the NYSE continues to build scale in the ETF arena by trading the most innovative ETFs, structured products and other derivative securities. 

On July 20, BGI announced the transfer of 61 iShares ETFs to the NYSE, making the Exchange the largest primary market for the complete iShares list.  The NYSE is committed to further increasing its standing as a highly competitive marketplace and a market of choice for ETFs.



Contact: Eric Ryan
Phone: 212.656.2411
Email:  eryan@nyse.com