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Quarterly Report

ETF Industry Wraps up Record Year; NYSE Arca Nears 1,500 ETF Milestone as Innovation Continues

2017 was another record year for ETFs. With 35 percent industry growth in AUM versus 2016, and over 270 new product launches, the industry continues to expand. Momentum also continued into the seasonally slower fourth quarter where inflows approached $345 billion in AUM. 70 new ETFs listed on NYSE Arca in 4Q17, including one transfer. NYSE Arca continues to lead the industry with nearly 83% in AUM. We also welcomed five new issuers to our community: Advisor Asset Management, Change Finance, EntrepreneurShares, SL Advisors, and USAA. It’s exciting to see the continued innovation in the ETF marketplace.

Our parent company, ICE, completed its acquisition of the Bank of America Merrill Lynch Global Research division’s fixed income index platform, which is now part of ICE Data Services. The more than 5,000 global fixed income, currency, and commodity indices known now as the ICE BofAML Index family expands our index offerings.

Turning to 2018, we expect the year to start strong with U.S. equity markets at record levels and the passage of tax reform. We look forward to discussing market conditions for issuance and innovation at the Inside ETF Conference January 21-24. Our team will be on hand and looks forward to connecting with you, and NYSE President Tom Farley will discuss the future of the markets in a fireside chat.

We thank you for your continued partnership and wish you the best in 2018.

Douglas M. Yones, NYSE Head of Exchange Traded Funds

NYSE Arca has the most market share in trading volume with over 2 times more liquidity than the next largest exchange.
Nearly 83% of all U.S. ETF AUM is listed on NYSE Arca.
NYSE Arca has the narrowest quoted bid/ask spreads.

REGULATORY UPDATES

Regulation M Class Relief

On December 7, the SEC issued a Regulation M class relief letter which reduces the creation unit size for existing indexed ETFs to 10,000 shares or where the value is at least $250,000. Previously, the creation unit size for indexed ETFs was required to be at least 50,000 shares or to have a value of at least $1 million.

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Limit Up-Limit Down (LULD) Implementation

The Limit Up-Limit Down Plan is designed to address extraordinary volatility, protect investors and promote fair and orderly markets. On November 20, our three exchange platforms - NYSE, NYSE American, and NYSE Arca - introduced changes to provide a cross-market solution to better facilitate the opening process following an LULD Trading Pause. These changes to the LULD Plan are described as the twelfth and thirteen amendments.

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Continued Listing Standards

NYSE released an FAQ regarding its interpretation of the Continued Listing Standard for ETFs.

Read the FAQ

2017 ETF Highlights Video

Watch how NYSE supported our ETF issuers in 2017

Interested in listing at NYSE?