PIMCO Active Bond Exchange-Traded Fund begins trading today, making it also the first active ETF to be listed on the NYSE
Able to leverage the NYSE’s unique floor-based trading model, greater visibility
The New York Stock Exchange, part of Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of data, technology and market infrastructure, announced that the PIMCO Active Bond Exchange-Traded Fund (NYSE: BOND) began trading today as an NYSE-listed ETF. It becomes the first ETF to list on the NYSE in the past 15 years and the first-ever active ETF to be listed on the Big Board.
The historic event marked the completion of the PIMCO Active Bond Exchange-Traded Fund’s listing transfer from NYSE Arca, the fully electronic exchange that is the industry leader in ETFs both by number of U.S. listings and assets under management.
By listing on the NYSE, the PIMCO Active Bond Exchange-Traded Fund can take full advantage of the NYSE’s unique floor-based trading model, which combines cutting-edge technology with accountability and human judgment to enhance market quality and improve trading outcomes for investors. In recent years, the Securities and Exchange Commission approved a series of rule changes that allow for a broad range of ETFs to list on the NYSE.
“We are excited to welcome the PIMCO Active Bond Exchange-Traded Fund to the New York Stock Exchange, making history as the first active ETF to ever list on the NYSE floor,” said Douglas Yones, the NYSE’s Head of Exchange Traded Products. “The NYSE is thrilled to be able to bring ETFs to our iconic trading floor, where they can leverage a unique trading model that combines industry-leading technology and human judgment as well as the greater visibility inherent in an NYSE listing.”
“This year’s dramatic rise in yields makes bonds more attractive for patient investors looking for returns in a volatile environment,” said David Braun, PIMCO Managing Director and Portfolio Manager. “We believe actively-managed core bond strategies like BOND can play an important role as an income generator and a diversifier within portfolios, especially during an economic slowdown.”
The NYSE’s ability to list ETFs on both the NYSE and NYSE Arca exchanges gives issuers an even broader set of tools to reach global investors. ETFs that are actively managed or invest in less actively traded securities may benefit from a listing on the NYSE, with its emphasis on leveraging human judgment to reduce volatility. Listing on either exchange provides ETF issuers with membership in the NYSE community, which brings a number of advantages including the incomparable visibility that stems from listing on an NYSE exchange.
About NYSE Group
NYSE Group is a subsidiary of Intercontinental Exchange (NYSE: ICE), a leading global provider of data, technology and market infrastructure. NYSE Group’s equity exchanges -- the New York Stock Exchange, NYSE American, NYSE Arca, NYSE Chicago and NYSE National -- trade more U.S. equity volume than any other exchange group. The NYSE, an ICE exchange, is the premier global venue for capital raising. NYSE Arca Options and NYSE Amex Options are leading equity options exchanges. To learn more, visit nyse.com.
About Intercontinental Exchange
Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks to connect people to opportunity. We provide financial technology and data services across major asset classes that offer our customers access to mission-critical workflow tools that increase transparency and operational efficiencies. We operate exchanges, including the New York Stock Exchange, and clearing houses that help people invest, raise capital and manage risk across multiple asset classes. Our comprehensive fixed income data services and execution capabilities provide information, analytics and platforms that help our customers capitalize on opportunities and operate more efficiently. At ICE Mortgage Technology, we are transforming and digitizing the U.S. residential mortgage process, from consumer engagement through loan registration. Together, we transform, streamline and automate industries to connect our customers to opportunity.
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