BlackRock has filed to create proprietary indexes for its iShares exchange-traded funds. The indexes will be "transparent to the public," the exemptive order says, indicating the indexes could be for actively managed ETFs.

While BlackRock does not say how many indexes it is planning or what sectors of the market they will cover, the investment advisor to $632 billion in ETF assets does indicate they will be for equity and/or fixed income funds.

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