The New York Stock Exchange announced Friday that it would soon begin trading exchange-traded funds on an unlisted trading privileges basis.

An exchange-traded fund is a basket of stocks which is designed to track the performance of an index, and can be bought and sold like a stock. It will be possible to trade the funds any time during normal market hours, the exchange announced.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.