In the midst of an already crowded marketplace of exchange-traded fund (ETF) providers, two new players are making a run for the end zone hoping to score with investors.

The Securities and Exchange Commission has just given the green light to four innovative, narrowly focused ETFs from FocusShares of Montvale, N.J. Through a licensing agreement, all four ETFs, which were originally registered under the "MyShares" moniker, will track to equity indexes created by the International Securities Exchange (ISE), which created the first fully automated options exchange in May 2000. The firm has been trading options on a slew of niche and novel indexes.

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