Nasdaq will create a division that will focus solely on exchange-traded funds, The Wall Street Journal reports. One of the key functions of the unit will be to provide liquidity for ETFs with the help of a market makers.
Asked what she thought about the Nasdaq ETF Market, Lisa Dallmer, senior vice president of ETFs and indexes at the New York Stock Exchange, said, “As the largest public liquidity pool for ETFs in the U.S., we believe that our market model has been highly effective in addressing our customers’ needs while complementing our core equities trading business.
“We welcome new competitors to the ETF marketplace, but as the leader in ETF trading and assets under management, we remain doubtful that other similar service officers can match our value proposition and trading professionals,” she added.
For its part, Nasdaq said that it handled 54.1% of all ETF trades in May, more than any other exchange.
The staff of Money Management Executive ("MME") has prepared these capsule summaries based on reports published by the news sources to which they are attributed. Those news sources are not associated with MME, and have not prepared, sponsored, endorsed, or approved these summaries.