The New York Stock Exchange has recieved approval from the Securities and Exchange Comission to do away with restrictions on how many exchange-traded funds are allowed to be traded at one time through the Big Board's electronic-execution system.

With the change, which was effective Sept. 1, NYSE will no longer be limited to trading 10,000 shares per day and will not have to wait 30 seconds between trades.

Industry observers believe that with this adjustment, NYSE will become a leader in the ETF market, according to a Dow Jones newswire.

"This move demonstrates the NYSE's commitment to creating and maintaining the most fair, efficient and transparent market for ETF trading," said a spokeswoman from Barclays Global Investors.

"We are making this change to respond to our customers' desire for faster access to NYSE liquidity," said Robert McSweeney, senior vice president, NYSE.

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