(Bloomberg) -- The U.S. Securities and Exchange Commission cleared the way for issuers of actively managed ETFs to get their products on the market faster.

Regulators approved a rule filing that will speed the listing process for the ETFs, whose stock and bond holdings are picked by human managers rather than determined by indexes, according to exchange operators NYSE Group and Bats Global Markets. The approval is a victory for the exchanges, which asked for permission for a streamlined application process in filings last year.

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