January 28, 2008 at 10:00 am by Tom Lydon
There’s a new exchange traded fund (ETF) king in town: the New York Stock Exchange.
The coming acquisition of the American Stock Exchange by the Big Board is a big deal: NYSE’s electronic trading platform, NYSE Arca, now lists all of that exchange’s 240 ETFs. It stands to pick up the 380 Amex-listed ETFs on top of that, with about $250 billion in total assets, reports John Spence for the Wall Street Journal.
How big is that going to make NYSE Arca?
The Chicago Board Options Exchange lists just one ETF. Nasdaq, which competes fiercely with NYSE Arca for trading volume, also lists a handful. They also boast the popular PowerShares QQQ Trust (QQQQ).
Matt Hougan at IndexUniverse says that while less choice historically is not good, the move might actually be good for Nasdaq. It’s now the only viable alternative to the NYSE Arca.
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