BATS Global Markets continues its efforts to become the dominant listing destination for exchange traded funds and that effort includes wresting two State Street ETFs from the New York Stock Exchange.
State Street’s State Street Global Advisors (SSgA), the third-largest U.S. ETF issuer, will move the SPDR DoubleLine Short Term Total Return Tactical ETF and the SSgA Active Trust to BATS, reports the Wall Street Journal.
BATS has attracted some listings from other well-known ETF providers in addition to being the listing venue of choice for providers behind several new ETFs. For example, ProShares lists seven ETFs on BATS, including the ProShares Investment Grade-Interest Rate Hedged ETF (BATS: IGHG) and the ProShares High Yield Interest Rate Hedged ETF (BATS: HYHG).
Last month, BATS said it “plans to launch what it calls the BATS ETF Marketplace, which will pay ETF providers as much as $400,000 a year to list on BATS. Payments will vary depending on average daily volume,” report Bradley Hope and Leslie Joseph for the Wall Street Journal.