BATS Exchange today launched its first primary listing, an exchange-traded fund that tracks stocks in Norway.
The iShares MSCI Norway Capped Investable Market Index began trading this morning. It is the first of seven new ETFs sponsored by BlackRock’s iShares scheduled to commence trading on BATS this week.
“Today marks an important milestone for BATS and we are pleased to welcome these new investment products from iShares,” Joe Ratterman, chairman and chief executive officer of BATS Global Markets, said in a statement. “Our goal is to continue to attract dynamic and innovative companies to our market through our focus on customer needs and market quality.”
The iShares funds listing on BATS are based on MSCI indexes and are designed to provide investors with an opportunity to access various international markets.
The other funds scheduled to commence trading this week track equities in Australia, Canada, Denmark, Finland, Germany and the United Kingdom. They will all begin trading on Thursday.
Two additional iShares ETFs, the iShares MSCI India Index Fund and the iShares MSCI India Small Cap Index Fund, are scheduled to commence trading on BATS Exchange in coming weeks.
BATS, which officially became a primary listings venue in December, is in discussions with other potential issuers, but due to the company’s impending initial public offering and requisite quiet period, it has declined further comment.
Morgan Stanley, Citigroup and Credit Suisse Group are managing the IPO. BATS is currently owned by a consortium of firms including Bank of America, Citi, Credit Suisse and Getco.
