Despite growing competition from the New York Stock Exchange and Nasdaq, the American Stock Exchange (Amex) continues to hold its own when it comes to exchange-traded funds and other structured investment products.
With a record 121 new product launches in the first half of 2007, the Amex reaffirmed its position as a listing venue in the ETF marketplace. The total number of ETFs listed at the Amex rose to 327 and assets of Amex-listed ETFs totaled $191 billion.
Mid-Year Highlightso 121 new ETFs from 10 different issuerso 73 new structured products, bringing total listings to 405o 54 new companies
The Amex welcomed new products from 10 different issuers including WisdomTree Investments, new to the exchange. Within the six-month period, growth was especially strong when it came to listings of fixed-income and international portfolios.
“This has been an exceptionally strong year for new ETF listings at the Amex,” notes Scott Ebner, senior vice president of Amex’s ETF markets. “We are committed to working with our partners to provide investors with new ETF product choices and continuing to grow the ETF marketplace.”
Other ProductsThe Amex also welcomed two new issuers in structured products as its Capital Markets Group continued to secure a strong presence within the structured products industry: Barclays Bank and American International Group (AIG). Barclays’ iPath CBOE S&P 500 BuyWrite Index Exchange-Traded Note listed on the exchange in May and AIG’s Nikkei 225 Index MITTS (Market Index Target-Term Securities) listed in June.
Another noteworthy development was the second conversion of an Amex-listed closed-end fund into an Amex-listed ETF. On June 15, the First Trust Value 100 Fund was converted into an ETF and three days later, on June 18, listed as the First Trust Value 100 Exchange Traded Fund (FVL).
Ron DeLegge is the San Diego-based editor of www.etfguide.com.