Cboe Global Markets announces listing for trading first semi-transparent ETFs in the United States

Maria Nikolova

Cboe has listed for trading the American Century Focused Dynamic Growth ETF and American Century Focused Large Cap Value ETF on the Cboe BZX Exchange.

Cboe Global Markets, Inc., one of the world’s leading exchange holding companies, today announces it has listed for trading the first actively managed, semi-transparent exchange-traded funds (ETFs) in the United States – the American Century Focused Dynamic Growth ETF and American Century Focused Large Cap Value ETF – on the Cboe BZX Exchange.

The Focused Dynamic Growth ETF is designed to invest in early stage, rapid growth companies with large market opportunities, whereas the Focused Large Cap Value ETF is designed to invest in large-cap, high-quality companies temporarily selling at a discount.

These ETFs utilize Precidian Investments’ ActiveShares® structure, which allows American Century to deliver its time-tested actively-managed investment strategies in an ETF vehicle without the daily holdings disclosure requirement of fully transparent ETFs. Semi-transparent ETFs also enable asset managers to take advantage of the liquidity and tax-advantage benefits of the ETF structure, while keeping their strategy hidden to protect shareholders.

In addition to Cboe as the primary listing venue, IHS Markit is the verified intraday indicative value (VIIV) calculation agent, Citadel Securities is the lead market maker (LMM), State Street Corporation is the custodian and State Street Global Markets, LLC and Cantor Fitzgerald & Co. are Authorized Participant Representatives (APRs).

Laura Morrison, Senior Vice President and Global Head of Listings at Cboe Global Markets, said: “We are proud to serve as the listing exchange for American Century’s ground-breaking ETFs. Cboe has led the effort with our regulators and industry partners to bring the Precidian ActiveShares ETF structure to U.S. investors, and pave the way for more semi-transparent ETFs in the future. The successful launch today marks a significant industry milestone and builds on Cboe’s proven track record in delivering products and services that bring unique value to the marketplace.”

At present, the Cboe BZX Exchange is the only U.S. equities exchange that has received approval from the SEC to list semi-transparent ETFs utilizing the ActiveShares® model. At the end of 2019, Cboe was the listing venue for more than 380 exchange-traded products (ETPs) from close to 50 unique issuers globally.

Read this next

Digital Assets

BlackRock digs further into crypto with metaverse ETF

BlackRock, the world’s largest asset manager with almost $10 trillion in AUM, is set to launch a new metaverse ETF to help investors securely monetize on the booming immersive version of the internet.

Digital Assets

Binance wins license in New Zealand as rival Huobi shutters derivatives

Binance, the world’s largest crypto exchange by traded volume, has obtained licenses to operate in New Zealand, even after rival Huobi shutdown derivatives trading last month due to concerns about regulations.

Retail FX

Hong Kong busts perpetrators of ‘ramp and dump’ scam

Hong Kong’s financial watchdog, the Securities and Futures Commission (SFC), has charged thirteen suspects of market manipulation in a joint operation with the local police.

Institutional FX

TradingView integrates market data from German Tradegate exchange

TradingView announced that it ‎has increased data coverage to allow its users to receive information from ‎and get free access to the intra-day and tick data from Tradegate Exchange.

Retail FX

Spotware Systems introduces Custom Push Notifications for cTrader mobile apps

Spotware Systems, a technology provider for the electronic trading industry, is introducing a new push notification feature to alert mobile users of price swings and market fluctuations through their cTrader app.

Market News

The Week Ahead: 30 September from David Madden, Market Analyst at Equiti Group

Sterling dominated the headlines last week, as there were concerns the UK government might struggle to service its debt.

Inside View

How does the quality of signal providers affect your business?

A must-have onboarding process for brokers with investment services like PAMM, MAM, or copy trading

Technology

DBS deploys Nasdaq Trade Surveillance

“The confidence that markets and our clients have in DBS as a safe and trusted banking group is anchored on our ability to detect and respond to anomalous activity, which in turn calls for a robust surveillance and prevention infrastructure.”

Industry News

SEC charges Justin Costello and David Ferraro for securities fraud and posing as billionaire veteran

The Securities and Exchange Commission charged Cannabis executive Justin Costello and David Ferraro, an associate of Costello’s, for promoting the stock of several microcap companies on social media without disclosing their own simultaneous stock sales as market prices rose.

<