just now
November 14, 2022 - The New York Stock Exchange announced that the PIMCO Active Bond Exchange-Traded Fund (NYSE: BOND) began trading today as an NYSE-listed ETF. It becomes the first ETF to list on the NYSE in the past 15 years and the first-ever active ETF to be listed on the Big Board.
The event marked the completion of the PIMCO Active Bond Exchange-Traded Fund’s listing transfer from NYSE Arca, the fully electronic exchange that is the industry leader in ETFs both by number of U.S. listings and assets under management.
By listing on the NYSE, the PIMCO Active Bond Exchange-Traded Fund intends to take advantage of the NYSE’s floor-based trading model, which combines technology with human judgment with a view to enhancing market quality and improve trading outcomes for investors. In recent years, the Securities and Exchange Commission approved a series of rule changes that allow for a broad range of ETFs to list on the NYSE.
“We are excited to welcome the PIMCO Active Bond Exchange-Traded Fund to the New York Stock Exchange, making history as the first active ETF to ever list on the NYSE floor,” said Douglas Yones, the NYSE’s Head of Exchange Traded Products. “The NYSE is thrilled to be able to bring ETFs to our iconic trading floor, where they can leverage a unique trading model that combines industry-leading technology and human judgment as well as the greater visibility inherent in an NYSE listing.”
“This year’s dramatic rise in yields makes bonds more attractive for patient investors looking for returns in a volatile environment,” said David Braun, PIMCO Managing Director and Portfolio Manager. “We believe actively-managed core bond strategies like BOND can play an important role as an income generator and a diversifier within portfolios, especially during an economic slowdown.”
The NYSE’s ability to list ETFs on both the NYSE and NYSE Arca exchanges is intended to give issuers a set of tools to reach global investors.
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