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Tuesday, July 08, 2008

Vanguard To Move ETFs to the Arca

by: Erin Kello

Vanguard plans to follow several other ETF companies that have moved their funds over to the electronic trading platform, NYSE Arca. Vanguard will move 34 of its ETFs over to the platform after the deal between the Amex and NYSE EuroNext is blessed by the SEC. After this occurs, all Vanguard ETFs will be traded on the Arca (Vanguard has four other ETFs that currently trade on NYSE Arca).

Company Press Release

VALLEY FORGE, Pa.--(BUSINESS WIRE)--Vanguard announced today that it will transfer 34 Vanguard ETFs™ to the NYSE Arca listing and trading platform. The move of the Vanguard ETFs, which have been listed on the American Stock Exchange (Amex) since their inception, is a result of, and is contingent upon, the merger of Amex and NYSE EuroNext, the holding company for NYSE Arca. The ETFs will begin trading on NYSE Arca after the merger between the two exchanges has been given final approval by the SEC.

The other four of Vanguard’s 38 ETFs – Vanguard® Mega Cap 300 ETF, Vanguard Mega Cap 300 Growth ETF, Vanguard Mega Cap 300 Value ETF and Vanguard Total World Stock ETF – currently trade on NYSE Arca.

"We're looking forward to listing all Vanguard ETFs on the Arca exchange, which continues to make significant strides in picking up ETF trading market share,” said Gus Sauter, Vanguard's chief investment officer. “Arca has a robust electronic platform with an innovative market-making function and a strong commitment to the development of its ETF business."

Vanguard is a leader in the ETF marketplace, offering 38 stock and bond ETFs. Vanguard’s ETF assets grew 62% over the past year ended May 2008, to nearly $51 billion in total assets. The average expense ratio of Vanguard ETFs is 0.16%, which is one-third the industry average expense ratio of 0.48% (according to December 31, 2007, figures from Lipper Inc.). Vanguard ranks among the top ETF providers in cash flow, with year-to-date cash flow through June of more than $10 billion (source for industry data: Amex and Bloomberg).  

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