Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Rochte On! SEC OKs Fido Not Rated 5.0 Email Routing List Email & Route  Print Print
Tuesday, May 14, 2013

Rochte On! SEC OKs Fido

Reported by Tommy Fernandez

And the starter pistol has been fired.

Fidelity [profile] recently received approval from the SEC to launch actively managed ETFs.

Fido has been quietly building up its capability in the ETF space. It hired in March 2012 former SSgA executive Tony Rochte to help launch the firm's ETF arm, dubbed SelectCo, in Denver.

Rochte has continued the buildup by hiring former Russell Investments exec Greg Friedman.

What is next for Fidelity and these active products?

A Fidelity spokesperson provided MFWire with this statement:

We are pleased that the SEC has issued an order granting our requested exemptive relief to operate actively managed ETFs.  That said, we continue to evaluate the product needs of our clients and it would be premature to discuss our ETF product plans at this time.  Until we file a registration statement(s) with the SEC for any of the products we are considering and the registration statement(s) become effective, we are limited under securities laws in what we can say until such time.

On a side note, it will be interesting to see who ends up serving as the market maker(s) of these products.

Currently, Knight Capital serves as the designated market maker for Fideltiy's sole ETF, the Fidelity Nasdaq Composite Index® Tracking Stock Fund.

Fidelity launched its first ETF in 2003 as part of a strategy led by then=top-Fidelity executives Bob Reynolds and .

Of course, Reynolds had since gone over to Putnam. Carney himself has gone through a number jobs, including a new gig at MacKenzie.  

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

5.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2024: Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use