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Natixis Investment Managers agrees license with NYSE for proposed actively managed ETF

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Natixis Advisors has secured a license to use the New York Stock Exchange’s methodology for operating an actively managed, periodically disclosed exchange-traded fund (ETF).

The proposed ETF would use the methodology to disclose on a daily basis a proxy portfolio designed to reflect the economic exposures and risk characteristics of the ETF’s actual portfolio at the end of the trading day. The proposed structure would allow market makers to effectively hedge their exposures and maintain reasonable bid/ask spreads for the ETF, while at the same time, mitigate the risk of front-running and free riding that could be detrimental to an actively managed ETF and its investors.
 
“We are always looking for innovative new ways to give investors convenient access to our actively managed strategies, so we are excited to partner with the NYSE to begin the process to bring this promising new technology to market,” says David Giunta, CEO for the US and Canada at Natixis Investment Managers.
 
Douglas Yones, Head of Exchange Traded Products for the NYSE, says: “The work of Natixis represents an important next step for the ETF community through a periodically disclosed active ETF solution. We embrace such opportunities to work with the ETF industry to spur innovation and product development that results in greater investor choice.”

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