Vanguard is to transfer the listing of the USD36.7 billion Vanguard Total Bond Market ETF (BND) from NYSE Arca to Nasdaq on or about 26 July 2018.
Until that time, Vanguard Total Bond Market ETF will continue to trade on NYSE Arca. Clients should not expect any meaningful impact to their trading experience as a result of the transfer.
By moving BND to Nasdaq, Vanguard aims to achieve certain benefits, including trading and liquidity synergies among its suite of total bond market ETFs. Vanguard recently filed a preliminary registration statement for Vanguard Total World Bond ETF, which will invest primarily in two underlying ETFs: Vanguard Total Bond Market ETF and Vanguard Total International Bond ETF (BNDX). BNDX is currently listed on Nasdaq and it is anticipated that Vanguard Total World Bond ETF will also be listed on Nasdaq.
Vanguard is also seeking diversity in the exchanges on which its ETFs trade. By diversifying Vanguard’s ETF lineup across all three major US ETF exchanges, Vanguard seeks to mitigate operational risk and reduce exposure to potential exchange issues. Vanguard’s ETF Capital Markets team continually evaluates each product listing and its unique characteristics to select the optimal exchange for new and existing ETFs. Many of the US-domiciled ETFs sponsored by Vanguard remain listed on NYSE Arca as Vanguard continues to consider NYSE Arca a strong listing partner.