exchange_traded_products
Listing Exchange Traded Products on Nasdaq?
Everything you need to know is now in one place
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Listing Exchange Traded Products
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Exchange Traded Products (ETPs) are traded on Nasdaq's Global Market and must meet the applicable listing requirements set forth in the 5700 series of Nasdaq's Listing Rules. These ETP-related Nasdaq Rule Filings and Information Circulars may also serve as a valuable resource.
The fee schedule for Exchange Traded Funds (Active and Passive), Exchange Traded Notes, Linked Securities and NextShares are detailed below. Please refer to the 5900 series of the Nasdaq's Listing Rules regarding fees for other types of ETPs.
For more information on the listing process, rules, requirements, and fees relating to ETPs, please take a few minutes to view our frequently asked questions.
Please don't hesitate to contact us at +1 301 978 8008 or ETP_Regulation@nasdaq.com. We are here to help.
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All the forms required for listing ETPs can be completed electronically through the Listing Center. The Listing Center streamlines the preparation of listing applications and forms, making the listing review and approval process more efficient by pre-populating certain fields, allowing companies to upload supporting documents, and sign forms electronically. And since we can collect much of the information needed to verify compliance from publicly available sources, we have minimized the documentation you need to provide Nasdaq.
For your convenience, you can review applications and forms in preview mode. This allows you to gather the information you need without creating an account or logging in.
To complete forms electronically, users must have an account with the Listing Center. To create a new account, please follow these instructions.
Once you are logged in to the Listing Center, go to the "Create a New Form" tab and follow the prompts to complete the Listing Application for Companies Seeking to List an Exchange Traded Fund or Other Structured Product. For assistance with creating an account and completing the application, please refer to this guide.
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Exchange Traded Products, including actively- and passively-managed Exchange Traded Funds (ETFs) and Exchange Traded Notes, must meet certain listing requirements to remain listed on Nasdaq. Nasdaq has developed a guide, which can be found here, to provide an overview of the requirements applicable to ETF issuers and of Nasdaq's compliance program.
In January 2017, the SEC approved new continued listing standards for ETPs. These rules adopt as continued listing standards certain of the existing initial listing standards and clarify that ETPs are subject to Nasdaq's rules requiring notification of non-compliance with a listing standard. The approval order can be found here. The new continued listing standards will be effective January 1, 2018.
In order to monitor compliance with these new requirements, Nasdaq will collect certain data from ETP issuers regarding the index or reference asset underlying the ETP. ETPs will need to submit index or portfolio component data on a quarterly basis based on the fund's fiscal year end or in connection with an index rebalance or reconstitution. In addition, ETPs listed pursuant to a product-specific rule filing under Rule 19b-4 will also be required to submit an annual compliance certification to Nasdaq. It is our goal to utilize technology powered by the Nasdaq Listing Center to make this process as efficient as possible. After reviewing this information, if you have questions, please contact us at +1 301 978 8008 or ETP_Regulation@nasdaq.com.
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Listed Pursuant to Generic Standards (Passive ETFs and ETNs)
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Index Component File
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Listed Pursuant to Generic Standards (Active ETFs)
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Portfolio Component File
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Listed Pursuant to Product Specific Rule Filing
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Portfolio Component File
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Annual Compliance Certification
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The component files will be due 30 calendar days following the end of the fund's fiscal quarter and the annual compliance certification, if applicable, will be due 30 calendar days following the fund's fiscal year-end. For example, a passive ETF with a fiscal year end of January 31, 2018 would submit the index component file based on the following schedule:
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| Period End Date |
Due Date |
| January 31, 2018 |
March 2, 2018 |
| April 30, 2018 |
May 30, 2018 |
| July 31, 2018 |
August 30, 2018 |
| October 31, 2018 |
November 30, 2018 |
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Nasdaq will send an email reminder 30 days prior to the ETPs period end date indicating when the submissions are due. In lieu of submitting the quarterly component file, issuers can submit an index component file following an index rebalance or reconstitution if the rebalance or reconstitution took place within the fiscal quarter. Issuers who submit this file in connection with a rebalance or reconstitution do not have to submit a separate component file for the same quarter. Issuers can submit component information and annual certifications using the Nasdaq Listing Center by completing the Company Event Form. ETP sponsors must use our template for submitting index or portfolio component data.
For assistance with this form, please refer to this guide. An updated version of the ETP compliance guide detailing the new continued listing standards and processes can be found here.
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The fee schedule for ETFs (Active and Passive), ETNs and NextShares are below. Please refer to the 5900 series of the Nasdaq's Listing Rules or contact Nasdaq for information regarding fees for other types of ETPs.
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Exchange Traded Funds
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$1,000 per product (non-refundable)
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Up to 1 million shares
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$
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6,500
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| 1+ to 2 million shares |
$ |
7,000 |
| 2+ to 3 million shares |
$ |
7,500 |
| 3+ to 4 million shares |
$ |
8,000 |
| 4+ to 5 million shares |
$ |
8,500 |
| 5+ to 6 million shares |
$ |
9,000 |
| 6+ to 7 million shares |
$ |
9,500 |
| 7+ to 8 million shares |
$ |
10,000 |
| 8+ to 9 million shares |
$ |
10,500 |
| 9+ to 10 million shares |
$ |
11,000 |
| 10+ to 11 million shares |
$ |
11,500 |
| 11+ to 12 million shares |
$ |
12,000 |
| 12+ to 13 million shares |
$ |
12,500 |
| 13+ to 14 million shares |
$ |
13,000 |
| 14+ to 15 million shares |
$ |
13,500 |
| 15+ to 16 million shares |
$ |
14,000 |
| Over 16 million shares |
$ |
14,500 |
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Exchange Traded Notes and Linked Securities
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| $1,000 per product (non-refundable) |
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| Up to 1 million shares |
$ |
5,000 |
| 1+ to 2 million shares |
$ |
10,000 |
| 2+ to 3 million shares |
$ |
15,000 |
| 3+ to 4 million shares |
$ |
17,500 |
| 4+ to 5 million shares |
$ |
20,000 |
| 5+ to 6 million shares |
$ |
22,500 |
| 6+ to 7 million shares |
$ |
25,000 |
| 7+ to 8 million shares |
$ |
27,500 |
| 8+ to 9 million shares |
$ |
30,000 |
| 9+ to 10 million shares |
$ |
32,500 |
| 10+ to 15 million shares |
$ |
37,500 |
| Over 15 million shares |
$ |
45,000 |
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| Up to 5 million shares |
$ |
15,000 |
| 5+ to 10 million shares |
$ |
17,500 |
| 10+ to 25 million shares |
$ |
20,000 |
| 25+ to 50 million shares |
$ |
22,500 |
| Over 50 million shares |
$ |
30,000 |
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NextShares
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$1,000 per product (non-refundable)
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| First Fund |
$ |
19,000 |
| Subsequent Funds (each) |
$ |
6,500 |
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| Up to 25 million shares |
$ |
6,500 |
| 25+ to 100 million shares |
$ |
15,000 |
| 100+ million shares |
$ |
25,000 |
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For your convenience, contact information for ETP Staff are provided below. If you are looking to contact other Nasdaq resources, please view our Contact Us page.
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For Questions about |
By Phone or Email |
Listing Qualifications -
Initial and Continued Listings |
ETP Listing Applications (including switches from other exchanges)
ETP initial and continued listing standards and processes
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Ben Haskell
Director, ETP Regulation
+1 301 978 8092
benjamin.haskell@nasdaq.com
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| ETP Listing Services and Sales |
ETP Listings
Benefits of a Nasdaq Liquidity Programs
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Paul Roland
Head of ETP Listings & Services
+1 215 496 5209
paul.roland@nasdaq.com Steve Oh
Director of ETP Listings & Services
+1 215 496 5117
steve.oh@nasdaq.com
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| Office of General Counsel |
ETP Rule Filings |
Jonathan Cayne
Senior Associate General Counsel
+1 301 978 8493
jonathan.cayne@nasdaq.com
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