Bats Global Markets, Inc. (Bats: BATS), the #1 U.S. market for exchange-traded fund (ETF) trading, today welcomed Tortoise as a new issuer to the Bats ETF Marketplace.
The Tortoise Water Fund (Bats: TBLU) seeks investment results that correspond generally to the price and distribution rate (total return) performance of the Tortoise Water Index. Companies included in the index are materially engaged in the water infrastructure or water management industries. Additional information is available here.
Laura Morrison, Senior Vice President, Global Head of Exchange-Traded Products at Bats, said: “By deploying their extensive industry expertise and research across essential assets, Tortoise has opened up an entire asset class to all sorts of investors, who can now truly evaluate the performance and growth characteristics of the water industry.”
She added: “Like Bats, Tortoise is headquartered in Kansas City and we are thrilled to welcome a hometown issuer to the Bats ETF Marketplace.”
“We believe that our fund offers the purest exposure to the water industry by tracking an index that incorporates fundamental weighting factors that recognize and adjust for the fragmented nature of the water space,” said Matthew Weglarz, Tortoise’s Portfolio Manager for the fund.
In January, Bats welcomed 13 ETFs to its U.S. market. In the fourth quarter of 2016, Bats welcomed a total 34 ETFs from 13 providers.
Bats remained the largest exchange operator for U.S. ETF trading over 2016 and won 30% of all new U.S. ETF listings vs only 9% for 2015. Including transfers from competitor venues, Bats welcomed 85 ETF listings to its U.S. market, an increase of 145% over 2015. During the year, Bats won 17% of ETF switches.
There are now 151 ETFs listed on Bats ETF Marketplace, from 27 different issuers.
Additional information regarding listing and trading on the Bats ETF Marketplace is available on ETFMarketplace.com. ETF issuers interested in joining the many firms listing on Bats may email listings@bats.com.
