The Securities and Exchange Commission and New York University will host a forum in September to examine the fast growing market for exchange-traded products and its implications for investors.
The event, hosted by SEC’s Division of Economic and Risk Analysis and NYU’s Salomon Center for the Study of Financial Institutions, will bring together regulators, industry members, and academics for a half-day dialogue on September 8. It will kick off with welcoming remarks by Commissioner Michael Piwowar at 9:15 a.m. and conclude following remarks by Commissioner Kara Stein at 1:00 p.m.
Since the first exchange-traded product (ETP) was introduced in 1993, the ETP market has expanded to nearly 2,000 different securities holding more than $2.7 trillion of assets. While the first ETPs tracked stock-market indices, the market now includes ETPs that track other market indices as well as actively managed ETPs that invest in stocks, bonds, commodities, currencies, futures, options, and other derivative products.
“Exchange-traded products, once novel instruments, now account for nearly one-third of trading volume on U.S. exchanges. It is important that we examine the impact of these products on our markets and Main Street investors,” said SEC Chairman Jay Clayton. “We are pleased to collaborate with NYU on this event and I thank my fellow Commissioners for their participation.”