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Matheson Update: ISE Rule Change for Actively Managed ETFs
With effect from 18 November 2014, the Irish Stock Exchange (“ISE”) has amended its listing rules to remove the requirement for actively managed Exchange Traded Funds (“ETFs”) to provide daily updates on their portfolio holdings.
Ireland is considered a domicile of choice for most of the world’s leading ETF promoters with the number and range of ETFs in Ireland expanding considerably over recent years. This change now brings ISE listing rules in line with current Irish and European regulatory requirements and the listing requirements of other European jurisdictions.
Matheson made a significant contribution to this rule change, providing insight on market practice and feedback from our clients, through various discussions and written submissions to the ISE. We welcome this amendment and believe the change will assist Ireland in significantly enhancing its attractiveness as a jurisdiction of choice for managers of actively managed ETFs.