New Invesco ETF Launches on NEO
Invesco Canada Ltd. (“Invesco”), including PowerShares Canada Vice President of Product and Business Development, Christopher Doll, joined Erik Sloane, Head of Business Development, Funds at NEO, to open the market in celebration of the new PowerShares 1-10 Year Laddered Investment Grade Corporate Bond Index exchange-traded-fund (ETF), represented by the ticker PIB, launching on the NEO Exchange. PowerShares ETFs seek to outperform traditional benchmark indexes while providing advisors and investors access to an innovative array of focused investment opportunities. The new PowerShares ETFs commenced trading on the NEO Exchange on September 12, 2017.
Toronto – September 27, 2017 – Aequitas NEO Exchange Inc. (“NEO Exchange” or “NEO”) is pleased to announce that Invesco Canada Ltd. (“Invesco”) has once again expanded its presence on the NEO Exchange with the launch of a new exchange traded fund (ETF). Invesco received final approval from NEO and Canadian securities regulators to launch the PowerShares 1-10 Year Laddered Investment Grade Corporate Bond Index ETF. The new fund, represented by the ticker PIB, began trading on September 12, 2017.
“This new ETF is designed to provide investors with low-risk growth through exposure to primarily Canadian investment-grade corporate bonds,” said Christopher Doll, Vice President, Product and Business Strategy, PowerShares Canada. “We are pleased to be adding another NEO-listed product to our lineup as we continue to implement our multi-venue listing strategy that ultimately provides greater efficiency and costs savings for our clients.”
“Invesco has proven to be an exceptional partner from our inception because of their belief in competition, and dedication to a better Canadian capital market landscape for all investors,” stated Jos Schmitt, President and Chief Executive Officer, NEO Exchange. “We are delighted to see Invesco renew its commitment to NEO today, not on the strength of our relationship, but on the strength of our service and ability to promote liquidity for, and access to, investment products. Invesco’s decision to return to us speaks to the growing momentum we have been building in both ETF listings and ETF volume traded.”
This marks the third time Invesco has selected NEO as its listing exchange to launch new funds, bringing the number of PowerShares ETFs listed on NEO to four. After only two years of full operations, NEO is home to 25 funds, comprised of 42 different symbols from six ETF providers. In August, NEO facilitated close to 20% of all ETF volume traded in Canada, with about half in continuous trading.
“Our ETF track record, achieved over such a short period of time, has established us as a leading marketplace in Canada’s ETF ecosystem and demonstrates that by doing what is right for investors and companies seeking to raise capital is a winning proposition,” continued Jos Schmitt.
For a complete view of NEO-listed securities, please visit: https://www.aequitasneo.com/en/exchange/neo-listed-securities
About NEO Exchange
Aequitas NEO Exchange Inc. is a new Canadian stock exchange using a bold new blueprint that puts investors, businesses looking to raise capital and dealers first. Launched in March 2015, the NEO Exchange currently offers an innovative trading venue and a value added listing venue for capital raising companies and investment products. The NEO Exchange is a wholly owned subsidiary of Aequitas Innovations Inc., a company founded by a diverse group of prominent investors representative of all Canadian capital market stakeholders.