Article from:https://www.etfstream.com/articles/blackrock-to-drop-etfs-from-six-and-relist-on-retail-focused-swiss-exchange
BlackRock is relisting a portion of its SIX Swiss Exchange-listed ETF share classes onto the retail-focused BX Swiss as part of a broader consolidation aimed at concentrating trading where liquidity and execution are strongest.
The delisting spree will see 49 ETF ‘trading lines’ removed from Switzerland’s largest stock exchange, with 14 of these listings transferred to BX Swiss, a retail-focused stock exchange based in Berne and owned by the international Stuttgart Stock Exchange Group.
BlackRock will also delist 14 trading lines across Euronext Amsterdam, Tel Aviv Stock Exchange, Deutsche Boerse and the London Stock Exchange.
There are 2,299 ETFs currently listed on SIX Swiss Exchange versus 226 ETFs on BX Swiss spanning products from Amundi, BlackRock, Janus Henderson and DWS.
The affected ETFs include the Euro denominated accumulating share class of the $10.6bn iShares MSCI World SRI UCITS ETF (SUSW), the US dollar denominated accumulating share classes of the $7.8bn iShares Edge MSCI World Value Factor UCITS ETF (IWVL) and the $4.1bn iShares Edge MSCI USA Value Factor UCITS ETF (IUVL).
The delistings from the SIX Swiss Exchange and the relistings on the BX Swiss will take place on 15 December.
A spokesperson for BlackRock told ETF Stream: “We regularly review our fund ranges to ensure clients have access to efficient trading, strong liquidity and high-quality execution across our products.
“These changes reflect evolving investor demand and are designed to concentrate trading across a smaller number of exchanges where liquidity and execution are strongest.”
SIX Swiss Exchange charges issuers based on the number of ETFs listed, with costs declining as listing volumes increase. Issuers listing between one and 10 exchange traded products (ETPs) pay CHF3,000 per product, while those listing more than 31 ETPs pay CHF500 per product.
Meanwhile, on BX Swiss each new ETF listing costs CHF 3,000 - a fee that includes maintenance for its first year - with total new listing fees capped at CHF 20,000 per issuer per calendar year.
