Global Markets
Tradable Products
Featured Products
Primary Listings Average National Best Bid & Offer Spreads
Volume Market Share by Exchange Group
Cboe Internal Data over January 2022.
Though similar to a standard ETF in terms of affordability, tax advantages and liquidity, Semi-Transparent ETFs are only required to disclose holdings quarterly, like mutual funds. This disclosure method enables asset managers to take advantage of the liquidity and tax-advantage benefits of the ETF structure, while keeping their proprietary strategy hidden to protect shareholders.
*The above chart briefly exemplifies some of the advantages of the Semi-Transparent ETFs. It is not intended to be a full explanation.
As issuers' products mature and increase in volume, issuers' listing fees decrease.
(shares/day)
$5,000
(shares/day)
$5,500
(shares/day)
$6,000
(shares/day)
$7,000
Issuers that transfer to Cboe will pay a flat annual listing fee.
Products that require a 19b-4 filing will be charged a one-time fee of $7,500 per product. If products do not require a 19b-4 filing, then the Annual Listing Fees are the only applicable fees.
Annual Listing Fees for series of ETPs that are designed to provide a particular set of returns over a specified outcome period based on the performance of an underlying instrument during the ETP's outcome period will be capped at $16,000 per year.
Holistic support for your products long past launch from Cboe's legal, marketing and listing specialists, all with decades of ETP-specific expertise.
Growth in Semi-Transparent ETFs over the years
How markets are made with Semi-Transparent ETFs
A new era of investing
