Alternative exchange NEO is drawing 12 iShares BlackRock ETFs from the TSX.

BlackRock Asset Management Canada says in a release on Tuesday that it will move the common units and advisor class units of five iShares Funds, consisting of 12 ETF listings, to NEO. They will start trading on NEO starting in Q4 2016.

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“This decision marks the first time a Canadian ETF provider has switched listings from the TSX to an alternative exchange,” NEO says in a release. The exchange launched last year with an aim to deter predatory high-frequency trading.

BlackRock says NEO has become the second largest venue for ETFs in Canada, now regularly trading about 25% of all ETF trading volume.

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