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Listing Exchange-Traded Products

Listing Guide: Exchange-Traded Products May 2023 May 2023 Nasdaq, Inc. 1 Table of Contents Introduction .. 2 Listing Requirements .. 3 exchange traded fund Shares (6c-11 ETFs) .. 3 Ongoing Requirements exchange traded fund Shares .. 4 Passive ETFs .. 5 Ongoing Reporting Requirements Passive ETFs .. 9 Active ETFs .. 10 Ongoing Reporting Requirements Active ETFs .. 17 exchange traded Notes .. 18 Ongoing Reporting Requirements ETNs .. 23 Proxy Portfolio Shares .. 24 Ongoing Reporting Requirements Proxy Portfolio Shares .. 24 Managed Portfolio Shares .. 26 Ongoing Reporting Requirements Managed Portfolio Shares .. 26 Corporate Governance .. 28 Nasdaq Listing Center .. 29 Initial Listing Application .. 29 Continued Listing Submissions .. 29 Disclosure of Material News.

This guide was developed in order to provide issuers of Exchange-Traded Funds (“ETF”), Exchange-Traded Notes (“ETN”), and NextShares with an overview of the initial and continued listing program at Nasdaq. Although Nasdaq rules allow for

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