FMB First Trust Managed Municipal

NASDAQ OMX today announced that First Trust launched a new exchange traded fund (ETF), First Trust Managed Municipal ETF (Nasdaq:FMB), which is listed on The NASDAQ Stock Market® (NASDAQ®). FMB began trading on NASDAQ on Thursday, May 15, 2014.

"We are thrilled to list the First Trust Managed Municipal ETF (FMB) on The NASDAQ Stock Market, where we can explore countless opportunities in municipal bonds," said Ryan Issakainen, Exchange Traded Fund Strategist and Senior Vice President at First Trust Portfolios L.P. "Given the potential for rising interest rates as a result of stronger economic growth, we believe that in the current market, positioning the fund along the intermediate portion of the yield curve, coupled with including bonds with lower investment grade ratings, provides investors less interest rate sensitivity than longer duration portfolios."

The ETF is managed by First Trust Advisors L.P. using a disciplined approach that focuses on a combination of quantitative analysis and fundamental research. Under normal market conditions, FMB seeks to achieve its objectives by investing at least 80% of its total net assets (including investment borrowings) in municipal debt securities. Active portfolio management allows the fund managers to make portfolio adjustments, as necessary as conditions change. FMB provides access to a portfolio of primarily investment grade municipal bonds, while offering daily liquidity and full transparency of holdings and pricing.

"We are pleased to launch FMB in conjunction with our good partners at First Trust," said Dave LaValle, Head of Exchange Traded Product Listings at NASDAQ OMX. "We appreciate First Trust's confidence in choosing the NASDAQ marketplace. We are committed to increasing the value of our partnership by continuing to fuel innovation in the listing and trading of exchange traded products and acting as thought leaders and pioneers in the industry."

NASDAQ OMX operates an efficient platform for successfully introducing a product suite into one of the single largest pools of liquidity, including market participants which represent a full spectrum of investors. ETF issuers benefit from an end-to-end solution that provides ongoing product support at every level including index licensing, listings opportunities, data offerings and trading services. As a home to the world's most innovative ventures, NASDAQ OMX generates opportunities for issuers to access new markets and deliver new concepts that change the way the industry develops, manages and applies ETFs.

About First Trust:

First Trust Advisors L.P., along with its affiliate First Trust Portfolios L.P., are privately held companies which provide a variety of investment services, including asset management and financial advisory services, with collective assets under management or supervision of approximately $91 billion as of April 30, 2014 through unit investment trusts, exchange-traded funds, closed-end funds, mutual funds and separate managed accounts. First Trust is based in Wheaton, Illinois. For more information, visit http://www.ftportfolios.com.

About NASDAQ OMX:

NASDAQ OMX (Nasdaq:NDAQ) is a leading provider of trading, exchange technology, information and public company services across six continents. Through its diverse portfolio of solutions, NASDAQ OMX enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today's global capital markets.  As the creator of the world's first electronic stock market, its technology powers more than 70 marketplaces in 50 countries, and 1 in 10 of the world's securities transactions. NASDAQ OMX is home to more than 3,400 listed companies with a market value of over $8.5 trillion and more than 10,000 corporate clients.  To learn more, visit www.nasdaqomx.com.

Cautionary Note Regarding Forward-Looking Statements

The matters described herein contain forward-looking statements that are made under the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements about NASDAQ OMX and its products and offerings. We caution that these statements are not guarantees of future performance. Actual results may differ materially from those expressed or implied in the forward-looking statements. Forward-looking statements involve a number of risks, uncertainties or other factors beyond NASDAQ OMX's control. These factors include, but are not limited to factors detailed in NASDAQ OMX's annual report on Form 10-K, and periodic reports filed with the U.S. Securities and Exchange Commission. We undertake no obligation to release any revisions to any forward-looking statements.

The First Trust Managed Municipal ETF not been passed on by NASDAQ OMX as to its legality or suitability, and it is not issued or sold by NASDAQ OMX. NASDAQ OMX MAKES NO WARRANTIES AND BEARS NO LIABILITY WITH RESPECT TO THE FIRST TRUST MANAGED MUNICIPAL ETF.

Nothing contained herein should be construed as investment advice from NASDAQ OMX, either on behalf of a particular financial product or an overall investment strategy. NASDAQ OMX makes no recommendation to buy or sell any financial product or any representation about the financial condition of any company or fund. Investors should undertake their own due diligence and carefully evaluate financial products before investing. ADVICE FROM A SECURITIES PROFESSIONAL IS STRONGLY ADVISED.

NDAQG

CONTACT: First Trust Media Contact:
         Ryan Issakainen
         +1 (630) 765-8689
         Rissakainen@FTAdvisors.com
         
         NASDAQ OMX Media Contact:
         Robert Madden
         +1 (646) 441-5045
         Robert.Madden@NASDAQOMX.com