BlackRock is seeking regulatory approval for its iShares ETFs to follow its proprietary indexes rather than those developed by third parties, Bloomberg reports. The application filed by iShares with the U.S. Securities and Exchange Commission would allow future and existing funds to use in-house indexes the firm will create. The indexes will be created and provided by a BlackRock subsidiary or division. BlackRock Fund Advisors or an affiliate would pay the indexing subsidiary a licensing fee on behalf of funds that use its benchmarks. All of iShares index funds currently track benchmarks provided by firms such as Standard & Poor’s and MSCI.

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