RT Journal Article
SR Electronic
T1 Are ETFs Liquid Securities?
JF ETFs and Indexing
FD Institutional Investor Journals
SP 106
OP 110
VO 2001
IS 1
A1 Timothy F. Ryan
A1 Jeanne Follet
YR 2001
UL http://guides.pm-research.com/content/2001/1/106.abstract
AB The recent expansion of ETFs in the world and especially in Europe is driven by the growing interest of investors, but more by the liquidity of these tools. To demonstrate this attribute, the authors examine the liquidity mechanism of ETFs, the so-called in-kind subscription/redemption mechanism. It helps to explain why ETFs are such highly liquid instruments. ETFs are thus more than just alternative index funds and derivatives products.