The ETF Handbook, Second Edition, How to Value and Trade Exchange Traded Funds by Abner, David J. -- Read -- Imperial Library of Trantor

Index

Cover Title Page Copyright Table of Contents Dedication Preface

ETFs in the Real World What You Will Find in This Book As You Begin Disclaimer

Acknowledgments Introduction

Questions Asked about ETFs

Part One: Introduction to the ETF Market Place

Chapter 1: How Did We End Up Here?

The History of Investment Products In the Beginning, There Were Closed-End Funds Mutual Funds The Creation of the ETF Conclusion Notes

Chapter 2: Steps for Developing an ETF

Market Access or Outperformance? Index Tracking or Actively Managed? Underlying Assets Rebalancing and Index Changes ETF Basket Conclusion Note

Chapter 3: Giving an ETF Life in the Markets

Partnering with an Exchange Specialists and Lead Market Makers ETF Incubation Distribution Closing of ETFs Conclusion Notes

Part Two: ETF Trading and Execution

Chapter 4: Trading Volumes and ETF Liquidity

ETFs Trade Dramatically Different than Stocks A Brief Look at Equity Trading Volumes A Detailed Look at ETF Trading Volumes ETF Money Flows—Don't Judge an ETF by Its Size Where Money Flows Can Steer You Wrong Money Flows of the Buyers Money Flows of the Sellers Looking at CEF vs. ETF Money Flows Looking at MF vs. ETF Money Flows Conclusion

Chapter 5: Volume ≠ Liquidity—Understanding ETF Implied Liquidity

Trading Model ETF Implied Liquidity ETF Implied Liquidity: Implied Daily Tradable Shares The ETF Basket Implied Liquidity Scale (EBILS) Typical Tools of ETF Market Making Conclusion Notes

Chapter 6: Execution

Time Frames and Order Types Market Orders Limit Orders Stop-Loss and Stop-Limit Orders Algorithms Risk Markets (Utilizing Broker-Dealer Capital) Creations and Redemptions Examples of Executions in the Market The 10 Keys to Trading ETFs Notes

Chapter 7: Market Participants and Their Trading Strategies

Broker-Dealer Facilitation Desks Electronic Market Making Liquidity Aggregators Trading Strategies Conclusion Note

Chapter 8: Market Structure and ETFs—Protecting Your Portfolio from Flash Crashes

Flash Crash II: August 24, 2015 Adjusting Investor Behavior The Original Flash Crash: May 6, 2010 Summary Notes

Part Three: ETF Valuation

Chapter 9: ETFs with Domestic Holdings

Calculating the Net Asset Value Discounts and Premiums Calculating the Intraday Indicative Value Conclusion

Chapter 10: ETFs with International Constituents

International ETFs Providing Liquidity Conclusion

Chapter 11: Fixed-Income and Currency ETFs

Fixed Income Innovations in Fixed-Income ETFs Conclusion

Chapter 12: Leveraged, Inverse, and Commodity Products

Introduction to Leveraged Products Understanding Inverse ETFs Commodities Conclusion Note

Chapter 13: Structure of an ETF

Categorizing Exchange-Traded Products ETF Regulation Exchange-Traded Notes Taxation When Structural Issues Arise Credit Limits at Broker-Dealers When Markets Undergo Closures Conclusion Notes

Appendix A: Bloomberg ETF Reference Guide

Section 1: Bloomberg ETF Basics Section 2: Finding ETFs Section 3: Analyzing ETFs Section 4: Holdings Analysis Section 5: ETF Trading

Appendix B: ETF Issuers Appendix C: An Overview of the Japanese ETF Market

Summary Japan's ETF Market Categories and Types of Japanese ETFs Issues ETF Investors in Japan Overseas ETFs Notes

Appendix D: An Overview of European ETF Market

The European ETF market Notes

About the Author Index End User License Agreement