PT  - JOURNAL ARTICLE
AU  - Timothy F. Ryan
AU  - Jeanne Follet
TI  - Are ETFs Liquid Securities?
DP  - 2001 Sep 21
TA  - ETFs and Indexing
PG  - 106--110
VI  - 2001
IP  - 1
4099  - http://guides.pm-research.com/content/2001/1/106.short
4100  - http://guides.pm-research.com/content/2001/1/106.full
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.