The ETF Handbook. How to Value and Trade Exchange Traded Funds by David Abner
Description
The first technical guide to ETFs targeted at professional advisors, institutional investors, and financial professionals seeking to understand the mechanics of ETFs
Author / trader Dave Abner created the ETF Guide as a resource for anyone using these sophisticated tools. Using this book as a guide, you will learn from a professional ETF trader with practical advice on valuation and best execution techniques.
This robust guide skillfully tackles the technical details of ETFs that are not covered elsewhere. From the mechanics of ETF development to pricing and valuation techniques, this guide provides comprehensive information on the mechanics of ETFs and offers a wealth of information on how to use them from a professional perspective. It looks at how to effectively position ETFs in a portfolio and also examines who the ETF users are and how these funds are used. Along the way, Abner also offers advice on where to find data related to these financial instruments.
Contains the technical ETF information today’s finance professionals need
Includes pricing and valuation spreadsheets and a training webinar that takes you through the world of ETFs
Covers topics such as NAV (Net Asset Value) calculation and ETF order flow best practices
Filled with insightful ideas and expert advice, the ETF Handbook contains ETF information that is critical to virtually every financial professional.
CONTENT
Foreword.
Confirmations.
Part one introduction to the ETF market.
Chapter 1 ETF Development.
Market access or exit?
Index tracking or active management?
fixed assets.
Balance and index changes.
Shopping cart data.
Output.
Chapter 2 ETF structure.
Classification of Exchange Traded Products.
Real-time regulation.
Exchange Traded Notes (ETN).
Taxation.
When Structural Problems Occur.
Output.
Chapter 3 Bringing ETFs to the Market.
Partnership with the exchange.
Leading Market Maker.
Real time incubation.
Comparison of fees by structure.
Marketing and launch.
Output.
Chapter 4 investment companies, now and in the future.
In the beginning there were closed-end funds.
mutual capital.
Actively Managed ETFs.
ETF in a portfolio.
The closure of exchange-traded funds.
Conclusion: the future of ETFs.
Part Two Evaluation of Exchange Traded Funds.
Chapter 5 ETFs with Internals.
Calculation of the value of net assets.
Discounts and bonuses.
Calculation of intraday indicative value.
Output.
Chapter 6 ETF with International Participants.
International ETFs.
providing liquidity.
Output.
Chapter 7 Fixed Income ETFs and Monetary Funds.
fixed income.
Currency ETFs.
Output.
Chapter 8 borrowed, reverse and commodity products.
An introduction to leveraged products.
Understanding Reverse ETFs.
Commodity ETV.
Output.
Part three is real-time trading and execution.
Chapter 9 of Trading Volume and Real-Time Liquidity: Keys to unlock value from structure in real time.
How is this real-time different from a stock?
A quick overview of stock trading volumes.
A detailed look at ETF trading volumes.
ETF cash flows.
Output.
Chapter 10 ETF Trading Business: Assessing and Providing Liquidity.
trading models.
Measuring the potential available liquidity of an ETF.
Business requirements for ETF trading.
Output.
Chapter 11: Execution: Processing Client Order Flow and Achieving Execution in ETFs.
Time frames and types of orders.
market order.
limit order.
Algorithms.
Risk Markets (Use of Broker-Dealer Capital).
Creations and redemption.
Examples of executions in the market.
Output.
Chapter 12: market participants and their trading strategies.
Brokerage and Dealer Assistance Bureaus.
Creation of the Electronic Market.
Liquidity Aggregators.
trading strategy.
Output.
Appendix a: list of ETF issuers.
Appendix c: research and data providers.
Appendix C: ETF related websites and blogs.
Appendix D: List of ETFs in Registration.
Entries.
about the author.
Index.
INFORMATION ABOUT THE AUTHOR
David J. Abner is director of institutional sales and trading at WisdomTree, an ETF issuer with a very broad client base of advisors and other investors. Prior to that, he worked at BNP Paribas, where from 2006-2008 he was Managing Director and Head of ETF Trading. From 1992-2006, Abner worked at Bear Stearns, where he traded index arbitrage, baskets, Asian equities and closed-end funds before heading up Bear’s ETF trading business. Abner often conducts workshops on various aspects of trading and investing with ETFs.
Financial Development Course
Financial development means certain improvements in obtaining information about possible investments and capital allocation, monitoring firms and implementing corporate governance, trading, diversification and risk management, mobilizing and pooling savings, facilitating the exchange of goods and services.
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Course Features
- Lectures 0
- Quizzes 0
- Duration Lifetime access
- Skill level All levels
- Language English
- Students 187
- Assessments Yes
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