The ETF Handbook: How to Value and Trade Exchange Traded Funds, + website

Acknowledgments.

Part One Introduction to the ETF Marketplace.

Chapter 1 Development of an ETF.

Market Access or Out-Performance?

Index Tracking or Actively Managed?

Underlying Assets.

Rebalancing and Index Changes.

ETF Basket.

Conclusion.

Chapter 2 Structure of an ETF.

Categorizing Exchange-Traded Products.

ETF Regulation.

Exchange-Traded Notes (ETNs).

Taxation.

When Structural Issues Arise.

Conclusion.

Chapter 3 Bringing an ETF to the Market.

Partnering with an Exchange.

Lead Market Maker.

ETF Incubation.

Comparing Fees by Structure.

Marketing and Launch.

Conclusion.

Chapter 4 Investment Companies, Now and in the Future.

In the Beginning, There Were Closed-End Funds.

Mutual Funds.

Actively Managed ETFs.

ETFs within the Portfolio.

Closing of ETFs.

Conclusion: The Future of ETFs.

Part Two Exchange- Traded Fund Valuation.

Chapter 5 ETFs with Domestic Constituents.

Calculating the Net Asset Value.

Discounts and Premiums.

Calculating the Intra-day Indicative Value.

Conclusion.

Chapter 6 ETFs with International Constituents.

International ETFs.

Providing Liquidity.

Conclusion.

Chapter 7 Fixed-Income and Currency ETFs.

Fixed Income.

Currency ETFs.

Conclusion.

Chapter 8 Leveraged, Inverse, and Commodity Products.

Introduction to Leveraged Products.

Understanding Inverse ETFs.

Commodity ETVs.

Conclusion.

Part Three ETF Trading and Execution.

Chapter 9 Trading Volumes and ETF Liquidity: Keys to Unlocking Value from the ETF Structure.

How is an ETF Different from a Stock?

A Brief Look at Equity Trading Volumes.

A Detailed Look at ETF Trading Volumes.

ETF Money Flows.

Conclusion.

Chapter 10 ETF Trading Business: Assessing and Providing Liquidity.

Trading Model.

Measuring Potential Available ETF Liquidity.

Requirements for an ETF Trading Business.

Conclusion.

Chapter 11: Execution: Handling Client Order Flow and Achieving Execution in ETFs.

Time Frames and Order Types.

Market Orders.

Limit Orders.

Algorithms.

Risk Markets (Utilizing Broker-Dealer Capital).

Creations and Redemptions.

Examples of Executions in the Market.

Conclusion.

Chapter 12: Market Participants and Their Trading Strategies.

Broker-Dealer Facilitation Desks.

Electronic Market Making.

Liquidity Aggregators.

Trading Strategies.

Conclusion.

Appendix A: List of ETF Issuers.

Appendix B: Research and Data Providers.

Appendix C: ETF-Related Web Sites and Blogs.

Appendix D: List of ETFs in Registration.

Notes.

About the Author.

Index.