The Exchange Traded Funds in Italy

Michele Leonardo Bianchi, Mariano Loddo and Maria Grazia Miele
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Michele Leonardo Bianchi: Banca d’Italia
Mariano Loddo: Banca d’Italia
Maria Grazia Miele: Banca d’Italia

BANCARIA, 2011, vol. 01, 90-102

Abstract: In recent years, there has been a considerable increase in Etfs’ trading on regulated markets. While the first Etfs merely replicated popular market indexes, recently more complex products (structured Etfs) have been launched by the major issuers. This article analyzes the different types of product, the market structure and the differences with traditional investment funds. The analysis also provides some considerations on the stability and efficiency of the market, and on the competitiveness of these products with respect to traditional open-end funds.

Keywords: exchange traded funds; index funds; market microstructure; structured products (search for similar items in EconPapers)
JEL-codes: C10 G10 G23 (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:ban:bancar:v:01:y:2011:m:january:p:90-102

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