@yiming__ma Fascinating work! Would you be open to a conversation to discuss this a bit further with our team? We would really appreciate your expertise!
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StakeHaus
1 posts
StakeHaus
@StakeHaus
Reimagining index tokens and ETFs. We will announce our plans soon!
Katılım Ağustos 2021
21 Takip Edilen20 Takipçiler
Surprised to find that passive bond ETFs are everything but passive. They deviate from their index all the time to reduce arbitrage costs for authorized participants (big dealer banks). Seems that liquidity transformation does not come for free, even for ETFs!
NBER@nberpubs
In order to be passive and liquid, ETFs must be active, from @nazkoont, @yiming__ma, Lubos Pastor, and Yao Zeng nber.org/papers/w30039
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