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The Exchange Traded Funds in Italy

Author

Listed:
  • Michele Leonardo Bianchi

    (Banca d’Italia)

  • Mariano Loddo

    (Banca d’Italia)

  • Maria Grazia Miele

    (Banca d’Italia)

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.

Suggested Citation

  • Michele Leonardo Bianchi & Mariano Loddo & Maria Grazia Miele, 2011. "The Exchange Traded Funds in Italy," BANCARIA, Bancaria Editrice, vol. 1, pages 90-102, January.
  • Handle: RePEc:ban:bancar:v:01:y:2011:m:january:p:90-102
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    File URL: http://www.bancariaeditrice.it/prodotti/vedi/prodotto/id/2443/bancaria-n-1-2011
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    More about this item

    Keywords

    exchange traded funds; index funds; market microstructure; structured products;
    All these keywords.

    JEL classification:

    • C10 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - General
    • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors

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