仕組み | ETF | 日本取引所グループ
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仕組み | ETF | 日本取引所グループ
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This page explains the structure of ETFs. ETFs are created through a "setting" process where designated participants (securities companies) contribute physical stocks or funds to obtain ETFs, and an "exchange" process where institutional investors exchange ETFs for physical stocks with securities companies. Individual investors purchase ETFs in small quantities through the market. Five types of management methods exist: equity basket type, fund-of-funds type, linked bond type, derivatives type, and physical commodity type. Designated participants play a crucial role in the ETF structure.
