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Exchange-Traded Products as a Source of Network Risk

In: Market Tremors

Author

Listed:
  • Hari P. Krishnan

    (SCT Capital)

  • Ash Bennington

    (Real Vision TV)

Abstract

This chapter forms the backbone of our case studies in Chapters 5 and 6 . Here, we will describe how exchange-traded fundsExchange-Traded Funds (ETFs) and notes are constructed. Significantly, dealerbroker/dealers rebalancing for these products can increase risk within the financial network. When an ETFExchange-Traded Funds (ETFs) or ETN stops functioning relative to the benchmark, dealersbroker/dealers in the product can turn into Dominant Agents, distorting the distribution of returns. We will also investigate levered products, showing that outcomes can be disappointing in choppy markets.

Suggested Citation

  • Hari P. Krishnan & Ash Bennington, 2021. "Exchange-Traded Products as a Source of Network Risk," Springer Books, in: Market Tremors, chapter 0, pages 61-81, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-79253-4_3
    DOI: 10.1007/978-3-030-79253-4_3
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