全球ETF发展趋势和未来方向

The Trend and Direction of ETF Development around the World

本文介绍了全球ETF市场最新发展状况、不同国家(地区)的运作体系、套利条件、参与机构的角色及ETF的结构性问题。文中着重讨论了ETF在金融海啸中所凸现的安全性问题及相应解决之道,最后探讨了主动型ETF的发展前景、ETF市场的竞争与完善及ETF跨市场交易状况,对未来全球特别是中国大陆、香港、台湾ETF市场的巨大发展潜力作了展望。

This paper introduces the most updated development in global ETF market. Different countries＇ operating system, arbitrage condition, and roles of participating institutions, as well as the structural problems are discussed. On basis of that, this paper analyzes the security problems disclosed in the financial tsunami and tries to provide solutions. Moreover, we explore the prospects of active ETFs, the competitions and improvement of the ETF market and cross- market transaction of ETFs, as well as the strong potential of development of global ETF markets, especially those of China, Hong Kong and Taiwan.