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In return, it transfers a bundle of securities, based on the index the fund is tracking, to the manager (this bundle is known as the creation basket).
If the ETF is shrinking (more people want to sell than to buy), then the AP sells creation units to the fund manager and receives in return a bundle of securities known as the "redemption basket".The AP can also keep the price of the fund in line with its assets through arbitrage.
"We did not simply accept an offer to buy a bundle of securities - we forced the bidder to compete with other potential buyers," Priest wrote.
When banks prepare to sell a bundle of securities -- mortgage loans, credit default swaps or other exotic financial products, for example -- they generally get a preliminary grade from a rating agency like Moody's or S&P.
Similar(52)
At the old Coulston facility, which has been transformed into a temporary sanctuary itself, a 13-year-old chimp named JJ clutched a bundle of security blankets while readying for lunch.
The S.E.C. and Goldman have tussled before, notably in 2010 when the agency sued the firm over a bundle of mortgage-backed securities known as Abacus 2007-AC1, whadh had been assembled to allow clients to bet against the housing market.
Security director Patrick Steele was a bundle of nerves.
I was getting coffee, then directing a bemused security guard on where to drop a bundle of papers when it happened, and I didn't even see it.
A bundle of stinking rags and flesh".
I'm a bundle of nerves".
It's a bundle of neuroses.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com