Exchange-traded fund

Exchange-traded fund means a registered open-end management company:
(A) That issues (and redeems) creation units to (and from) authorized participants in exchange for a basket and a cash balancing amount if any; and
(B) Whose shares are listed on a national securities exchange and traded at market-determined prices.

Source

17 CFR § 270.6c-11


Scoping language

None
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