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Student
Title
Supervisor
Faculty
Educational Programme
Final Grade
Year of Graduation
Elena Alferova
The Impact of ETFs on Liguidity of US Stock Market
2018
This paper examines the impact of increasing share of ETF funds on the liquidity of the US stock market in the period from 2009 to 2017. The spread, the effective spread, the illiquidity index and the trading volume divided by capitalisation were selected as liquidity measures. For all four measures a significant relationship with the share of ETF in the market was confirmed.

The study is interesting to government organisations, the Securities and Exchange Commission (SEC) and people involved in the study of macroeconomics.

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