Hedge funds are increasingly the most active users of exchange-traded funds (ETFs), according to research by Greenwich Associates.
The study carried out in North America and Canada concluded as equity derivatives move into the mainstream, the use of liquid "flow" products like options, futures and ETFs has become ubiquitous among US institutions.
Greenwich Associates consultant Jay Bennett, says, "The 'flow' or highly liquid equity derivatives business is surging. Last year, the institutions
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