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The value of investments can fall as well as rise, and you may get back less than you invested. Past performance is no guarantee of future results.

An authorised participant (AP) is a recognised body that has a relationship with an ETF provider to create or redeem exchange traded funds (ETFs). Most APs are market makers or large investment houses.

Authorised participant definition

An authorised participant (AP) is a recognised body that has a relationship with an ETF provider to create or redeem exchange traded funds (ETFs). Most APs are market makers or large investment houses.

An authorised participant has the ability to approach an ETF provider with either:

  • The exact number of securities which the ETF provider uses to make an ETF, which the AP will exchange for the ETF itself
  • An ETF, which the AP will exchange for the underlying securities which make up the ETF.

Typically, these exchanges are done in blocks referred to as creation units.

 

Learn more about ETFs

Find accumulated distribution ETFs using our ETF screener or learn more about ETF trading with IG.

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