We all know now, or should know, about the glitch ProShares
experienced Friday that kept the firm temporarily from issuing new units of 11 ETFs.
The news caught the attention of a number of outlets, including SeekingAlpha
, Wall Street Journal
Brendan Conway reports
that ProShares declared that the glitch was the result of some problems in paperwork. The firm further declared that the issuance problem was resolved, but Conway writes that the paperwork problem itself must be resolved.
Such snags are a big deal because these ETFs are marketed as vehicles for traders to conduct hedges and other quick -- a big stress on quick -- and strategies like arbitraging.
The glitch, albeit temporary, probably put an annoying cramp in the style of some traders.
As ETFs grow more into the vehicle of choice for many traders, undoubtedly fund firms will come up with new tricks to remove future speed bumps.
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