Creation / Redemption flow for Cash Creation/Redemption Type ETF 14:00
Daily Creation and Redemption are based on ETF’s NAV of one business after application (T+1) calculated in early evening. After subscription is received, ETF’s asset manager begins to take position. Basically sell/buy at last price of T day’s market while FX rate is TTM of one business day after the application (10am on T+1)
The flow chart below is showing the creation/redemption process for Nikko AM ETFs. Please note that transactions cannot be processed for days on which applications are not accepted.
Cash Creation/Redemption Type ETF
Redemption flow for cash Creation/Redemption Type ETF
|No||Code||Fund Name||cut-off time for |
application to Aps
|cut-off time for Aps'
|1||1547||Listed Index Fund US Equity (S&P500)||14：00||14：10|
|2||1548||Listed Index Fund China H-share (Hang Seng China Enterprises)||14：00||14：10|
|3||1549||Listed Index Fund CNX Nifty Futures (India Equity)||14：00||14：10|
|4||1566||Listed Index Fund Emerging Bond (Barclays Local EM)||14：00||14：10|
|5||1677||Listed Index Fund International Bond (Citigroup WGBI) Monthly Dividend Payment Type||14：00||14：10|
|6||1680||Listed Index Fund International Developed Countries Equity (MSCI-KOKUSAI)||14：00||14：10|