About this episode

The episode features Morley Conn discussing the mechanics of the ETF ecosystem and its operational intricacies.

In this episode, we are joined by Morley Conn, Director of Sales and Strategy, ETF Services at Scotia Global Banking and Markets, for a deep dive into the mechanics of the ETF ecosystem. With more than 30 years of experience across equities, foreign exchange, and money markets, Morley pulls back the curtain on the creation and redemption process, ETF liquidity, block trading, market making, and the often-overlooked infrastructure that allows ETFs to trade efficiently every day. We explore how authorized participants and market makers facilitate liquidity, why ETF liquidity is driven by the underlying holdings rather than trading volume, and how large institutional ETF trades are executed. Morley also explains the differences between Canadian and U.S. ETF markets, discusses common misconceptions investors have about ETF trading, and shares practical advice for retail investors seeking better execution. This conversation offers a rare look at the operational machinery behind one of the most important innovations in modern investing. Key Points From This Episode: (0:04) Introduction to Morley Conn and his role in ETF market making. (4:29) The key participants in the ETF ecosystem…

People in this episode

Hosts: Benjamin Felix, Cameron Passmore, Dan Bortolotti

Guest: Morley Conn

Topics covered

• ETF ecosystem
• liquidity
• market making
• Canadian ETFs
• trading execution

Keywords

• ETFs
• liquidity
• market makers
• authorized participants
• trading volume
• institutional trades
• Canadian ETF markets

Mentioned in this episode

Organizations: Scotia Global Banking and Markets, ETF Services

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