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The liquidity of an Exchange traded funds (continuous quoting prices and little bid-ask spread) is guaranteed by the presence on the trading platform of two subjects:

- Official specialist: it places compulsorily bid and ask orders which have a maximum spread (percentage distance between bid and ask price) and a minimum quantity. Each ETC/ETN listed has one official specialist.
- Liquidity provider: it provides liquidity by placing bid and/or ask orders for its own account, but it haven’t obligation in term of minimum quantity and maximum spread. Each ETC/ETN can have one or more liquidity providers.

For more info please refer to the sections at the top of the page.