AP do trade in secondary market right
…when price of etf is less than nav AP buy it from retailers in secondary market and then redeem it with ETF manager
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But here it’s written that ap don’t trade in secondary
ETF portfolio
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Yes Sir has also addressed the same in the review class of the ETF that it is written in the core that authorise participants do not trade in the secondary market but they to carry out this trade about which you have mentioned so what we have to do is we should just remember it and keep it in our heads that according to the core even though this trade takes place but we have to remember it we have to learn it by heart that authorise participants do non-trade in the secondary market and the only trade in the primary market with the ETF sponsor or ETF manager.