{"id":1701,"date":"2021-12-16T06:31:02","date_gmt":"2021-12-16T11:31:02","guid":{"rendered":"https:\/\/acjt.ca\/?p=1701"},"modified":"2021-12-16T06:31:56","modified_gmt":"2021-12-16T11:31:56","slug":"eft-and-etf","status":"publish","type":"post","link":"https:\/\/acjt.ca\/en\/juriscribe\/eft-and-etf\/","title":{"rendered":"EFT and ETF"},"content":{"rendered":"

 <\/p>\n

EFT and ETF<\/strong><\/h2>\n

Barbara McClintock, MA, Certified Translator and Certified Terminologist*<\/strong><\/p>\n

Here\u2019s a way to avoid confusing the abbreviations EFT and ETF. First, let\u2019s look at electronic funds transfers (EFTs)<\/em>. The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) \u2013 Canada\u2019s anti-money laundering agency \u2013 receives reports on transfers above $10,000. Last year, according to FINTRAC, capital flows out of Hong Kong banks to Canada rose to their highest levels on record with about Can$43.6 billion in electronic funds transfers (EFTs).1.<\/sup><\/p>\n

\u201cThe agency has seen a steady increase in overall EFT reporting, consistent with global trends. . . And it\u2019s not just money.\u201d2.<\/sup> Transactions such as transfers via cryptocurrencies between financial institutions or under C$10,000 are not recorded by FINTRAC.<\/p>\n

Second, exchange traded funds (ETFs)<\/em> are purported to have started in Canada in 1990 according to Gary Gastineau, author of \u201cThe Exchange-Traded Funds Manual.\u201d3<\/sup> The first one was called the Toronto 35 Index Participation Units or Tips 35.4<\/sup> An ETF is a type of investment fund traded on a stock exchange similar to a mutual fund except that it is bought and sold throughout the day and the price varies like shares. Mutual fund transactions, on the other hand, are based on the end-of-day price. ETFs usually track a stock index or a bond index.<\/p>\n

Hint: If you remember that the last letter of ETF means fund, you won\u2019t confuse the two abbreviations.<\/p>\n

    \n
  1. Sarah Wu, \u201cHong Kongers shift billions abroad\u201d Montreal Gazette<\/em>, Saturday, March 27, 2021, p. NP1 https:\/\/www.reuters.com\/article\/us-hongkong-security-canada-insight-idUSKBN2BH3KR<\/a><\/li>\n
  2. Canada Calling https:\/\/financialpost.com\/pmn\/business-pmn\/canada-calling-hong-kong-residents-shift-billions-abroad-after-clampdown<\/a><\/li>\n
  3. and 4. Investopedia https:\/\/www.investopedia.com\/articles\/exchangetradedfunds\/12\/brief-history-exchange-traded-funds.asp<\/a><\/li>\n<\/ol>\n

    *The opinions expressed in this article are solely those of the author.<\/p>\n

     <\/p>\n","protected":false},"excerpt":{"rendered":"

      EFT and ETF Barbara McClintock, MA, Certified Translator and Certified Terminologist* Here\u2019s a way to avoid confusing the abbreviations EFT and ETF. First, let\u2019s look at electronic funds transfers (EFTs). The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) \u2013 Canada\u2019s anti-money laundering…<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20,13],"tags":[],"class_list":["post-1701","post","type-post","status-publish","format-standard","hentry","category-bulletins","category-juriscribe"],"acf":[],"_links":{"self":[{"href":"https:\/\/acjt.ca\/en\/wp-json\/wp\/v2\/posts\/1701","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/acjt.ca\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/acjt.ca\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/acjt.ca\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/acjt.ca\/en\/wp-json\/wp\/v2\/comments?post=1701"}],"version-history":[{"count":2,"href":"https:\/\/acjt.ca\/en\/wp-json\/wp\/v2\/posts\/1701\/revisions"}],"predecessor-version":[{"id":1703,"href":"https:\/\/acjt.ca\/en\/wp-json\/wp\/v2\/posts\/1701\/revisions\/1703"}],"wp:attachment":[{"href":"https:\/\/acjt.ca\/en\/wp-json\/wp\/v2\/media?parent=1701"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/acjt.ca\/en\/wp-json\/wp\/v2\/categories?post=1701"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/acjt.ca\/en\/wp-json\/wp\/v2\/tags?post=1701"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}