Even where collateral is obtained by an ETF, it is subject to the collateral provider fulfilling its obligations.
交易所买卖基金即使取得抵押品，也需依靠抵押品提供者履行责任。
The Collateral Provider, or Pledgor, requests that the Pledgee switches Collateral it holds for a different agreed type.
担保的提供人或者出质人就要求质权人将其持有的担保品转换为另一种双方同意的类型。
So the ETF provider requires the bank to provide collateral (see diagram).
因此etf提供者要求银行提供抵押担保(见表)。
The bank now has to manage the risk of replicating the index; the provider faces the risk that the bank might go bust. So the ETF provider requires the bank to provide collateral (see diagram).
银行同意支付该供应商相当于被选基准指标比如新型市场指数的收益，供应商则将现金移交作为交换，然后银行就要负责复制指数的风险管理，供应商的风险在于银行有可能破产，所以ETF供应商会要求银行提供担保品（见图）。
The bank now has to manage the risk of replicating the index; the provider faces the risk that the bank might go bust. So the ETF provider requires the bank to provide collateral (see diagram).
银行同意支付该供应商相当于被选基准指标比如新型市场指数的收益，供应商则将现金移交作为交换，然后银行就要负责复制指数的风险管理，供应商的风险在于银行有可能破产，所以ETF供应商会要求银行提供担保品（见图）。
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