Not all Public Offering of Fund can be traded on the exchange. Only ETF, LOF and graded funds can be traded on the exchange. Most funds apply for redemption over the counter, and the advantages of exchange trading are low transaction cost and good liquidity.

ExchangeTradedFund (ETF), also known as transactional open-end index fund, index stock fund and exchange traded fund, is an open-end fund with variable fund share listed on the exchange.

the listed open-end fund (LOF) refers to an open-end fund that is issued, listed and traded on the exchange, and can purchase or redeem fund shares in the OTC market as well as in the exchange (floor market).