We offer a wide range of warrants which are available to trade in the market. A warrant is a financial instrument issued by a bank or financial institution (known as “Warrants Issuers”), which may be issued over a range of underlying assets, including, domestic and oversea shares, baskets of shares or an index.
Everbright Securities International ("EBSI") has been at the forefront of securities broking for more than 50 years, providing both Asian and worldwide securities broking services that cover Asia and major markets all over the world. We offer a wide range of tradable warrants.
Warrants may be issued over a range of underlying assets, including, domestic and oversea shares, baskets of shares or an index. A range of factors may affect the prices of warrants, including the current prices of underlying shares, implied volatility or time value, etc. For further details, please click the following links to different Warrants Issuers.
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We offer three sophisticated trading platforms for trading Hong Kong shares:
Subscription warrants are issued by listed companies and give holders the right to buy the underlying shares of the companies.
Derivative warrants are issued by financial institutions. Unlike subscription warrants which must be call warrants, derivative warrants can be call or put warrants.
Compared with stocks, warrants have more attributes, including:
Warrant Issuer: Company which issues the warrants. It can be a listed company (in the case of “subscription warrants”) or a third party such as a financial institution (in the case of “derivative warrants”)
Underlying asset: It can be a single stock, a basket of stocks, an index, a currency, a commodity or a futures contract (e.g. oil futures) etc
Types of embedded rights : A call warrant gives you the right to buy the underlying asset at a pre-set price; a put warrant gives you the right to sell the underlying asset at a pre-set price
Exercise price: The price at which you buy or sell the underlying asset when exercising a warrant
Conversion ratio: This refers to the number of units of the underlying asset exchanged when exercising a unit of a warrant
Expiry date: The date on which a warrant will expire and become worthless if the warrant is not exercised
Exercise style: With an American warrant, you can exercise it to buy or sell the underlying asset on or before the expiry date; a European warrant allows it to be exercised only on the expiry date
Investments involve risk. Please click here for the Risk Disclosure Statements.
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