Category: Money tips Release Date: 2007-05-12
To meet the needs of the Shenzhen Stock Exchange has introduced stock reform warrants investors enter the market to avoid price guide answers should pay attention to volatility risk, price risk of miscarriage of justice, timely, risk and compliance risk. Investors want to know the market now warrants a brief introduction notes.
1, the intervention procedures that required before?
A: The pre-trade investors to participate in warrants should first deal with agents warrants qualified securities companies about the necessary warrants trading common sense, to understand the risks of the product. Investors must enter into risky securities companies may participate in the book reveal the warrants trading.
2, What is the use of warrants trading account?
A: Investors should use the A share subscription warrants securities accounts, transactions and row of the right to declare. Investor A shares if you have opened a securities account do not need to re-open an account, you can use an existing A-share trading accounts warrants.
3, warrants and stock up fall What's the difference?
A: Warrants Up decline in the absolute decline in the price is up to limit, the calculation formula is as follows:
Warrants Up (or) increase the price = closing price the day before the C of E ± (the date of the underlying securities or the price - the underlying stock's closing price the day before) × 125% × line of the right proportion of
For example: A company's closing share price on certain warrants is 4 yuan, A company's closing stock price of 16 yuan. A company's stock up the next day up or down 10%, or 1.6 yuan; while the warrants the next day can be up or down the magnitude of (17.6-16) × 125% = 2 yuan, converted into decline in the proportion rose as high as 50%.
4, investors how the warrant is exercisable for?
A: Investors lines could be increased through exchange instructions to declare the right line, line the effective date of the right to order the same day can be withdrawn; day to buy the warrants, the right of the day may be OK; but the date of the subject line of the right to obtain securities, shall not be sold the same day are available at the time to sell a trading day.
Cash settlement, the warrant is exercisable for the settlement price for the 10 trading days before the right line of standard stock's closing price average.
Warrants expire the same day, the cash payment warrants are in-the-cards, automatically the right line, the holder required to declare their commands. Warrants are securities payment method, investors can choose the right of self-declaration line or in commissioned warrant before the expiration of the securities company for the right to apply for lines.
5, warrants expired and the last trading day is the same day?
A: It is not the same day, expiry date refers to the holders of warrants may be exercised to subscribe for (or sell) the right to the last date. The period after the warrant holder can not exercise the relevant rights, warrants the value becomes zero. Last Trading Day is the survivor warrant before the expiration of five trading days, such as the maturity date of T days, from T-4 began to suspend trading. After that date, investors can no longer be the sale of warrants, but still the right lines.
6, to the investors warrants to charge?
A: The warrant charges the standard reference to the fund, the Shenzhen Stock Exchange trading commissions provisional warrants does not exceed 0.3% of transaction amount, registration and settlement companies are exempted from charge transfer warrants transaction fees, line charges for the transfer of the securities the right to the face value of 0.05%, non-trading transfer fee of 10 yuan each, the final charges to the Shenzhen Stock Exchange and the Depository and Clearing Corporation issued an official document shall prevail. (Optical Army)
