Ekuiti
Waran berstruktur ialah instrumen hak milik yang dikeluarkan oleh penerbit pihak ketiga, iaitu broker yang layak atau institusi kewangan yang memberikan pemegang hak itu,tetapi bukan obligasi untuk membeli atau menjual instrumen pendasar pada masa hadapan bagi ketetapan harga. Pada asasnya, anda membuat "tempahan" untuk membeli atau menjual bilangan instrumen pendasar yang telah ditetapkan pada harga tertentu pada masa hadapan apabila anda melabur dalam waran berstruktur.
Waran berstruktur boleh dikeluarkan ke atas aset pendasar seperti saham, Dana Didagangkan Bursa (ETF), indeks atau sejumlah saham.
Jenis Waran Berstruktur
- Waran Panggilan
- Waran Put
- Sijil Bull/Sijil Bear (CBBC)
- View comparison of different types of Structured Warrants
Comparison of different types of Structured Warrants
Call Warrants Put Warrants Callable Bull/Bear Certificates (CBBC) Issuer Eligible brokers or financial institutions Underlying Instrument 1 underlying instrument (share, ETF or index) 1 underlying instrument (share, ETF or index) 1 underlying instrument (share, ETF or index) Dilution of underlying shares No new shares issued Expiry Period 6 months to 5 years 6 months to 5 years 3 months to 5 years Expiration date Fixed Fixed Fixed – also possible for early termination when the price/level of the underlying instrument reaches the ‘Call Price’. Settlement price/level at expiry Shares/ETF:-
Closing price 1 market day before expiry; OR 5-days volume weighted average before expiry; OR 5-day average closing prices before expiryIndex:- Index closing or average index levels or settlement price of index futures expiring in same month
At expiry:-
Shares/ETF:- Closing price 1 market day before expiry; OR 5-days volume weighted average before expiry; OR 5-day average closing prices before expiry
Index:- Index closing or average index levels or settlement price of index futures expiring in same month
Upon MCE:-
Shares/ETF:- Lowest/highest price of the underlying in the next trading session (Main Trading Phase)
Index:- Index level expiring in the same monthSettlement method Delivery of underlying shares or cash Cash only - How to identify the type of Structured Warrants?
Identify the type of Structured Warrants
Stock Code
You can differentiate the structured warrants with reference to the 5th character of the stock code.
The format of the stock code is as follows:-
- 1st 4 characters - stock code of the underlying share/ETF.
- 5th characters - type of structured warrants.
- 6th characters - sequence/number of listing.
The code representing the types of structured warrant are as follows:-
Code Type of Structured Warrants C Call Warrant H Put Warrant J CBBC – Callable Bull Certificate (Call) K CBBC – Callable Bear Certificate (Put) Examples:-
- Bursa Call Warrant would have the stock code "1818 CA" and stock short name "Bursa- CA".
- Bursa Put Warrant would have the stock code as "1818 HA" and stock short name "Bursa- HA".
- Bursa Callable Bull Certificate (CBBC Bull) would carry the stock code "1818 JA" and stock short name "Bursa- JA".
- Bursa Callable Bear Certificate (CBBC Bear) would carry the stock code "1818 KA" and stock short name "Bursa- KA".
Memberikan pemegang hak untuk membeli saham pendasar pada harga tertentu dalam tempoh masa yang terhad.
Memberikan pemegang hak untuk menjual saham pendasar pada harga tertentu dalam tempoh masa yang terhad.
CBBC menjejaki prestasi saham pendasar tanpa memerlukan pelabur membayar harga penuh yang diperlukan untuk memiliki saham sebenar. la diterbitkan sama ada dalam bentuk Sijil Bull atau Sijil Bear dengan tarikh tamat yang tetap, yang membolehkan pelabur mengambil kedudukan menaik atau menurun atas saham pendasar, dengan kemungkinan penamatan awal sebelum tarikh tamat apabila pendasar bergerak ke arah yang bertentangan dengan jangkaan pelabur.
Maklumat untuk Penerbit
- Untuk syarat Waran Berstruktur, sila klik Bab 5 Syarat Keperluan Penyenaraian Pasaran Utama.
- Bagi prosedur penyenaraian Waran Berstruktur, sila lihat Nota Amalan 27 Syarat Keperluan Penyenaraian Pasaran Utama.
Laman Web Penerbit
Untuk maklumat lanjut mengenai waran berstruktur sila ke laman web penerbit-penerbit Malaysia seperti yang berikut:-- AMBANK BHD
- CIMB BANK BHD
- KENANGA INVESTMENT BANK BHD
- MAYBANK INVESTMENT BANK BHD
- MACQUARIE CAPITAL SECURITIES (MALAYSIA) SDN BHD
- RHB INVESTMENT BANK BHD
Soalan Lazim |
---|
Muat Turun Risalah |
---|