.jpg)
The value of premiums traded in October was € 198.5 million, 27.73% up on the same month last year. The accumulated figure for the first ten months of the year was € 1.84 bn, excceding the total trading volume posted in 2004. Of this amount, 83% corresponds to call warrants and 17% to put .
The underlying assets for the warrants issued by Banesto are are domestic and foreign shares and the Ibex 35 index. There were 74 warrants issued on the following Spanish shares: Altadis, Arcelor, BBVA, Endesa, Iberia, Inditex, Repsol, SCH and Telefónica. It is worth noting the incorporation of Iberia as underlying asset for the first time.
As to the warrants issued on foreign shares, 28 were issued on the following underlying assets: Deutche Bank, Deutche Telekom and Nokia. As to the Ibex 35, 13 warrants were issued on this index.
Among the issues are call and put warrants, all of which work in the same way as American warrants, that is, they are exercised automatically by the issuer on their expiry date. The expiry dates for these issues are 15 December 2006, 16 March 2007 and 21 September 2007.
The only issue by BBVA Banco de Financiación admitted to trading today corresponds to an Asian type of warrant whose underlying asset is the Ibex 35 index, its expiry date being August 2010.
