These 337 new warrants have been the first ones to trade on the new electronic trading platform, implemented on 11 November 2002, which was designed for the trading of warrants, certificates and other instruments. The trading of these products on the new platform takes place on a blind, order-driven market model and continuously from 9:00 to 17:30. Through the specialist members, issuers can post ask and bid orders in real time according to the behaviour of the corresponding underlying asset which is being traded. The system also provides detailed information on the product characteristics, its volumes and prices. The new warrants will increase the number of certificates traded on the Madrid Stock Exchange to 1,847.
The new warrant trading platform will help the market expand and gain in transparency, liquidity and efficiency. It is also expected that trading in these products will increase thanks to the system's trading capacity.
As to the 298 warrants issued by BBVA Banco de Financiación, 183 are linked to the following underlying assets: Altadis, Amadeus, Endesa, Gas Natural, Grupo Dragados, Iberdrola, Indra, Repsol, SCH, Telefónica, Telefónica Móviles, Terra and Zeltia.
The 77 warrants linked to foreign stocks are as follow: BCP, BRISA, Deutsche Telekom, EDP, Espirito Santo, France Telecom, KPN NV, Nokia OYJ and Portugal Telecom. As to indexes, 20 warrants have been admitted to trading linked to the Ibex 35 while 16 have been issued linked to international indexes, 10 of them on the DAX and 6 on the Nasdaq 100. The DAX index has been introduced as a new underlying asset in the market, and also as an underlying asset for several international indexes.
Of the 39 warrants issued by Citibank, 27 are linked to Spanish shares, namely BBVA, SCH and Telefónica, while the rest of them are linked to the Ibex 35.
