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The Spanish Exchange today began to trade 154 warrants issued by Société Générale. The new issues are linked to strike prices consistent with the market prices on such underlying assets as domestic shares and indices.
Regarding domestic shares, 116 warrants were issued on the following underlying assets: Acerinox, ACS, Altadis, BBVA, Endesa, Gas Natural, Iberdrola, Iberia, Inditex, Indra, Banco Popular, Repsol, SCH, Sogecable, Telefónica and Unión Fenosa.
As to the warrants on indices, 38 were listed on the IBEX 35®, covering a wide range of strike prices and expiry dates.
Among the issues are call and put warrants, with expiry dates in March, June, September and December 2007. They are all American style, that is, they are exercised automatically on the expiry date.
In October, the value of trading on the warrants market was € 309 million, 52% up on October 2005. The number of trades was 48,360, exceeding the previous month’s figure by more than 39,5%.
The accumulated trading volume to October reached € 2.41 bn, 26.7% on the same period last year and 9% higher than last year’s annual record. The accumulated number of trades was 393,087, 33% up on the same period last year and 11% higher than last year’s annual high.
The Bolsa de Madrid’s Special Contest will take place tomorrow, when the 10 top participants in the Formula Warrants Contest (5fth edition of the Société Générale’s Game) will try to obtain the highest return from their trades in Société Générale’s Warrants during the trading session. The prize is an all-in trip to Mexico.
The Formula Warrants Contest took place from 23 to 27 October. 3,000 players took part in the game and the result was exceptional: during the game’s week the winner got a return on their investment of 233.54% and was awarded a BMW Z4 Roadster.
