Warrants

Warrants with collateral (CW) are securities issued by brokerage firms, listed on the stock exchange, assigned their own trading codes and operate similarly to underlying securities.

No.

You can place an order in the “Trading stocks” section on TCInvest, similar to how you do it for underlying securities.

The duration of warrants is a minimum of 3 months and a maximum of 2 years, calculated from the offering date to the expiration date.

When selling warrants (CW) before expiration, the trading method/ fees/ taxes are similar to those of underlying securities, although margin trading is not allowed.
Please note:
Net profit = (Selling CW Price – Buying Price) x Number of CW
Fees and taxes are calculated based on the transaction value = Matched CW Price x Number of CW.

If investors hold warrants until expiry:

• Loss: Investors receive nothing.
• Break-even: Investors receive nothing.
• Profit: The investor:
  Receives the price difference on T+5 = (Settlement Price – Exercise Price) x (Number of CW/Conversion Ratio)
  Pays a tax = 0.1% x Settlement Price x (Number of CW/Conversion Ratio)