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FREQUENTLY ASKED QUESTIONS (FAQ)


1. How can I find which warrants are available for trading on Chi-X? +
Look in the Reference data section of our web site to see the list of warrants, or download the full list as a .CSV file.
2. How can I tell what type of warrant I am looking for? +
All warrants have a unique 6 character code.

The fourth character identifies the type of warrant.

I, J – instalments and instalment MINIs

S - Self-funding instalments

K, Q, M – MINIs

L – GSL MINIs

T, U, V, W - put and call trading warrants

X, Y, Z – others which includes barrier and knockout warrants / turbo warrants
3. How can I tell who has issued a particular warrant? +
All warrants have a unique 6 character code.

The fifth character identifies the Issuer. All warrants issued by that Issuer will use a fifth character allocated to that Issuer.
Issuer Name 5th Letter Example
CitiFirst warrants C BHPKCA
4. Where can I find the PDS for a particular warrant? +
Whenever a new warrant series is approved for trading on Chi-X an announcement is made to the market which attaches the PDS relevant to that warrant series. These are included in the Announcements section of our website. You can also follow the link beside each symbol in the Reference Data section.

Alternatively, the Issuer of the warrant series will have the relevant PDS on their website. You can find links to Issuer websites in our Issuer details section.
5. Can I trade Chi-X warrants through any broker? +
You can trade Chi-X quoted warrants through brokers that are Chi-X trading participants. The list of Chi-X trading participants is available in our Trading section which can be accessed from our home page.
6. What is the difference between warrants traded on Chi-X and warrants traded on ASX? +
Trading and settlement of warrants is very similar on both markets. Settlement will go through CHESS and the warrants are on the register used by the Issuer irrespective of which market the warrants are traded on
The warrants being traded on each market are different. There might be the same type of warrants for example instalments, MINIs etc., some of the Issuers might be the same and the underlying instruments may be the same but the actual warrant series will be different.
Importantly, each series will have its own market – bids and offers and volume.
Chi-X anticipates that over time, there will be more and more warrants being quoted on its market
7. How do I know if a warrant is traded on Chi-X or on ASX? +
Check the Symbol against the list in our Reference Data section to see if the warrant is quoted at Chi-X.

Some issuers have different 5th letter symbols on Chi-X. Citiwarrants (CTW) uses “C” as the 5th letter on Chi-X and “O” at ASX. Other issuers use the same letter on both exchanges.
8. If I buy a warrant on ASX can I sell it on Chi-X and vice versa? +
No, you can’t. Warrants quoted and traded by Chi-X are exclusively traded on Chi-X. The same applies to ASX quoted warrants. The simple rule is you have to sell on the market that you bought on.
9. What must I do before I can trade warrants on Chi-X? +
You will need to have signed a client agreement with your broker and been provided with the Chi-X explanatory booklet.

However if you have already been approved for trading ASX warrants, that approval applies to Chi-X warrants. You do not need to sign another client agreement.

All retail clients need to be provided with a copy of the Chi-X Explanatory Booklet prior to trading. A wholesale client must be provided with a copy of the Chi-X Explanatory Booklet if it is requested.
10. Where do I find a client agreement? +
Each broker has its own client agreement. You should ask your broker for a copy.
11. Where do I find the Chi-X warrants explanatory booklet? +
The Chi-X warrants explanatory booklet is from the Download Explanatory booklet section of our website
12. How do I find the key terms of a warrant? +
The reference data section has some terms about each warrant, such as Expiry date, Strike price and type of warrant. This page has links to more detailed reference data, and to the PDS.
13. What if I want to buy more warrants than are shown on the market? +
The volume visible on screen is not necessarily reflective of the total volume available to buy and sell at a price. This is because Issuers act as, or contract the services of, market makers to provide liquidity.

The volume visible on screen is not necessarily reflective of the total volume available to buy and sell at a price. This is because Issuers act as, or contract the services of, market makers to provide liquidity. The arrangements between issuers and market makers require liquidity to be maintained so that investors can have confidence that, barring an extraordinary event, reasonable prices may be available for the purpose of liquidating existing positions.

If you want to trade in larger volume you should speak to your broker or contact the Issuer of the relevant warrant series
14. If I am trading for myself do I need to sign a client agreement? +
Yes, you will still need to have signed a client agreement with your broker and been provided with the Chi-X explanatory booklet.

However if you have already been approved for trading ASX warrants, that approval applies to Chi-X warrants. You do not need to sign another client agreement.

All retail clients need to be provided with a copy of the Chi-X Explanatory Booklet prior to trading. A wholesale client must be provided with a copy of the Chi-X Explanatory Booklet if it is requested.
15. Does my advisor need to be accredited if advising me on warrants? +
If you are receiving advice, on investing in warrants, by an adviser employed by a Chi-X Trading Participant, then your adviser must be accredited before they can advise you on Chi-X traded warrants.

Your adviser must, at a minimum, have accreditation as an Accredited Derivatives Adviser level 1 (also known as ADA1), in order to provide advice on subscribing for, buying, selling and exercising warrants. Advisers with a level 2 accreditation (ADA2) can additionally provide advice on all trading strategies relating to warrants.

For other advisers different types of accreditation are available
16. Why can’t I see a Chi-X traded warrant on my market screen? +
Not all brokers are Chi-X trading participants. The list of Chi-X trading participants can be found in the Trading section of our website which can be accessed form the homepage.

Chi-X trading participants are transitioning in their readiness to offer markets in Chi-X warrants. You should ask your broker when they will be ready.
last changed 11/25/2015