Understanding warrant codes
Generic warrant codes
All warrants are issued with a six character ASX code. The individual letters of the code describe some of the main features of the warrant:
- the first three characters of the code identify the underlying instrument. For most equity and instalment warrants this will be the same as the three letter ASX code of the underlying company shares.
- the fourth character of the code identifies the type of warrant (see table below).
- the fifth character of the code identifies the warrant issuer (see list of warrant issuers and their corresponding fifth letter).
- the sixth character of the code identifies the particular warrant series. For trading-style warrants the range A to O is reserved for call warrants, while the range P to Z is reserved for put warrants. In addition, the range 1 to 6 is reserved for call and put warrants.
|Fourth letter of code||Description|
|I or J||Instalments|
|S||Self Funding Instalments (SFIs) and Structured Investment Products (SIPs - These include longer-term investment style products)|
|W, V, U or T||Trading-style warrants including equity calls and puts, index calls and puts, currency calls and puts.|
|X, Y or Z||Warrants which have significantly different structures to any of the above. Examples include equity and index knock-out/barrier warrants, and Capital Plus Warrants.|
|K, M or Q||MINIs|
|L||Guaranteed Stop Loss (GSL MINIs)|
This is a temporary code assigned to a warrant trading on a deferred settlement basis due to a corporate action, reconstruction or a rollover
The first three letters [BHP] indicate that it is a warrant over shares in BHP Billiton Ltd. The fourth letter [W] indicates it is a trading warrant. The fifth letter [M] tells us it is issued by Macquarie Bank. Finally, we know it is a call warrant because the sixth letter [F] falls in the range A to O.
Other warrant code features
In addition to the warrant categories in the above table, some warrants fall into their own sub-categories. The codes of these warrants have their own distinguishing features.
Index warrants and MINIs
The first three letters of an index warrant is the code of the underlying index.
|XJO||S&P/ASX 200 Index|
|XSP||S&P 500 Index|
|DJX||Dow Jones E-CBOT|
|SPF||S & P 500 E-Mini|
|NDX||Nasdaq 100 E - Mini|
|NKX||Nikkei 225 (OSE)|
|HSX||Hang Seng IDX Futures|
|HCX||H-Shares IDX Futures|
|J4A||S&P/ASX 200 Bank Accumulation Index|
|XDJ||S&P/ASX 200 Consumer Discretionary Accumulation Index|
|XEJ||S&P/ASX 200 Energy Accumulation Index|
|XHJ||S&P/ASX 200 Healthcare Accumulation Index|
|XJR||S&P/ASX 200 Resources Accumulation Index|
|XMJ||S&P/ASX 200 Materials Accumulation Index|
|XNJ||S&P/ASX 200 Industrials Accumulation Index|
|XSJ||S&P/ASX 200 Consumer Staples Accumulation Index|
|XUJ||S&P/ASX 200 Utilities Accumulation Index|
|XXJ||S&P/ASX 200 Financials X-AREIT Accumulation Index|
Index fund warrants
|C25||iShares FTSE China 25 Index Fund|
|SP5||iShares S&P 500 Index Fund|
|I50||iShares S&P India Nifty 50|
|EMK||iShares MSCI Emerging Markets Index Fund|
|BIF||iShares MSCI Brazil Index Fund|
|HYG||iShares iBoxx $ High Yield Corporate Bond Fund|
|LQD||iShares iBoxx $ Investment Grade Corporate Bond Fund|
|BRF||iShares MSCI BRIC Index Fund|
|DJU||iShares Dow Jones US Index Fund|
|BHA||Berkshire Hathaway Inc - Class B Shares|
All currency warrants have X as the second letter in the code. The third letter represents the exercise currency.
|AXU||Call and Put Warrants over the Australian Dollar/US Dollar exchange rate.|
|FXU||MINIs over the AUD/USD Exchange rate (US Dollar)|
|FXY||MINIs over the AUD/YEN Exchange rate (Japenese Yen)|
|FXZ||MINIs over the AUD/NZD Exchange rate (New Zealand Dollar)|
|FXP||MINIs over the AUD/GBP Exchange rate (British Pound)|
|FXH||MINIs over the AUD/HKD Exchange rate (Hong Kong Dollar)|
|FXE||MINIs over the AUD/EUR Exchange rate (Euro dollar)|
|FXS||MINIs over the AUD/SGD Exchange rate (Singapore Dollar)|
Commodity and international equity warrants
|ZGC||COMEX Gold Futures|
|ZCL||NYMEX Crude Oil Futures|
|ZSI||COMEX Silver Futures|
|ZNG||NYMEX Natural Gas Futures|
|ZSI||COMEX Silver Futures|
Structured Investment Products
Structured Investment Products are tailored investments which typically give investors exposure to an underlying asset with capital protection on the investment at maturity. They are issued over a variety of underlying asset.
|APS||Alternative Listed Protection Securities (ALPS)|
|CPX||Capital Plus (high denomination)|
|DAB||Absolute Return Diversified Asian Gov't Bond Portfolio Securities (DABs)|
|GLR||Emerging Markets Growth Linked Return Investment|
|ORB||ORB Investment Traded Securities (ORBITS)|
|YLD||Yield Income Enhanced Listed Deferred Securities (YIELDS)|
The underlying parcel for a Basket Warrant is usually a portfolio of shares (refer to the individual disclosure documents for details of the underlying parcels).
|AMR||Amcor Ltd Basket Warrants|
|BOB||Boral Ltd Basket Warrants|
|PEW||Portfolio Endowment Warrants|
|TA8||TabCorp Holdings Limited and Echo Entertainment Group Limited Basket Warrants|