| New Turbo Warrants on the Spanish Stock Exchange |
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04/03/2010 12:53 (709 Day 13:42 minutes ago) | |||||
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The FINANCIAL -- The Spanish stock exchange will on March 3 list the first 10 Turbo Warrants issued by SOCIÉTÉ GÉNÉRALE all of which are linked to the IBEX 35 index.
This issue completes the range of products offered by the financial firm, which comprises warrants and inline warrants.
Turbo Warrants started trading on the Spanish stock exchange in 2007. The main variable that determines the price of a Turbo is the trend followed by the asset to which it is linked and its operation and functioning are simple.
These products offer the possibility of bringing forward the expiry date with respect to that set in the terms of the issue depending on a predetermined barrier level. When the price of the underlying asset hits or exceeds the barrier level the expiry date for the Turbo Warrant is brought forward. The issue’s barrier levels range from 8,000 to 12,000 basis points of the IBEX 35.
The number of warrants listed in the first two months of the year reached 1,402, up 30% from the same period a year earlier. Trading volumes in February on the warrants and certificates market came in at €124 million, up 25% from January. The number of trades in February was 31,254, up 28% from the previous month.
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