Ping An Securities Derivatives Department Xue Pu
Many investors are confused about the name of China's listed warrants. For example, both are subscription certificates, Wuhan Iron & Steel The name of the subscription certificate is WISCO CWB1, while that of OCT is called OCT HQC1; Both are put warrants, China Merchants Bank And Hunan Valin But their put warrants are called CMB CMP1 and Valin JTP1 , etc. It is easy to see that the Chinese characters in front of the warrant name represent the name of the underlying security, while the letters and numbers behind it are more complex, and at first glance it seems that there is no rule to follow. In fact, the name of warrants in China's securities market is not set at will, and many useful information can be obtained from its name, such as the corresponding shares of warrants, the types of warrants and the batch of issuance. At the same time, the determination of the name of the warrant varies according to the provisions of the Shanghai Stock Exchange and Shenzhen Stock Exchange.
For warrants in the Shanghai Stock Exchange, the name generally occupies eight characters, the first to fourth characters use Chinese characters (one Chinese character occupies two characters), pinyin or numbers to represent the underlying securities, the fifth and sixth characters use two capital letters to represent the issuer, and the seventh character uses a letter B or P to represent the call or put, The eighth digit uses a number or letter to indicate the number of warrants issued by the same issuer with the same underlying securities. When there are more than nine warrants, A to Z is used to indicate the number of warrants from the 10th to the 35th.
For example, WISCO CWB1, the first four characters "WISCO" represent that the underlying securities of this warrant are Wuhan Iron & Steel (600005), the "CW" in the fifth and sixth digits represents that the issuer is Wuhan Iron and Steel Co., Ltd., the "B" in the seventh digit represents that this warrant is a warrant, and the last Arabic digit "1" represents that this is the first warrant issued by Wuhan Iron and Steel Co., Ltd. with Wuhan Iron and Steel as the underlying securities.
The names of warrants in Shenzhen Stock Exchange are different. Generally, the Shenzhen Stock Exchange warrant abbreviation should be "XYBbKs", where XY stands for the two Chinese abbreviations of the underlying securities, Bb stands for the two pinyin letters of the issuer, and K stands for the warrant category, where C stands for call warrants and P stands for put warrants; S is the issuance batch of warrants issued by the same issuer to the same underlying securities, and the values are [0, 9], [A, Z］，［a，z］。
for example CIMC ZYP1 "CIMC" represents that the underlying securities of this warrant are CIMC (000039), "ZY" means that the issuer of the warrant is COSCO Pacific Co., Ltd., "P" means that the warrant is a put warrant, and "1" means that it is issued by COSCO Pacific Co., Ltd shares It is the first put warrant of the subject matter.
It can be seen that the names of warrants in China have laws to follow, and investors can obtain some basic information about warrants according to the names of warrants.
For more warrant information, please visit Ping An Securities warrant website http://www.pa18.com/warrants
