Trade index warrants

An index warrant is a structured warrant (“SW”) that is issued over an underlying index e.g. the Hang Seng Index or the FTSE Bursa Malaysia KLCI. The index call warrant tracks the performance of the underlying index i.e. it will tend to increase in value when the underlying index increases, while index put warrants move in an opposite direction to the underlying index, meaning it tends to increase in value when the underlying index decreases.

Click on a tile below to learn more about each underlying index.

The Standard & Poor's 500 Index

S&P 500

More info

iShares A50 China ETF

China A50

More info

Hang Seng Index

HSI

More info

Hang Seng TECH Index

HSTECH

More info

FTSE Bursa Malaysia KLCI

FBM KLCI

More info

Live matrix

Visit the Live Matrix page to see how you can utilize this powerful tool to track the movements of your index warrants.

View Live Matrix

Click on a section below to get more in depth information on warrants.

The Standard & Poor's 500 Index

Trades 23 hours

Trading in S&P 500® futures covers the full trading hours of Bursa Malaysia

Over $11.2 trillion

in assets benchmarked to the index

Captures ≈ 80%

of U.S. equity market capitalization

The S&P 500® is widely regarded as the best single gauge of large-cap U.S. equities and is one of the most followed equity indices in the world.

More info

iShares FTSE A50 China ETF

The iShares FTSE A50 China ETF is an exchange traded fund listed on the Hong Kong Stock Exchange (HKEX). Its movement closely tracks the performance of the FTSE China A50 Index.

More info

Net assets

of over CNY16 billion

FTSE China A50 Index

comprises the top 50 A-Share companies by market capitalization

Provides access

to movements in the China A-Share market

Hang Seng Index

Comprises 50

of the largest and most liquid stocks listed on the HKEX

Captures major sectors

with constituents grouped into Finance, Utilities, Properties, and Commerce and Industry

Tracks the HK market

and is closely linked to the Chinese economy

The Hang Seng Index is the most widely quoted performance indicator of the Hong Kong share market and is one of the most watched indices in the region.

More info

Hang Seng TECH Index

The Hang Seng TECH Index comprises the largest companies listed on the Hong Kong Stock Exchange with high exposure in selected technology themes.

More info

Higher volatility

at an average of 37%, with 94% growth over the past 12 months

Ease of access

Trade warrants on Bursa using your existing trading account

Broad coverage

of the technology sector, including the popular ATMX!

FTSE Bursa Malaysia KLCI

Comprises 30

of the largest companies on Bursa Malaysia

Benchmark

to track the performance of Malaysia’s stock market

Household names

such as Maybank, Tenaga Nasional and Sime Darby

The FBM KLCI comprises the 30 largest companies by full market capitalization on the Bursa Malaysia stock exchange.

More info

All data sourced from Bloomberg and the official websites of the underlying index sponsor or ETF manager (as applicable) as of January 2021.

Index warrants issued by Macquarie

Warrant Name	Underlying	Type	Last bid price	Change	Change (%)	Volume ('000)	Expiry	Last trading date

The Standard & Poor's 500 index

The S&P 500® is widely regarded as the best single gauge of large-cap U.S. equities and is one of the most followed equity indices in the world. There is over USD 11.2 trillion benchmarked to the S&P 500® and it captures approximately 80% of the U.S. market capitalization. The index tracks 500 of the largest companies listed on the New York Stock Exchange and the NASDAQ including, Apple Inc, Amazon, Johnson and Johnson, Microsoft Corp, Facebook Inc, etc.

S&P 500 warrants issued by Macquarie

Warrant Name	Underlying	Type	Last bid price	Change	Change (%)	Volume ('000)	Expiry	Last trading date

iShares FTSE A50 China ETF

The iShares FTSE A50 China ETF (“A50 China ETF”) is an exchange traded fund listed on the Stock Exchange of Hong Kong (SEHK), whose movement closely corresponds to the performance of the FTSE China A50 Index. The index is designed to represent the performance of the mainland Chinese market through the 50 largest A Share companies listed on the Shanghai and Shenzhen stock exchanges.

A50 China ETF warrants issued by Macquarie

Warrant Name	Underlying	Type	Last bid price	Change	Change (%)	Volume ('000)	Expiry	Last trading date

Hang Seng Index

The HSI is the most widely quoted performance indicator of the Hong Kong share market, and one of the most watched indexes in the region. Comprising 50 of the largest shares on the Hong Kong exchange, it tracks the movement in the Hong Kong market and is very closely linked to the Chinese economy. Many investors across the world use the HSI as a proxy to invest into China.

HSI warrants issued by Macquarie

Warrant Name	Underlying	Type	Last bid price	Change	Change (%)	Volume ('000)	Expiry	Last trading date

Hang Seng TECH Index

The Hang Seng TECH Index (“HSTECH”) comprises the largest companies listed on the Hong Kong Stock Exchange which have high exposure in selected technology themes. First launched in July 2020, the more notable constituents include well-known names such as Alibaba, Tencent, Meituan and Xiaomi (commonly referred to as ‘ATMX’) which have a combined weight of more than 30%. Investors will be able to gain exposure to these heavyweights as well as a diverse spectrum of themes within the tech sector including internet, fintech, cloud, e-commerce and digital while minimizing any single stock specific risk.

Stay tuned for more information on the HSTECH, coming soon!

Note: The chart below includes back-tested data compiled by the Hang Seng Indexes Company Limited for the period before the HSTECH’s launch date of 27 July 2020.

HSTECH warrants issued by Macquarie

Warrant Name	Underlying	Type	Last bid price	Change	Change (%)	Volume ('000)	Expiry	Last trading date

FTSE Bursa Malaysia KLCI

The FBMKLCI is comprised of the top 30 companies by market capitalization on the Bursa Malaysia Main Market, including Maybank, Tenaga Nasional, Public Bank, Sime Darby and other household names. It is the headline index for the Bursa and is the most widely used benchmark to track the performance of the Malaysian market.

The FBM KLCI futures (“FKLI”) are listed and traded on the Bursa Malaysia, the FBMKLCI warrant price is linked to the movements in the futures price over time and at expiry settlement will be based on the closing level of the relevant futures expiry.

FBMKLCI warrants issued by Macquarie

Warrant Name	Underlying	Type	Last bid price	Change	Change (%)	Volume ('000)	Expiry	Last trading date

What is an index warrant?

An index warrant is a structured warrant (“SW”) that is issued over an underlying index e.g. the Hang Seng Index or the FTSE Bursa Malaysia KLCI. The index call warrant tracks the performance of the underlying index i.e. it will tend to increase in value when the underlying index increases. The opposite is true for an index put warrant, whose price will go up when the underlying index decreases.

The Standard & Poor’s 500 index (“S&P 500®”)

The S&P 500® is widely regarded as the best single gauge of large-cap U.S. equities and is one of the most followed equity indices in the world. There is over USD 7.8 trillion benchmarked to the S&P 500® and it captures approximately 80% of the U.S. market capitalization. The index tracks 500 of the largest companies listed on the New York Stock Exchange and the NASDAQ including, Apple Inc, Johnson and Johnson, General Electric, Microsoft Corp, Facebook Inc, etc..

The Standard & Poor’s 500 index (“S&P 500®”)

The iShares FTSE A50 China Index ETF (“A50 China ETF”) is an exchange traded fund listed on the Stock Exchange of Hong Kong (SEHK), whose movement closely corresponds to the performance of the FTSE China A50 Index. The index is designed to represent the performance of the mainland Chinese market through the 50 largest A Share companies listed on the Shanghai and Shenzhen stock exchanges.

Hang Seng Index (“HSI”)

FTSE Bursa Malaysia KLCI (“FBMKLCI”)

Why trade index warrants?

The key advantages of index warrants are:

Allow you to take a view on the general market direction

By gaining access to the index, you remove the need to select a share and instead take a view on the market as a whole.
Able to profit from both rises and falls

Index warrants allow you to take either a bullish (call warrant) or a bearish (put warrant) view on the market. So you have the potential to profit from both rises and falls in the market.
Get exposure to different markets

Index warrants allow you to get exposure to foreign markets like Hong Kong (e.g. the HSI Index) without having to leave the Bursa Malaysia.
Hedge your share portfolio

Index put warrants allow you the potential to profit from downward movements in the market, making them a useful hedge for a diversified share portfolio.

How to trade index warrants?

Index call warrant

If you have a bullish view on the S&P 500®, you can buy a call warrant e.g. SP500-CA. Example as follow:

Index put warrant

If you have a bearish view on the FBMKLCI, you can buy a put warrant over FBMKLCI e.g. FBMKLCI-HW. Example as follow:

Assuming your view was right, if you have bought the put warrant instead of shorting the underlying index, you would have made a 12.5% return, almost 5 times that of the index level move.

These are examples of gearing at work and the advantage that warrants offer i.e. a greater potential profit as a percentage of your invested capital. However, gearing works in both directions, so greater potential returns also come with greater risk.

How to calculate the cash settlement amount at expiry?

Your index warrant will be automatically exercised if you hold it until expiry. If the Cash Settlement Amount (“CSA”) is positive, Macquarie will make a cheque payment to you within 7 market days after expiry.

The FX rate component takes into consideration the underlying indexes that are denominated in a foreign currency and not MYR.

Example of an S&P 500® call warrant:

Example of an FBMKLCI put warrant:

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The information on this internet site is directed and available for general circulation to residents of Malaysia only and is not provided to any person who is a resident of the United States or any other country. Any material provided herein, including any indicative terms are provided for information purposes only and do not constitute an offer, a solicitation of an offer, or any advice or recommendation to conclude any transaction. The Warrants will not be offered to any US persons.

The price of securities may go down as well as up, and under certain circumstances an investor may sustain a total loss of investment. As past performance is not an indication of future performance, an investor should ensure that they understand the nature of the investment product and in particular the risk factors before investing.

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Macquarie Malaysia warrants ("Warrants") are issued by MCSM and guaranteed by Macquarie Financial Holdings Limited. Except where expressly stated, the information and services on this website (the "Material") are provided by MCSM as at the date indicated on the relevant material.

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In relation to Warrants which are listed on Bursa Malaysia Securities Berhad ("Bursa Securities"), a base prospectus has been prepared. In addition a termsheet will or has been prepared by MCSM for the purpose of obtaining a listing for a series of Warrants on Bursa Securities. Copies of the base prospectus and termsheet (together the “Listing Documents”) may be obtained on this web-site.

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Macquarie Equipment Leasing SDN BHD

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February 2014

Back

What is an index warrant?

The Standard & Poor's 500 Index

S&P 500

iShares A50 China ETF

China A50

Hang Seng Index

HSI

Hang Seng TECH Index

HSTECH

FTSE Bursa Malaysia KLCI

FBM KLCI

Live matrix

Want to know more?

Trades 23 hours

Over $11.2 trillion

Captures ≈ 80%

Net assets

FTSE China A50 Index

Provides access

Comprises 50

Captures major sectors

Tracks the HK market

Higher volatility

Ease of access

Broad coverage

Comprises 30

Benchmark

Household names

Index warrants issued by Macquarie

The Standard & Poor's 500 index

S&P 500 warrants issued by Macquarie

iShares FTSE A50 China ETF

A50 China ETF warrants issued by Macquarie

Hang Seng Index

HSI warrants issued by Macquarie

Hang Seng TECH Index

HSTECH warrants issued by Macquarie

FTSE Bursa Malaysia KLCI

FBMKLCI warrants issued by Macquarie

What is an index warrant?

The Standard & Poor’s 500 index (“S&P 500®”)

The Standard & Poor’s 500 index (“S&P 500®”)

Hang Seng Index (“HSI”)

FTSE Bursa Malaysia KLCI (“FBMKLCI”)

Why trade index warrants?

Allow you to take a view on the general market direction

Able to profit from both rises and falls

Get exposure to different markets

Hedge your share portfolio

How to trade index warrants?

Index call warrant

Index put warrant

How to calculate the cash settlement amount at expiry?

Example of an S&P 500® call warrant:

Example of an FBMKLCI put warrant:

Warrant tools

Warrant statistics

Warrant education

Market news

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