I hold a call warrant issued by firm A. There was another warrant with identical terms (same underlying, expiry date and strike price) issued by firm B. Why was price quoted by firm A lower than that quoted by firm B?

In addition to a warrant’s terms (i.e. underlying, expiry date and strike price), the price of a warrant also depends on a number of other factors which are based on different pricing assumptions adopted by individual issuers (e.g. different implied volatilities of warrants, interest rate, expected dividends, etc.). Moreover, even with identical terms, different warrants may have a different level of market participation and outstanding amount, which may affect the warrant price to a different extent. Accordingly, the prices of warrants with identical terms issued by different issuers may be different.