How and when are warrants and CBBCs settled?

All warrants and CBBCs currently traded on the Exchange are European style and are cash settled at expiry.

For cash-settled warrants and CBBCs that are in-the-money on the expiry date, the warrant and CBBC holders are then paid a positive cash settlement amount according to the terms and conditions as set out in the listing documents.

Investors will receive the cash settlement amount (if any) no later than the third settlement day following the expiry date. In general, Christmas Eve, New Year’s Eve and Lunar New Year’s Eve (being half trading days) will normally be prescribed by the Exchange as non-settlement day. 

The cash settlement amount transfer process is automated. Investors do not need to contact the Issuer or their broker in order to collect the cash settlement amount.