ISSUING & LISTING
- Choose an underlying to issue warrants
- Decide the specific terms of such warrant
- Submit dossier for issuance to SSC, distribute to investors during IPO period
- Submit listing and depository registration dossier to HOSE and VSD
LIQUIDITY PROVIDER (LP) & HEDGING
- Calculate theoretic prices of warrants and submit bid-ask quotes around this price on HSX
- Provide liquidity for the market
- Reduce bid/ask spread
- Hedge in the UL/option market for the outstanding warrants
SETTLEMENT AT EXPIRY/DELISTING
- Pay the settlement amount to investors for ITM warrants at the expiry date, or when the warrants are delisted prematurely.
- Be responsible for all obligations related to the warrants it has issued