The Spanish Exchange Trades 200 New Warrants

The Spanish Exchange now trades 200 new warrants issued by Societ Gnrale. The new issues are linked to a wide range of underlying assets, including domestic and foreign shares and indices as well as exchange rates and commodities. As to

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The Spanish Exchange now trades 200 new warrants issued by Societ Gnrale. The new issues are linked to a wide range of underlying assets, including domestic and foreign shares and indices as well as exchange rates and commodities.

As to the warrants on domestic indices, 28 were issued on the Ibex 35 and 4 on the FTSE Latibex Top. As to international indices, 7 issues were made on the Dow Jones Industrial Average, 5 on the Dow Jones Eurostoxx50, 5 on the Nasdaq 100, 7 on the Nikkei 225 and another 7 on the Xetra Dax.

As regards exchange rates, 9 issues were made on the Euro / Dolar exchange rate, of which 5 are call warrants and 4 put, their expiry date being on 20 March 2006.

The Spanish shares that will act as the underlying assets for 86 warrants are as follows: Altadis, BBVA, Banco Popular, Endesa, Iberdrola, Inditex, Repsol, Santander, Sogecable, Telefnica, Telefnica Mviles and Unin Fenosa. As to foreign shares 35 warrants were issued on Alcatel, Arcelor, Cisco Systems, KPN, Microsoft and Nokia.

Concerning the type of underlying asset 7 warrants were issued on the Brent future contract, of which 4 are call warrants and 3 put, their expiry date being 10 November 2005.

Among the issues are call and put warrants, all of which work in the same way as American warrants, that is, they are exercised automatically by the issuer with the exception of those based on the Brent, which are European type and can be exercised on their expiry date.

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