ASX Warrant Issuers

[Boggo]

These guys don't like it when they get hit.

Below is the current bid/ask for a CitiWarrants put warrant on the XJO (XJOWOQ) as well as their pricing matrix for today, ie. what the bid ask should be.

I rang them up and complained about their bid distance from the market and the response was that they are having difficulty maintaining the price because the warrant is close to expiry (18th June)

Their bid should be about 0.205, not 0.185, it makes a big difference to the profit if you are selling, of course if you want to buy there are none available.

Its hard enough without this nonsense.

 

[Trembling Hand]

They are a bunch of crocks for sure. I traded warrants years ago and what you are describing is not new.

Why don't you trade Futes or CFDs?

 

[Euler]

These guys don't like it when they get hit ...........
Its hard enough without this nonsense.

One of the reasons I gave warrants away a long time ago.

In the days SG was in the game here, you'd at least be able to phone them and put a case to them. 9 out of 10 times I found they'd meet your position. But those days are mostly gone. And maybe that is one of many reasons why SG pulled out of the local market.

 

[xyzedarteerf]

These guys don't like it when they get hit.

Below is the current bid/ask for a CitiWarrants put warrant on the XJO (XJOWOQ) as well as their pricing matrix for today, ie. what the bid ask should be.

I rang them up and complained about their bid distance from the market and the response was that they are having difficulty maintaining the price because the warrant is close to expiry (18th June)

Their bid should be about 0.205, not 0.185, it makes a big difference to the profit if you are selling, of course if you want to buy there are none available.

Its hard enough without this nonsense.

after trading warrants for nearly a yearly i decided to give them up for the same reason, for what i have experienced citi and ubs are the worst issuers in times of price spikes and the first 30mins of the trading day, i found that bid/ask often disappear altogether , i had to ring asx to complain a couple of times and lo and behold it comes back, with no explanation as to why this occurs, talk about in your face manipulation, macqb are usually the fairest when in comes to pricing thats just my general observation.

but thats it from me now NO more warrants those b****rds.

i dont work for mqcqb nor hold any of there stocks.

 

[Green08]

but thats it from me now NO more warrants those b****rds.

i dont work for mqcqb nor hold any of there stocks.

I've been concerned for months on the new warrants - Turbo Warrants which end with one touch pricing they don't tend to end with end of trade close

http://www.citiwarrants.com.au/risks.html

Solid reading for those that don't understand. There is a calander of dates and prices for major companies. ]

Interestingly I asked several bank managers what the Turbo warrant was and they had no idea!

 

[Boggo]

Its seems bloody stupid that they bother to issue these warrants in the first place if they are not then going to comply with their own published price matrix.

Then the pinstripe parasites have to resort to these tactics to avoid paying up when someone picks the market correctly.

I know that they issue all sorts of disclaimers etc in their pds but surely the regulators should have some input into this sort of blatant manipulation.

I still have a (dormant) CFD account with a provider that has a thread dedicated to them on this site, I have traded stocks, futures and FX with them.
In one week alone I had two disputes with them over spikes in their charts that triggered my stops. On both occasions I was also running eSignal charting in parallell on another monitor and neither spike appeared on eSignal.
Both times their response was that eSignal was wrong.
I know who I believe.
I won't go into the number of times that their software had a problem at a critical point.

Every form of derivative seems to have some form of manipulation.

I have had some great wins using hot instalment warrants and put warrants and will probably continue get annoyed with them while taking great delight in taking what I can from them.

My

 

[Boggo]

The Issuer has arranged for its Broker to conduct market making activities in relation to the Warrants by the provision of bids and offers made in a spread around the prevailing market price to help ensure liquidity in the market for the Warrants.

The statement above if from the link to the CitiWarrants site.

I think that my first post is evidence that they are not complying with this statement especially when read in conjuction with their phone response.

 

[Trembling Hand]

I still have a (dormant) CFD account with a provider that has a thread dedicated to them on this site, I have traded stocks, futures and FX with them.
In one week alone I had two disputes with them over spikes in their charts that triggered my stops. On both occasions I was also running eSignal charting in parallell on another monitor and neither spike appeared on eSignal.
Both times their response was that eSignal was wrong.

What instrument were you trading?

Every form of derivative seems to have some form of manipulation.

No If you want a derivative trade then use Futures instead of the retail rubbish.

 

[Boggo]

What instrument were you trading

I have had to scan both charts side by side, computer JPG's lost in reformat.
Refer to area in red oval.
I went short on a 3min chart of the SPI and got stopped out at 6612.

Left chart never went above 6610, right went to 6615.

Chart on left is eSignal.

I do a screen capture of all these anomalies now.

This would ave been a nice little earner too gov!

 

[Trembling Hand]

I went short on a 3min chart of the SPI and got stopped out at 6612.

Left chart never went above 6610, right went to 6615.

Chart on left is eSignal.

Sorry but 3 points on a CFD quotes is nothing. Your not comparing the same thing. The Esignal chart are Trades. The CFD charts is either a Bid or an ASK PLUS the spread chart therefore is NEVER going to be the same price/quote as the SPI.

And of course thats is if your CFD provider even sets the CFD at the right level most I have seen have just set their CFDs at some arbitrary number away from the real market.

The two charts look fine to me. You just got stopped out

 

[Boggo]

The way I see it that it matched to 6610 and then spent 12 minutes above 6610, its no so much the points, its the time as well.

Mike