Singapore – 24 June 2009: Macquarie Capital Securities (Singapore) Pte. Limited (“Macquarie”), announced today the launch of the 2009 Warrant Hotshot Trading contest, with over $30,000 in prize money to be won.p>
The contest, now in its third year, was launched to educate investors about the warrants market. Entrants can sign up to one of four categories; Remisiers and Dealers, Private Investors, Media or Students, with $20,000 going to the overall Grand Prize winner. The winner from each category will receive $2,500, while a weekly cash prize of $200 will go to the top person in each category at the end of each week.
Mr Barnaby Matthews, Head of Derivatives, Singapore at Macquarie said: “The aim of the Macquarie Warrant Hotshot contest is to increase investors’ understanding of warrants and to improve their trading skills. It is also a great opportunity for new investors to gain experience in warrants without risking any capital.”
Mr Matthews said the competition attracts an increasing number of entries each year with no one category dominating the prize money: “Whether you are a remisier or a retired housewife, you can successfully trade warrants in the contest as demonstrated by the Grand Prize winners over the last two years”, he said.
The 2008 grand prize winner, Mr Darryl Kuek, a Remisier had little practice in trading warrants, while the 2007 winner was Madam Chua Chwee Keok, a retired housewife with no previous experience in warrants trading.
Mr Matthews said he was pleased to announce that the Singapore Exchange (“SGX”) was continuing its support of the Warrant Hotshot Trading contest this year.
“We are pleased to partner Macquarie in this warrants trading contest for the second year in a row. Warrant Hotshot has demonstrated its reach to a diverse group of the investing community – including Trading Representatives, retail investors and tertiary students – and provides an excellent platform for both new and seasoned investors to sharpen their warrants trading skills. Today’s launch is the first of several initiatives that SGX will be embarking on in the months ahead, to increase market participation and enhance investors’ sophistication,” said Mr Thomas Tey, SGX Senior Vice President and Head of Product Management.
Contest participants start with a hypothetical cash amount of $100,000 and are able to trade Macquarie Bank Limited issued warrants in a simulated trading environment that mirrors the real SGX warrants market.
The contest commences 6 July 2009, will run for four weeks and is free to enter. Macquarie will be running free weekly seminars to educate investors throughout the competition. Participants can sign up via www.warrants.com.sg.
About Macquarie (“Macquarie Group”)
Macquarie Group is a diversified international provider of financial, advisory and investment management services.
Macquarie Group is recognised as one of the largest product providers to private banks across Asia and provides a range of products to meet the tailored requirements of clients.
Macquarie Group has built a solid reputation as one of Asia’s premier Warrants issuers and is the biggest issuer of warrants by market share in Singapore. Year ending 29 May 2009, Macquarie Group had 65% market share of the value traded on the Singapore Warrants market.
Macquarie Group takes a leading role in educating retail investors about how to invest in warrants. Macquarie Group runs regular seminars, operates a free-call warrants telephone number and distributes a free, daily e newsletter that contains the most up to date market information. Macquarie Group is also the offer free Live Warrant pricing via the website.