An index warrant is a structured warrant that is issued over an underlying index e.g. the Hang Seng Index or the S&P 500®. The index call warrant tracks the performance of the underlying index, meaning, it tends to increase in value when the underlying index increases. The opposite is true for an index put warrant. That is, the put warrant tends to decrease in value when the underlying index increases.

Below are some of the more well-known indices.
Click on a tile to read more about them.

Hang Seng Index

More info

The MSCI Singapore Free Index

More info

The Standard & Poor's 500 Index

More info

The Nikkei 225 Index

More info

Live matrix

Use the live matrix to track the movements of your warrants. The live matrix shows where the warrant’s bid and offer price will be at various levels of the underlying.

View Live Matrix

Click on a section below to get more in depth information on warrants.

Hang Seng Index

Comprises 50

of the largest and most liquid stocks listed on the HKEX

Captures ≈ 57%

of HK equity market capitalisation

Tracks the HK market

and is closely linked to the Chinese economy

The Hang Seng Index is the most widely quoted performance indicator of the Hong Kong share market and is one of the most watched indices in the region.

More info
MSCI Singapore Free Index

The MSCI Singapore Free Index measures the performance of large and mid-cap segments of the Singapore market.

More info

Captures ≈ 85%

of SG equity market capitalisation


to the only liquid futures market in Singapore, the SiMSCI

96%* correlation

with the STI
* from Jan 2017 to Jan 2018

The Standard & Poor's 500 Index

$180 billion

average daily traded value of S&P 500® futures
As at June 2017

Over $7.8 trillion

in assets benchmarked to the index

Captures ≈ 80%

of U.S. equity market capitalization

The S&P 500® is widely regarded as the best single gauge of large-cap U.S. equities and is one of the most followed equity indices in the world.

More info
Nikkei 225

The Nikkei 225 is the most widely quoted average of Japanese equities and one of the largest equity indices in Asia by market capitalisation.

More info

≈ USD3.5 trillion

in market capitalisation
As at 2 April 2018

Grew 19.1%

in year 2017, up for the 6th consecutive year

Actively traded

futures contracts listed on SGX