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Glossary

All A B C D E F G H I J L M N O P Q R S T U V W X Y

Warrant

A financial product issued by a bank or other financial institution which gives you the right to buy shares (or currency, an index or a commodity) at a set price within a specified time and traded on the Australian Securities Exchange.

Warrant code

Six-letter code used to identify and to trade ASX quoted warrants. The first three letters of the code identify the underlying security. For most equity warrants this is the same as the three-letter ASX code of the underlying company shares. The fourth letter of the code identifies the type of warrant, the fifth letter the warrant issuer, the sixth letter is a sequential code.

Warrant series

All warrants with the same terms of issue and underlying asset and having the same warrant issuer, exercise price, expiry date (see expiry, expiry date, expiration) and settlement procedure. Each warrant series has a separate warrant code.

Warrants

Financial instruments traded on ASX. Broadly split into products with investment purposes and those for trading purposes; warrants may be issued over securities (such as shares), a basket of securities, a share price index, currencies or commodities.

Warranty

A document which guarantees that a product will remain in working order for the term of the warranty. It contains information on how the seller or manufacturer will repair, replace or refund the product if it is defective.

Will

A legal document that sets out how you want your assets and other belongings to be distributed when you die.

Winding-up order

A court order for the winding up of a company (liquidation). The first step in a court liquidation, usually made after an application by a creditor

wine equalisation tax (WET)

ATO term - A tax on wine consumed in Australia. It is based on the value of the wine sold and generally applies to the last wholesale sale (usually between the wholesaler and the retailer) although it may apply in other circumstances.

Worthless shares

Shares determined to be of little or no value by reference to the circumstances leading to a delisting or suspension, the length of a suspension, share trading history and last on-market share price, most recent financial and cash flow statements, prospects (including likelihood of re-financing) and other factors such as whether the entity is in external administration.

Wrap account

Allows managed investments to be combined or 'wrapped' into a single account. Generally used by financial planners for convenience.

Writer

Seller of an option contract.

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