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C
Covered Warrant
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A stock, basket, or index warrant issued by a party other than the issuer of the underlying stock(s) and secured by the warrant issuer's holding in the underlying securities or the warrant issuer's general credit standing. Covered warrants are most common in Europe and parts of Asia. Often they are issued by investment banks when transfer of the underlying security is temporarily or permanently restricted, when traditional warrants are not available, or when buyers want security and currency warrant combinations not otherwise available in the market. Also called Synthetic Warrants, Third Party Warrants. See also Foreign Stock Index Options, Warrants, and Futures, Guaranteed Warrant, Equity Warrant, Guaranteed Exchange Rate Warrant, Warrant.
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Glossary *
C
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