Warrant Code Structure

How are warrant codes structured?

All warrants have a unique 6 character code.


  1. The first three letters represent the underlying Asset
  2. The fourth character identfies the type of warrant
    • I, J: Instalments and Instalments MINIs
    • S: Self-funding Instalments
    • K, Q, M: MINIs
    • L: GSL MINIs
    • T, U, V, W: Put and call trading warrants
    • X, Y, Z: Others which include barrier and knockout warrants/turbo warrants
  3. The fifth letter indicates the Issuer Code
    • C: CitiFirst warrants
  4. The sixth letter indicates Long or Short
    • A to O: Long/Call
    • P to Z: Short/Put

The next available letter is normally used for position 6

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