Herbert Smith Freehills has advised Citi on the launch of the first warrants on Chi-X Australia.
The initial warrant issue is of MINI warrants which enable investors to buy short or long positions in Commonwealth Bank of Australia and BHP Billiton. Further warrant issues are expected to be launched soon.
This initial warrant launch occurs just two days after the launch of Chi-X Australia’s new investment products platform, and the commencement of significant amendments to Chi-X Australia’s operating rules and procedures to facilitate warrant trading and trading in ETFs.
The Herbert Smith Freehills team was led by Sydney partner Fiona Smedley, who was supported by senior associate Yorick Ng and graduate Jane Chandler.
Fiona Smedley said, “We have been advising Citi on its suite of warrants and other investment products for over a decade and are delighted to have worked closely with the Citi team to access the new Chi-X market and the opportunities it presents. The opening of this second warrant market in Australia is the most significant development in the warrant space in years and is an exciting opportunity for both investors and warrant issuers.”