Disclaimer:  Even though every effort has been made to ensure this warrant data's accuracy, Standard Bank, or an associated company can not be held responsible for any errors contained herein. Please use the data with caution. We recommend that you contact the issuer for confirmation of key data.
Code Strike
Expiry Type Ratio Effective

The Standard Bank of South Africa Limited (�Standard Bank�) is pleased to launch Commodity Reference Warrants (CoRW). CoRWs are listed on the JSE Limited and enable investors to trade commodities as an asset class.
What are Commodity Reference Warrants?

A commodity reference warrant (CoRW) is a derivative � its value is derived from another underlying asset, in this case a Commodity (Gold, Platinum, Oil, etc). More specifically, its value is based on the change in the Rand price of the underlying Commodity (e.g. R7.50 x $1,000.00)

CoRWs are available in both calls and puts, allowing investors to take advantage of Positive and Negative movements in the Rand value of the underlying commodity. Depending on the type of warrant traded, the investor has the right but not the obligation to either buy or sell the performance of the Rand value of the underlying commodity (e.g. the Rand Value of the Gold Price) at a specific Rand value (known as the strike price) on a specific date (known as the expiry or maturity date).

How do I identify a Commodity Reference Warrant?

Commodity Region

Learn More

Click here to Download the Commodity Reference Warrants Brochure