CBBC

A Callable Bull/Bear Contract (CBBC) is an instrument that tracks the performance of an underlying asset. The trading price of a CBBC tends to mirror the movement in the price of its underlying asset. Like warrants, CBBCs can be issued over a range of eligible underlying assets prescribed by the Exchange from time to time.

A CBBC can be issued as a bull contract or a bear contract:

(a) A "bull" CBBC may be invested in by an investor who holds a view that the price of the underlying asset will increase during the term of the CBBC.

(b) A "bear" CBBC may be invested in by an investor who holds a view that the price of the underlying asset will decrease during the term of the CBBC.

Characteristics of CBBC

Easy to Trade

You can trade CBBCs on the Exchange during trading hours, similar to trading stocks.

Potential Reward

The higher the leverage, the greater the potential reward and risk.

Mandatory Call Event

CBBC will be called by the issuer and expire early when the price or level of the underlying asset hits its call price or level.

Product Information Statement