Identifying equity evidence is a kind of specific bond , holder has the right to be in prospective some is specific date ( or specific during inside ) , the price with the agreement ( honor the agreement the price ) buy / sell an a certain quantity of share 认股权证是一种特定的契约，持有人有权利在未来某一特定日期（或特定期间内） ，以约定的价格（履约价格）购买/卖出一定数量的股票。
The return of the warrant will partly weaken the traditional monetary assets , break the financial monopoly of bank , and promote the process of financial industrialization . the basic restraint of company ' s investment and financing will change with the innovation of financial instruments 认股权证在我国的重新推出必将在一定程度上弱化传统的货币金融资产,打破银行的金融垄断,推动金融产业化的进程,公司投融资的基本约束条件也将随着这种金融工具的创新而改变。
Knowing equity card full name is card of authorization of stock offer to buy , it by appear on the market the company is issued , to grant the investor of hold authority card in future a certain time or some period of time buy the right that measures this company stock certainly with the value that affirms beforehand 认股权证全称是股票认购授权证，它由上市公司发行，给予持有权证的投资者在未来某个时间或某一段时间以事先确认的价格购买一定量该公司股票的权利。
At the appointed time company stock rises in price , identify what equity card place sets more than buy the price , authority card hold person buy a share by subscribe price , earn market price case and admit buy the price difference between the price ; if at the appointed time the subscribe price that market price case compares an agreement is low still , authority card hold person can abandon subscribe 届时公司股票价格上涨，超过认股权证所规定的认购价格，权证持有者按认购价格购买股票，赚取市场价格和认购价格之间的差价；若届时市场价格比约定的认购价格还低，权证持有者可放弃认购。
Notwithstanding condition 5 . 4 , unless and until the bank receives any instructions to the contrary , the bank shall be authorised to present to the extent that the bank has actual notice thereof for payment all securities which are called , redeemed or retired or otherwise become payable and all coupons and other income items held by it for the account of the customer which call for payment upon presentation and shall hold such cash as is received by it upon such payment for the account of the customer ; hold for the account of the customer hereunder all stock dividends , rights and similar securities issued with respect to any securities held by it hereunder ; exchange interim receipts or temporary securities for definitive securities and hold such definitive securities for the account of the customer ; and deduct or withhold any sum on account of any tax required , or which in its view is required to be deducted or withheld or for which it is in its view , liable or accountable , by law or practice of any relevant revenue authority of any jurisdiction 尽管有第5 . 4 a条之规定，除非及直至本行收到任何相反之指示，本行将被授权i只限于本行有实际通知之范围内把所有被催交赎回或收回或其他成为应支付之证券及所有息票及由本行代客户之账户而持有并在出示时成为应付的其他收入项目出示以取得付款，及在取得该付款后代客户之账户持有该些现金ii在此等条件下代客户之账户持有一切就本行在此等条件下所持有的任何证券而发行之股票股息优惠认股权证及类似证券iii以中期收据或临时证券兑换正式证券及为客户之账户持有该正式证券及iv扣减或预扣任何税务规定之款项或本行认为须扣减或预扣之款项或本行认为根据任何司法管辖权区之任何有关税务机构之法律或惯例须支付或负责之款项。
“ equity securities ” means , with respect to a person , any shares , share capital , ownership interest , equity interest , or securities of such person , and any option , warrant , or right to subscribe for or purchase any of the foregoing , or any other security or instrument convertible into or exercisable or exchangeable for any of the foregoing “股本证券”就一主体而言，指该主体的任何股份、股本、所有者收益、股本收益或证券，以及认购或购买上述股份、股本、所有者权益、股权权益或证券的任何期权、认股权证或权利，或任何其他可以转换成或兑换成或用以取得上述股份、股本、所有者权益、股权权益或证券的担保或工具。
Capital pooled from a group of investors is invested into a collective portfolio of stocks , bonds , treasury bills and currencies in markets all over the world . professional fund managers monitor the market trends and closely manage portfolios in order to identify the best investment combination , to diversify investment risks , and ultimately to ensure sound investment returns 凭藉他们对市场的长期观察及专业分析，将资金分散投资于世界各地不同市场的股票债券认股权证及货币等各种投资工具上，务求选出最佳的投资组合，于分散投资风险之馀，亦能获取较佳回报。
The emergency and development of the derivative are inevitable requirement of the development of fictitious economic , and the characteristic of the warrant proves that it is suitable to be a breakthrough in the development of the derivative . in conclusion , the warrant has both positive factors and negative influences . chapter two probes into the application of the warrant in the company ' s financing 第一,衍生金融工具的产生与发展是虚拟经济发展的必然要求,而认股权证的特性说明它适宜作为发展衍生金融工具的突破口,因此借助认股权证作为发展衍生金融市场,进而发展经济的敲门砖是一个较好的选择。
