How do I exercise a warrant?

ACCESS CORPORATE ACTION MANAGER

SEND TICKET TO CLIENT SERVICES

Customers requesting to exercise US or Canadian warrants that are settled can submit a request through the Corporate Action Manager. Please use the button above or follow the below procedure to submit your election in the Corporate Action Manager:

  1. Log in to Client Portal.
  2. Click the Help menu (question mark icon in the top right corner) followed by Support Center.
  3. Scroll down and select Corporate Actions Manager.
  4. Click on Warrant Exercises tab.
  5. Select the specific warrant to exercise.
  6. Once done, click Save to submit your exercise request.

In the event that the US or Canadian symbol that you are attempting to exercise does not appear under the Warrant Exercise tab please submit a ticket. Please use the button above or follow the below procedure to submit your election via the Message Center:

  1. Log in to Client Portal.
  2. Select the Help menu (question mark icon in the top right corner) followed by Secure Message Center.
  3. Click Compose then New Ticket
  4. Select Account Services as the category and Corporate Actions/Dividends as the topic. (Only settled warrants can be exercised.)
  5. Tickets should include the following information:
  • Request Subject should be "Warrant Exercise Request"
  • The warrant Name and Symbol (no need to specify the CUSIP of the warrants)
  • The stated action ("Exercise")
  • The Account Number and EXACT Number of Warrants you wish to exercise (“ALL” is not a valid instruction)
  • Agree to the terms and, if applicable, indicate whether the exercise is a Cash or Cashless exercise

Please Note

  • The broker will pass through all associated exercise costs to the customer upon completion of the request.
  • Cash exercises typically take 1-2 business dates for the warrants to be converted into shares. Cashless exercises typically take 2-3 business dates for the warrants to be converted into shares.
  • US or Canadian warrants are not eligible for auto-exercise at expiration. Warrants remaining in an account at expiration will be removed as worthless
  • Warrants listed on European exchanges cannot be exercised before expiry. They will auto-exercise at expiration if they are in-the-money, otherwise they will be removed as worthless.

Additional Information

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