Printer Friendly

MERRILL LYNCH & CO., INC. LISTS DEUTSCHE MARK CURRENCY WARRANTS ON THE AMEX

 NEW YORK, Sept. 23 /PRNewswire/ -- The American Stock Exchange yesterday opened trading on a new issue of Merrill Lynch & Co., Inc. U.S. Dollar/Deutsche Mark Put Currency Warrants with an expiration date of March 15, 1995.
 Listed under ticker symbol MDM.WS, the warrants opened on a first trade of 500 warrants at 4 3/8 and closed at 4 1/4 with a total volume of 32,200 warrants traded for the day.
 Trading much like a put option on the German mark and a call option on the U.S. dollar, the warrants would gain in value as the U.S. dollar strengthens against the mark.
 Underwritten by Merrill Lynch & Co., the 4 million warrants carry a strike price of DM 1.609 per U.S.$1 and are cash settled.
 "With lagging economic growth in many areas of the world and the prospect of lower interest rates, globally oriented investors are increasingly turning towards currency warrants to better manage existing investment risk," said Benjamin Krause, Amex Senior Vice President of Capital Markets. "These type of products also provide added accessibility to foreign currency markets," he added.
 A leader in the derivative securities arena, the Amex was the first U.S. stock exchange to trade warrants on the Deutsche mark, Japanese yen and the British pound. Currency warrants based on U.S. dollar in relation to the combined currencies of the pound, yen and mark were added this past January.
 The Amex is also the only U.S. marketplace that currently trades warrants based on London's Financial Times Stock Exchange Eurotrack 200 Index and France's CAC-40 Index. In addition, it is the home of Standard & Poor's Depositary Receipts (tm), SPDRs (tm)(pronounced SPIDERS) -- based on the domestic S&P 500 Index. Stock Index Return Securities on the S&P MidCap 400 Index trade on the Amex as well.
 -0- 9/23/93
 /CONTACT: Bob Shabazian, Managing Director of American Stock Exchange, 212-306-1630/


CO: Merrill Lynch & Co., Inc.; American Stock Exchange ST: New York IN: FIN SU:

LG -- NY015 -- 5084 09/23/93 09:53 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Sep 23, 1993
Words:348
Previous Article:GLOBAL NATURAL RESOURCES ANNOUNCES SUCCESSFUL OFFSET
Next Article:VIACOM 'BBB-/BB+' SR./SUB. DEBT MAINTAINED ON FITCHALERT POSITIVE -- FITCH FINANCIAL WIRE --
Topics:

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters