Search Contact euronext.com For Investors Warrants & Certificates The Euronext Warrants & Certificates trading platform focuses on investor protection, market quality and efficiency. Why trade Warrants & Certificates on Euronext Unique market model Our Warrants & Certificates market model combines the benefits of Central Order Book trading and Request For Quote (RFQ). You can leave Limit and Stop Orders in the order book. Requests For Execution (RFE) are sent to liquidity providers. LPs can update trading thresholds and quotes if need be, ensuring executions at most up-to-date prices. Access a unique type of stop order for Warrants & Certificates: the Stop-On-Quote order. The activation is based on the liquidity provider's quotes rather than last traded price. Trade Warrants & Certificates between 08:00 CET and 22:00 CET*. Some products can benefit from specific features such as: Knock-In By Issuer (KIBI) to replicate intraday listing Knock-Out By Issuer (KOBI) to suspend trading in real time following a knock-out event Payment After Knock-Out (PAKO) to facilitate intraday residual value payment. *Ask your broker if he offers trading until 22:00 CET. Investor protection For investor protection, you will not be able to trade outside of the liquidity provider's bid-offer spread At worst, investors will trade against the liquidity provider. At best, investors will trade against each other. Such trade will happen inside the liquidity provider's bid-offer spread, improving execution price. To prevent trading at aberrant prices, order books are suspended if the liquidity provider is absent. Market quality and efficiency To ensure investors can trade at all times, the issuer must appoint a liquidity provider for each Warrant or Certificate. Liquidity providers sign an agreement with Euronext, binding them to performance obligations: Minimum presence time Maximum bid-offer spread Minimum bid and offer quantities To improve efficiency and transparency, Euronext makes liquidity provider performance publicly available. Trading against other investors inside the liquidity provider's bid-offer spread can also result in execution price improvement. All trading activity is monitored in real time by Euronext Market Surveillance. List of Warrants & Certificates WARRANTS & CERTIFICATES DIRECTORY List of active Warrants & Certificates issuers Euronext Amsterdam Euronext Brussels Euronext Lisbon Euronext Paris Contacts Structured Products Team General assistance +33 (0)1 70 48 28 90 structured.products@euronext.com COMPANY ESG | Empowering Sustainable Growth About Investor Relations Careers Media Regulation MARKETS Amsterdam Brussels Dublin Lisbon Milan Oslo Paris LinkedIn Twitter YouTube Footer Small Print Menu © 2021 Euronext Privacy Statement Terms of Use More info Strictly Necessary Cookies Performance Cookies Save preferences Accept all cookies Withdraw consent