TRADING WARRANTS IN EMERGING MARKETS

The aim of this paper is to investigate trading warrants in the 29 world stock exchanges. For this purpose author focused on emerging markets as they are defined by Financial Times Stock Exchange. In these markets investor's behavior must be observed in different context then in the well developed markets. The main problem solved is whether different features of such markets cause lower trading volumes of these financial derivatives or if there is no difference from not-emerging markets. Other aim is to compare emerging markets among each other and describe the links between trading volumes of warrants and particular economical factors that could possibly affect them. It is shown that emerging level of a market affects trading warrants.