4th March 2022 (Friday)
[Click here for DLC product list]
Market Commentary
Launch of 5x DLCs on S&P500 Index

Societe Generale is pleased to announce the launch of four DLCs offering exposure to US equity indices, starting with the S&P 500 index from Friday, 4 March. Subsequently, we look to cover more US market indices such as Nasdaq100 and Dow Jones Industrial Average Indices. 

The new products listed for trading on SGX Securities market include both long and short DLCs with a leverage of up to five-times the daily return of the S&P 500 index. For more information on the DLCs on US equity indices, please visit https://dlc.socgen.com/usdlc 

Please note the S&P 500 DLCs are only traded during SGX market hours from 9.00am to 5.00pm when the US market is closed, hence the DLCs intra-day price movements will be closely linked to the performance of the e-mini S&P 500 futures which are traded during Asian hours. 
CYAW
S&P 5xLongSG250228A
SPX 5x Long
Last Price1
1.460 -0.04
(-2.67%)
Last Update: 04/03/2022 12:02
 
CZEW
S&P 5xShortSG250228A
SPX 5x Short
Last Price1
1.605 +0.105
(+7.00%)
Last Update: 04/03/2022 12:02
Last Price1: The DLC price displayed is based on the 'bid price' instead of the 'traded price'. This is to provide a more accurate representation of the DLC value at each particular point in time and a more accurate reflection of DLC price changes. DLCs do not trade as frequently as shares and sometimes may not record a trade for a long period of time though the bid/offer prices quoted by the Designated Market Maker may continue to move, therefore using the bid price is usually the best indicator of a DLC value.
  CLICK FOR MORE PRODUCT INFO  

 

New Website Features Launched

•    Create a Watchlist of your favourite DLCs
•    Gain Market Insights with fund flows for DLCs & Underlying Stocks
•    Compare DLCs easily to choose the best one for your target exposure
•    Identify trends with Charting Tools
New Issuance
Stock
Code		 DLC
Name		 Underlying Leverage
Factor		 Listing
Date
CUEW S&P 5xLongSG250228 S&P500 Index 5x 04/03/2022
CXBW S&P 5xShortSG250228 S&P500 Index -5x 04/03/2022
CYAW S&P 5xLongSG250228A S&P500 Index 5x 04/03/2022
CZEW S&P 5xShortSG250228A S&P500 Index -5x 04/03/2022
DLCs on this underlying asset is launched for the first time.
  CHECK OUT THE NEWLY LAUNCHED DLCs  
Latest Events
Upcoming Webinar Series

 Hear from these renowed speakers on how to make the most out of DLCs in the sessions scheduled below. 

Date Time   Topic (Registration Link) Speaker
07/03/2022 12.00-12.30pm [InvestingNote] Moving Markets Series  Desmond Leung
24/03/2022 7.00-10.00pm

[MasterClass] A Systematic Approach to Trade Strong Momentum Stocks

 Binni Ong
This newsletter may contain links to other websites which are not operated by Société Générale, Singapore Branch (“SG Singapore”). We have no control over the information referred to on these sites or the products or services on them, and therefore makes no representations and accepts no responsibility regarding the accuracy or suitability of the information, services or products described on them. You are advised to make your own enquiries in relation to third parties described or linked on this internet site. Inclusion of a link to a third party site should not be construed as an endorsement of such third party site by us or that party's endorsement of this Website.
Education
Does the Airbag Mechanism apply to the S&P500 DLCs?

Yes, all DLCs have an Airbag Mechanism. Investors should note that Air Bag mechanism on US equity index DLCs can only be triggered by the US equity index, but not the futures. In other words, for DLCs over US equity index, given there is no overlap between US trading hours and SGX trading hours, this means the Air Bag Mechanism cannot be triggered during SGX trading hours. Even if the price of the DLCs were to move significantly (e.g. more than 10%) during SGX trading hours, the airbag mechanism will never be triggered during SGX trading hours.

If the US equity index reaches the corresponding Air Bag Trigger Level overnight (during US trading hours), and the Air Bag Mechanism is triggered, then the exposure of the Leverage Strategy or Leverage Inverse Strategy (if applicable) will be reduced intra-day during US trading hours before a normal daily reset at US market close. In the event of an airbag triggered during US trading hours, announcement will be made on SGXNet before SGX opens for trading the next day.

For details on the airbag mechanism relating to DLCs with US underlying indices, read more here.
DLC Funds Flow Chart
Each DLC’s funds flow for the previous trading day on 03/03/2022 is calculated by change in the DLC’s outstanding units for the period from 02/03/2022 to 03/03/2022 (positive if there is increase in outstanding units, i.e. investors net bought DLCs from Designated Market Makers) multiplied by the last intrinsic close of such DLCs. The DLC funds flow is the aggregate of the funds flow of DLCs referencing the same Underlying Asset and same direction.
 
Top Gainers / Losers
Code Name Bid Change1
(%)
DSJW Xpeng 5xShortSG221223 +0.503
(+61.57%)
DJKW Bilibili 5xShortSG221223 +0.741
(+58.40%)
DXBW Xiaomi 5xShortSG230907 +0.007
(+36.87%)
DFBW Meituan 5xShortSG221215 +0.476
(+35.81%)
DUDW JD 5xShortSG220908 +0.059
(+35.63%)
Code Name Bid Change1
(%)
DXKW Xpeng 5xLongSG221223 -0.051
(-60.99%)
DTXW Bilibili 5xLongSG221223 -0.025
(-56.16%)
DGZW Meituan 5xLongSG221215 -0.012
(-35.47%)
DJDW JD 5xLongSG230615A -0.031
(-32.59%)
DINW BYD 5xLongSG231012 -0.007
(-31.77%)
Bid Change (%)1: Current Bid Price / Intrinsic Closing Value - 1
Intinsic Closing Value: Last updated on 03/03/2022
  READ MORE  
Top 10 traded DLCs
Code Name Underlying1
Chg (%)		 Bid Change2
(%)		 Bid Price Value traded
DIHW Tencent 5xLongSG231214 -3.82% -0.147
(-16.76%)		 0.730 2M
DLCW BYD 5xLongSG230202 -6.45% -0.277
(-29.39%)		 0.665 2M
DKEW KepCorp 5xLongSG230920 -0.83% -0.046
(-3.38%)		 1.315 587K
DJFW BYD 5xLongSG220315 -6.45% -0.055
(-29.56%)		 0.131 562K
DTGW SIA 5xLongSG230713 -1.37% -0.035
(-4.17%)		 0.805 423K
NXEW CapInv 5xLongSG231115 -1.07% -0.024
(-3.61%)		 0.640 322K
DMUW OCBC 5xLongSG221201 -0.43% -0.008
(-0.96%)		 0.825 278K
DZDW ANTA 5xLongSG231019 -0.95% -0.019
(-4.76%)		 0.380 178K
DQIW CityDev 5xLongSG220331 -1.26% -0.019
(-4.14%)		 0.440 177K
DTMW CMOB 5xLongSG250213 -0.57% -0.006
(-0.79%)		 0.755 147K
Underlying Chg (%)1: Data calculated based on the percentage change in underlying asset price between 03/03/2022 and 04/03/2022 11:59.
Bid Change (%)2: Data calculated based on the percentage change in last intrinsic closing value on 03/03/2022 and last bid price on 04/03/2022 12:02.
SEARCH FOR A DLC
   
DISCLAIMER

This advertisement has not been reviewed by the Monetary Authority of Singapore (“MAS”). This advertisement is distributed in Singapore by MAS licensed representatives of Société Générale, Singapore Branch. If you wish to discuss this advertisement, you should do so with your financial adviser, authorised broker or with MAS licensed representatives of Société Générale, Singapore Branch. This advertisement does not constitute or form part of any offer, or invitation, to subscribe for or to sell, or solicitation of any offer to subscribe for or to purchase, any certificates on indices/equities (the “Certificates” or “Daily Leverage Certificates”), warrants or other securities. Nothing herein should be considered as investment or financial advice or any form of recommendation to purchase or sell the Certificates/Daily Leverage Certificates, warrants or other securities mentioned. Information herein is intended as general information only and does not take into account the specific investment objectives, financial situation and the particular needs of any particular person. The price of Certificates/Daily Leverage Certificates, warrants or other securities and/or the price of the underlying asset may fall in value as rapidly as it may rise and holders may sustain a total loss of their investment. Investments in the Certificates/Daily Leverage Certificates, warrants or other securities carry risks. Any past performance of the Certificates/Daily Leverage Certificates, warrants or other securities, or past performance of an underlying asset, is not indicative of future performance. This document does not constitute a full disclosure of the risks involved. Members of the Société Générale group and/or its connected persons may take proprietary positions and may have long or short positions or other interests in the Certificates/Daily Leverage Certificates, warrants or other securities and may purchase and/or sell the Certificates/Daily Leverage Certificates, warrants/ or other securities at any time in the open market or otherwise, in each case whether as principal, agent or market maker.

The Certificates/Daily Leverage Certificates are for specified investment products (SIP) qualified investors only.

The terms and conditions of any Certificates/Daily Leverage Certificates, warrants or other securities must be read in conjunction with the base listing documents for those Certificates/Daily Leverage Certificates, warrants or other securities and the relevant supplemental listing document. Investors should therefore ensure that they understand the nature of the Certificates/Daily Leverage Certificates, warrants or other securities and carefully study the risk factors set out in the base listing document and the relevant supplemental listing documents and, where necessary, seek professional advice before investors invest in the Certificates/Daily Leverage Certificates, warrants or other securities. Copies of the base listing document, which contains financial and other information relating to the Issuer and any addenda thereto and the relevant supplemental listing documents, which contain details of the Certificates/Daily Leverage Certificates, warrants or other securities, can be obtained from the Allen & Gledhill LLP at One Marina Boulevard #28-00, Singapore 018989. Investors should read these documents in their entirety before agreeing to invest in the Certificates/Daily Leverage Certificates, warrants or other securities. This is a structured product which involves derivatives and investors should not invest without fully understanding and being willing to assume all risks associated with the Certificates/Daily Leverage Certificates, warrants or other securities. Investors should ensure they understand the risks, nature, terms and conditions of the Certificates/Daily Leverage Certificates, warrants or other securities and consult their own legal, financial, tax and professional advisers regarding the suitability and risks before committing to any investment.

Investors risk the loss of part or all of their investment. Investment in the Certificates/Daily Leverage Certificates, warrants or other securities involves significant levels of risks and the Certificates/Daily Leverage Certificates, warrants or other securities should only be purchased by investors who are knowledgeable in investment matters or who have obtained appropriate investment advice.

Société Générale and its affiliates (the “SG Group”) act in different capacities in relation to the issue of the Certificates/Daily Leverage Certificates, warrants or other securities. SG Issuer is the issuer of the Certificates/Daily Leverage Certificates, warrants or other securities (the “Issuer”), Société Générale acts as designated market maker for the Certificates/Daily Leverage Certificates, warrants or other securities. Société Générale, Singapore Branch is also authorized to distribute and market the Certificates/Daily Leverage Certificates, warrants or other securities to its customers. For the avoidance of doubt and as an independent stipulation, investors agree that by purchasing the Certificates/Daily Leverage Certificates, warrants or other securities, the SG Group may provide different services and/or perform different roles in relation to the issuance, offer and/or dealing in the Certificates/Daily Leverage Certificates, warrants or other securities. The investor acknowledges and agrees that the provision of such services or the undertaking of such roles may not always be consistent with the interests of the issuer and/or the investors. The investor agrees that subject to mandatory applicable law which the SG Group cannot derogate from, no implied duties or obligations shall be imposed on SG Group to the investor under the Certificates/Daily Leverage Certificates, warrants or other securities, and in connection with or as a result of the investor’s subscription or purchase of the Certificates/Daily Leverage Certificates, warrants or other securities.

The Issuer or Société Générale may have a position or a material interest in any underlying asset.

The Issuer, Société Générale or any of their affiliates may engage in transactions involving the underlying asset for their own account for business reasons or in connection with hedging of the obligation under this Certificates/Daily Leverage Certificates, warrant or other securities. Conflicts of interest may arise as a result of such transactions within the SG Group and with the interest of investors. The Issuer, Société Générale and their affiliates are not required to consider any investors’ interests in connection with entering into any of the above mentioned transactions.

The Issuer, Société Générale and their affiliates may receive benefits and/or profits as a result of its multiple roles as designated market maker and/or distributor (whether in the nature of a fiduciary, similar or additional duty or relationship or otherwise) and fully consents to the retention of such benefits and/or profits for their own account. Each investor acknowledges and agrees that none of the Issuer, Société Générale and their affiliates is obliged to notify, and is liable to account to, an investor or any other person for (and each investor or such other person shall not be entitled to ask for disclosure of the fact or the amount of, any fees resulting from any of the aforementioned roles, other than is already disclosed in the offering documents for the Certificates/Daily Leverage Certificates, warrants or other securities. Each investor agrees that the investor will have no claim against the Issuer, Société Générale and their affiliates for, and the investor consents to the receipt, acceptance and retention by the Issuer, Société Générale and their affiliates of, such fees arising from any such multiple roles.

Société Générale does not make any warranty, express or implied, as to the accuracy or completeness of the information contained herein. No responsibility or liability is accepted by Société Générale for any inaccuracies, omissions, mistakes or errors of Société Générale in the computation of the cash settlement amount or for any economic or other loss which may be directly or indirectly sustained by any broker or holder of the Certificates/Daily Leverage Certificates, warrants or other securities or any other person dealing with the Certificates/Daily Leverage Certificates, warrants or other securities as a result thereof and no claims, actions or legal proceedings may be brought against Société Générale in connection with the Certificates/Daily Leverage Certificates, warrants or other securities in any manner whatsoever by any broker, holder or other person dealing with the Certificates/Daily Leverage Certificates, warrants or other securities. Any broker, holder or other person dealing with the Certificates/Daily Leverage Certificates, warrants or other securities does so therefore in full knowledge of this disclaimer and can place no reliance whatsoever on Société Générale. For the avoidance of doubt, this disclaimer does not create any contractual or quasi-contractual relationship between any broker, holder or other person and Société Générale and must not be construed to have created such relationship.

The Certificates/Daily Leverage Certificates, warrants or other securities are not deposits placed with Société Générale.
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