28th September 2026 (Monday)
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Market Commentary
3x Magnificent 7 DLCs Near Expiry: Explore 5x Alternatives

If you've been trading the US Stock DLCs, you may have noticed that the first batch of US 3x Magnificent 7 DLCs listed in 2024 will soon be expiring on the 6th of October.

Investors who wish to maintain leveraged or inverse exposure to these underlyings may consider alternative DLCs offering up to 5x exposure and later expiry dates here.


🔍 What happens to a DLC close to expiry and upon expiry?

A DLC will stop trading five business days before its Expiry Date. This is known as the Last Trading Date. After this date, investors will no longer be able to buy or sell the DLC.

However, between the Last Trading Date and the Valuation Date, the DLC will continue to track the daily percentage performance of its underlying asset based on its fixed leverage factor. The Valuation Date is typically one business day before the Expiry Date.

Following the Expiry Date, the DLC will be delisted. Investors who hold the DLC until expiry will receive a cash settlement, if any, based on its fair intrinsic value on the Valuation Date.

Investors who hold the DLC beyond its Last Trading Date will no longer be able to exit their positions but will remain exposed to leveraged movements in the underlying until the Valuation Date.

Any cash settlement will be paid on Settlement Date which is typically no later than five business days after the Expiry Date. Investors should refer to the DLC’s Listing Documents on our website for the exact dates.

Example:

Assuming for a certain DLC,

•        Last Trading Date: 29 September (Tuesday)

•        Valuation Date: 5 October (Monday)

•        Expiry Date: 6 October (Tuesday)

•        Settlement Date: No later than 13 October

•        Intrinsic Close on 29 Sept = SGD 0.2

•        Intrinsic Close on 5 Oct = SGD 0.25

The DLC above will stop trading on 29 Sept, cease to exist after 6 October, and the cash settlement of SGD 0.25 per unit of DLC will be paid out to investors by 13 October.

 To see the Cash Settlement Amount for a DLC that has expired, investors can refer to SG DLC website here.
5x U.S. MAGNIFICENT 7 DLCs

NEW GOLD & SILVER DLCs
New Issuance
Stock
Code		 DLC
Name		 Underlying Leverage
Factor		 Listing
Date
VWMW GigaDev 3xLongSG280313 GigaDevice Semiconductor Inc 3x 29/09/2026
SQIW Minimax 3xLongSG280313 Minimax Group Inc 3x 29/09/2026
UWCW Z AI 3xLongSG280313 Z AI Co Ltd 3x 29/09/2026
NITW Bilibili 5xLongSG280911 Bilibili Inc. 5x 25/09/2026
JDMW BYD 5xLongSG280911 BYD Company 5x 25/09/2026
ERWW Genting 5xLongSG290306 Genting 5x 25/09/2026
OLUW Micron 5xLongSG280915 Micron Technology Inc 5x 25/09/2026
X7TW Wilmar 5xLongSG290306 Wilmar 5x 25/09/2026
DLCs on this underlying asset is launched for the first time.
  CHECK OUT THE NEWLY LAUNCHED DLCs  
Education
US Stock DLCs: What are the benefits and how does it work?

Click here to watch the video
Top Gainers / Losers
Code Name Bid Change1
(%)
1R9W META 5xShortSG280726 +0.15
(+25.21%)
45GW MSFT 5xLongSG280726 +0.7
(+20.71%)
9DFW SMIC 5xShortSG280524 +0.045
(+18.75%)
ZAXW SMIC 5xShortSG270930 +0.002
(+18.18%)
MUSW NetEase 5xLongSG271116 +0.022
(+17.46%)
Code Name Bid Change1
(%)
SBWW META 5xLongSG280726 -2.66
(-24.77%)
ZDLW MSFT 5xShortSG280726 -0.78
(-20.42%)
XCVW CityDev 5xLongSG270930 -0.18
(-20.22%)
SJRW NetEase 5xShortSG261027 -0.002
(-18.18%)
WWZW SMIC 5xLongSG280316 -0.026
(-17.33%)
Bid Change (%)1: Change in Current Bid Price with respect to the Last Bid Price from the previous trading day.
Intinsic Closing Value: Last updated on 28/09/2026
  READ MORE  
Top 10 traded DLCs
Code Name Underlying1
Chg (%)		 Bid Change2
(%)		 Bid Price Value traded
Y9GW HSTECH 3xShortSG280309 -0.53% +0.015
(+1.16%)		 1.310 437K
XNOW HSTECH 7xShortSG280120 -0.53% +0.04
(+2.83%)		 1.455 263K
B00W HSI 3xLongSG280309 +0.50% +0.015
(+1.32%)		 1.155 248K
ZOGW HSI 7xLongSG270623 +0.50% +0.02
(+2.94%)		 0.700 239K
HKRW HSTECH 5xShortSG280330 -0.53% +0.06
(+2.20%)		 2.790 215K
FNTW HSTECH 7xShortSG270729 -0.53% +0.015
(+3.80%)		 0.410 146K
XCVW CityDev 5xLongSG270930 -3.87% -0.18
(-20.22%)		 0.710 146K
9B2W HSTECH 7xShortSG270309 -0.53% +0.004
(+2.92%)		 0.141 138K
CVMW HSI 5xLongSG261029 +0.50% +0.02
(+2.40%)		 0.855 137K
YPLW Keppel 5xLongSG280725 +0.18% -0.005
(-1.43%)		 0.345 122K
Underlying Chg (%)1: Data calculated based on the percentage change in underlying asset price between 28/09/2026 and 28/09/2026 10:20.
Bid Change (%)2: Change in Current Bid Price with respect to the Last Bid Price from the previous trading day .
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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.

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