Leveraged market exposure

MINI trading warrants (MINIs) provide the potential for a high return for a relatively small capital investment by providing leveraged exposure to shares, indices, currencies and commodities.
With MINIs you can trade in the rise and fall of markets for a fraction of the underlying asset price, without having to own them outright. You'll never be exposed to margining and your maximum possible loss is no greater than your initial outlay.
MINIs are leveraged trading warrants - MINI Longs offer exposure to rising markets, while MINI Shorts offer exposure to falling markets and can be used to hedge existing positions. For active traders, MINIs are simple to trade through your CommSec Trading Account.

Benefits

Profit from rising or falling markets

Use MINIs for leveraged trading on rising or falling markets. So whatever the markets are doing, you can potentially profit from your market view.

Transparent pricing

The market price of MINIs tracks the price movements in line with the underlying asset price. The pricing takes into account the Strike Price, which is the finance provided by the issuer. See 'How they work' below.

Funding costs charged daily

Funding costs are applied to the Strike Price daily, and differ depending on the issuer, underlying asset and whether the MINI is Long or Short. Refer to the issuer for information.

Limited risk

MINIs have an inbuilt Stop Loss. This ensures that the value of the MINI cannot be negative and you cannot lose more than your initial outlay.

No set expiry dates

MINIs have no set expiry dates. However, if a Stop Loss is triggered or the issuer calls an early termination, the MINI will expire. Refer to the issuer for specific information.

Wide asset range

You can gain exposure to a wide range of underlying assets including shares, indices, currencies and commodities. Refer to the issuer for specific information.

Risks

Leveraging can magnify losses

If the value of the underlying asset moves against you, this will lead to a larger percentage fall in the MINI price.

Specific risks

Each MINIs series has its own specific risks. You should consider the Product Disclosure Statement (PDS) (available from the issuer) before making any investment decision.

Issuer risk

You are exposed to the Issuer of the MINI series not performing its obligations. MINIs are are not guaranteed by the ASX, the National Guarantee Fund, ASX Clear or any other person.

Funding costs risk

The issuer has the right to change interest rates that may impact and the holding cost of the MINI.

Extraordinary events

Extraordinary events and potential changes to the MINI terms could adversely affect the value and limit the life of a MINI.

Stop Loss trigger

If the built-in Stop Loss is triggered the MINI will be suspended with a remaining value to be determined by the issuer. This could be zero.

How they work

MINIs provide traders with the opportunity to trade rising or falling markets on a leveraged basis. MINI longs give traders the opportunity to profit from rising markets. MINI Shorts give traders the opportunity to profit from falling markets. MINIs have an in-built Stop Loss which limits any losses to the MINI Price you pay on the ASX to open a trading position. With no set expiry dates, MINIs have the potential to provide you with exposure to a trading position for a time that suits you without the need to roll maturities like other derivatives. MINIs can be bought and sold on the ASX.

Rates and fees

Trade Execution

Brokerage fee amount by transaction value

Trade online and settle your trade to a CDIA1 or CommSec Margin Loan1

$10.00 (Up to and including $1,000)

$19.95 (Over $1,000 up to $10,000 (inclusive))

$29.95 (Over $10,000 up to $25,000 (inclusive))

0.12% (Over $25,000)

Trade online and settle into a bank account of your choice

$29.95 (Up to and including $9,999.99)

0.31% ($10,000 and above)

Share Trades over the Phone2

$59.95 (Up to and including $10,000)

0.52% (Over $10,000 up to $25,000 (inclusive))

0.49% (Over $25,000 up to $1,000,000 (inclusive))

0.11% (Over $1,000,000)

CommSec Share Packs online3

$66 per pack of 6 stock (equates to $11 per stock4)

CommSec Share Packs over the phone3

$181.50 per pack of 6 stock (equates to $30.25 per stock4)

Trades requiring settlement through a third party5

$99.95 (Up to and including $15,000)

0.66% (Over $15,000)

One Off Trades

$66.00 (Up to and including $10,000)

0.66% (Over $10,000)

Deceased Estates

$81.90 (Up to and including $15,000)

0.54% (Over $15,000)


 

To be eligible, you must trade online, be CHESS Participant Sponsored with CommSec and settle your trades through either a Commonwealth Direct Investment Account (CDIA) or a CommSec Margin Loan.

Brokerage charged (shares, warrants and listed managed investments): Brokerage at these rates applies each time you buy or sell a stock, warrant or listed managed investment.

Normal brokerage will apply when a stock acquired through CommSec Share Packs is subsequently sold.

Amount per share will be noted as brokerage on each confirmation issued. There will be no substitution should a stock have a trading halt placed on it.

Includes third party Margin Lending, and where the Commonwealth Bank exercises its rights under the loan Terms and Conditions.

Funding costs vary depending on the issuer and the underlying asset. Generally, funding costs are capitalised daily and added to the MINI's Strike Price. Refer to the issuer for specific information.

Get started

Step 3

MINIs have different features. Visit issuer websites to learn more and review the relevant PDS before making decisions. For a full list of issuers, see the ASX website.

Step 4

Start trading. MINIs are traded in a similar way to shares. Simply log on to your CommSec trading account and enter the ASX code of the MINI you want to trade.

Important Information

MINIs trade on the ASX. Warrants are issued by various financial institutions pursuant to the relevant Product Disclosure Statement (“PDS”) which may be amended or supplemented from time to time. You should carefully consider the PDS before making any investment decision, including whether to acquire, or continue to invest in that product.

The information on this site is not advice and has been prepared without taking account the objectives, financial and taxation situation or needs of any particular individual. For this reason, any individual should, before acting on the information on this site, consider the appropriateness of the information, having regard to the individual's objectives, financial and taxation situation and needs, and, if necessary, seek appropriate professional advice.

 

Disclaimer

This site is directed and available to and for the benefit of Australian residents only. © Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814 ("CommSec") is a wholly owned, but non guaranteed, subsidiary of the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945 and both entities are incorporated in Australia with limited liability.

By clicking on the "Download the CommSec App" buttons above, you will be directed to itunes.apple.com or play.google.com. These sites are not affiliated with CommSec and may offer a different Privacy Policy and level of security.

Top