Securities
3. Exchange-traded Fund:
Exchange-traded funds ("ETFs") are funds or unit investment trusts that hold portfolios of securities which are designed generally to correspond to the price and yield performance of their underlying portfolio of securities, with a theme and a creation and redemption facility, that trade on the Exchange as a single security.

4a. Equity Warrants:
Equity warrants are warrants carrying the right to subscribe for equity securities of an issuer or any of its subsidiaries at a pre-determined price. Equity warrants listed in Hong Kong are generally U.S.-style warrants and may be exercised at any time prior to maturity. European-style warrants, on the other hand, may only be exercised upon maturity of the warrant. Equity warrants must have a minimum term of one year and a maximum of five years from the date of issue or grant. The issuer of the warrants is obliged to deliver the securities upon full payment from the warrantholder.

Product descriptions are extracted from the information of the Hong Kong Exchanges and Clearing Limited