牛熊證涉及之特定風險 Sample Clauses

牛熊證涉及之特定風險. 3.1 強 制 收 回 牛熊證並不適合所有投資者,投資者在買賣牛熊證前應先考慮本身能承受多少風險。在任何情況下,除非投資者清楚明白牛熊證的性質,並已準備好隨時會損失所有的投資金額,否則投資者不應買賣牛熊證,因為萬一牛熊證的相關資產價格觸及收回價,牛熊證會即時由發行商收回,買賣亦會終止。N 類牛熊證將不會有任何剩餘價值。若是R 類牛熊證,持有人或可收回少量剩餘價值,但在最壞的情況下亦可能沒有剩餘價值。經紀代其客戶從發行商收回剩餘價值款項時或會收取服務費。 一般來說,收回價與相關資產現價的相差越大,牛熊證被收回的機會越低,因為相關資產的價格需要較大的變動才會觸及收回價。但同一時間,收回價與現價的相差越大,槓桿作用便越小。 當牛熊證被收回後,即使相關資產價格反彈,該隻牛熊證亦不會再次復牌在市場上買賣,因此投資者不會因價格反彈而獲利。若屬海外資產發行的牛熊證,強制收回事件可能會於香港交易所交易時段以外的時間發生。
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