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The letters XW are a symbol used to identify when a security is trading ex-warrant. When a security is denoted with XW, a warrant has essentially been declared but not distributed. In the case of XW, the distribution of the security would still belong to the seller rather than a potential purchaser. If a stock is sold while flagged XW, it means that it is selling after the specified date. Therefore, a buyer is not entitled to the attached warrants of an XW stock. In addition to traditional stocks, mutual funds and bonds can also fall into an XW status. The symbol XW is often seen in financial newspapers and on financial Web sites. XW is also widely used in NASDAQ terminology.

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