I agree with you totally , its pathetic , that a bank with such statue can do such a thing , yes , they have to cover there cost , since they there to make money . but the pushing this to far , and are leaving a dent in our portfolio's
can't comment directly as you didn't mention which warrant/wave. But some thoughts; on the DB waves the spread is always wide as they have delta 1 (or very close) and hence the warrant moves fast and crosses the spread quickly. Also depends on underlying stock spread. Further may be bid only (albeit to my memory no DB warrant/wave is bid only). Last point is call them and ask - 011 775 7236.