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A warrant is a financial derivative that gives the holder the right but not the obligation to buy or sell an underlying instrument at a specific price before the expiry date. Warrants are issued by companies and provide a way to speculate on their shares.
Traders may include warrants in their investing strategies as they provide an alternative way to conduct leveraged trading on Australian shares. They offer access to some of Australia’s leading companies' shares and a variety of other underlying instruments, such as indices, currencies, commodities and listed managed investments. Like options, warrants are listed and traded on the Australian Securities Exchange (ASX).
Warrants derive their value from an underlying instrument, for example a company share. They give the holder the right to buy or sell the underlying instrument at a particular price from or to the warrant issuer. Alternatively, holders can be entitled to a dividend at a particular time.
There are two types of warrants. 'Call' warrants refer to an arrangement to buy shares from the issuer, while 'put' warrants represent equity that can be sold back to the issuer.
Warrants may take the form of investment warrants (longer-term investments) and trading warrants (generally short-term). We offer access to both types via our stockbroking platform.
View more information on warrants and relevant forms.
Please note that you must also sign and return a warrant client agreement form before your account will be enabled for warrant trading.