Warrants provide investors an alternative way to invest in a variety of tradable assets and the opportunity to access higher growth while reducing exposure to any one particular asset or risk. They derive their value from an underlying asset such as a security, an index, a commodity, a currency or an interest rate. Certain warrants investors with the option to buy or sell the underlying assets at a predetermined price. Alternatively, other warrants offer cash payments that reflect of the underlying asset at a particular time.

Warrants can provide diversification to a portfolio or offer the potential to leverage market shifts. There are varying styles of warrants and ways in which they can be used, depending on investors risk appetite, personal circumstances and investment objectives.

As of 31 March 2025, Cboe Australia offers over 1,100 uniquely quoted warrants, covering equities from Australia's largest companies, indices, currencies, commodities and fixed income.