Warrant
A warrant gives the holder the right to buy shares of the issuing company at a specified price within a specified timeframe.
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Expanded Definition
Although both are equity derivatives the major difference between warrants and call options is that warrants are issued directly by the company. They also tend to be longer dated than options, it's not uncommon for warrants to be valid for years, whereas Options tend to only be good for months.
Warrants in other respects generally function similar to options. They can be exercised , have expiration dates and have gearing.
Warrants occasionally trade on exchanges.
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