V1033 Scorpii is a binary system composed of a F-type star, and black hole GRO J1655-40. This black hole is a so-called microquasar: A black hole sharing characteristics of black hole quasars at the center of galaxies. Microquasars pull matter from the companion star which forms an accretion disk around the black hole. This accretion disk may become so hot, due to friction, that it begins to emit X-rays. The disk also projects narrow streams or "jets" of subatomic particles at near-light speed, generating a strong radio wave emission.

GRO J1655-40 was first studied in detail by the Chandra X-Ray Telescope in 2005. Several smaller bodies exist in the system. In particular, the moon of gas giant AB 1 has a high orbital inclination and should provide excellent views of the gas giant and rings when at the right time in the moon's 3.4 day orbit. The black hole can provide unique lensing effects on nearby nebula NGC 6357.