Underlying(redirected from Underlying instruments)
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Related to Underlying instruments: Underlying asset
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.
A security, commodity, or other asset described in a derivative contact. For example, in an option contract giving the holder the right to buy so many shares of AT&T, the underlying instrument is stock in AT&T. Likewise, in a futures contract on so many barrels of refined oil, the underlying instrument is refined oil.
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