The Law Dictionary

Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.


An EXCHANGE TRADED DERIVATIVE or OVER THE COUNTER DERIVATIVE with an UNDERLYING reference based on nonfinancial COMMODITIES including chemicals, energy, base and precious metals, livestock, GRAINS, and SOFTS. A commodity derivative can be structured as a COMMODITY FUTURE, commodity FORWARD, commodity OPTION, or COMMODITY SWAP See also CREDIT DERIVATIVE, CURRENCY DERIVATIVE, EQUITY DERIVATIVE, INTEREST RATE DERIVATIVE.


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