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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