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GLOSSARY

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Term Definition
Underlying

The underlying instrument (also referred to as the “underlying”) of a derivative (e.g. option, warrant, futures contract) is the basis on which the price of the derivative (e.g. a share, bond, index, currency or commodity) is determined and dependent.

Author: SIX Swiss Exchange
Hits: 38
Underwriter

The party which arranges for the issue of new securities. Underwriters guarantee full subscription by taking up all unsubscribed shares.

Author: Singapore Exchange
Hits: 46