commodity

1. (1)5052(except for (2)211) 52 a physical asset (other than a financial instrument or cash) which is capable of delivery.48
2. (2)50 (for the purpose of calculating position risk requirements and for the purposes of COBS 22234) any of the following (but excluding gold):48
   1. (a) a commodity within the meaning of paragraph (1); and48
   2. (b) any:48
      1. (i) physical or energy product; or48
      2. (ii) of the items referred to in paragraph 10 of Section C of Annex I of211 MIFID as an underlying with respect to the derivatives mentioned in that paragraph;48
      which is, or can be, traded on a secondary market.48
3. (3) (in relation to MiFID or MiFIR)211 any goods of a fungible nature that are capable of being delivered, including metals and their ores and alloys, agricultural products, and energy such as electricity211.52

[Note: article 2(6) of the MiFID Org Regulation211]