Content Options:

Content Options

View Options:


You are viewing the version of the document as on 2021-01-29.

underlying instrument

(in LR) (in relation to securitised derivatives) means either:

  1. (a) if the securitised derivative is an option or debt security with the characteristics of an option, any of the underlying investments listed in article 83 of the Regulated Activities Order; or
  2. (b) if the securitised derivative is a contract for differences or debt security with the characteristics of a contract for differences, any factor by reference to which a profit or loss under article 85 of the Regulated Activities Order can be calculated.12