Underlying asset

Underlying asset means:
(1) The security or other asset that will be delivered upon exercise of an option; or
(2) In the case of a cash-settled option, the securities or other assets which comprise the index or other measure from which the option's value is derived.


12 CFR § 220.2

Scoping language

The terms used in this part have the meanings given them in section 3 of the Act or as defined in this section as follows:

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