UNDERLYING ASSET
\ˌʌndəlˈa͡ɪɪŋ ˈasɛt], \ˌʌndəlˈaɪɪŋ ˈasɛt], \ˌʌ_n_d_ə_l_ˈaɪ_ɪ_ŋ ˈa_s_ɛ_t]\
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Commodity, security or financial instrument that is represented in a derivative.
By Henry Campbell Black
