underlying

The commodity/asset/financial instrument on which a derivative is based For example, in the case of an option, the product which the buyer/holder has the right to buy/sell

The "something" that the parties agree to exchange in a derivative contract

Lying under or beneath; hence, fundamental; as, the underlying strata of a locality; underlying principles

Whatever the warrant is issued on, a ASLI40 stock, index, bond and internationally currencies etc

located beneath or below

You describe something as underlying when it is below the surface of something else. hills with the hard underlying rock poking through the turf see also underlie. underlying cause/principle/problem etc the cause, idea etc that is the most important, although it is not easily noticed

The amount of insurance or reinsurance on a risk (or occurrence) which applies to a loss before the next higher excess layer of insurance or reinsurance attaches

in the nature of something though not readily apparent; "shortcomings inherent in our approach"; "an underlying meaning"

being or involving basic facts or principles; "the fundamental laws of the universe"; "a fundamental incompatibility between them"; "these rudimentary truths"; "underlying principles"

The security on which options are being bought or sold

the market upon which a financial contract (I e futures, indices, options) is based

The security that one has the right to buy or sell according to the terms of an option contract

What supports the security or instrument that parties agree to exchange in a derivative contract

The commodity, instrument, or futures contract on which a futures option is based, and which must be accepted or delivered if the option is exercised Also, the cash commodity or financial instrument underlying a futures contract

The actual asset that the long receives at contract delivery Futures are priced from the underlying "cash" instrument Back to Top

{s} lying beneath, forming the foundation of; fundamental, basic; implicit; prior

The underlying features of an object, event, or situation are not obvious, and it may be difficult to discover or reveal them. To stop a problem you have to understand its underlying causes I think that the underlying problem is education, unemployment and bad housing

underlying form

A property of a morpheme; the abstract form that the morpheme is postulated to have before any phonological rules have applied to it

He served in World War II under General Omar Bradley.

to be the ground or support of

under

{e} below, beneath; less than; controlled by; according to; in the process of; during the period of authority of

under

{e} below

under

{a} inferior, lower

under

{a} beneath, below, less

Under

sub

I live within spitting distance of the subway station. - I live within spitting distance of the underground station.

Where's the subway station? - Where's the underground station?

Under

sub-

under

In professional bowling, a score under 200 See also par; over

under

Less specifically, denoting the relation of being subject, of undergoing regard, treatment, or the like; as, a bill under discussion

under

If you study or work under a particular person, that person teaches you or tells you what to do. Kiefer was just one of the artists who had studied under Beuys in the early Sixties I am the new manager and you will be working under me

under

through a range downward; "children six and under will be admitted free"

under

Denoting relation to some thing or person that is superior, weighs upon, oppresses, bows down, governs, directs, influences powerfully, or the like, in a relation of subjection, subordination, obligation, liability, or the like; as, to travel under a heavy load; to live under extreme oppression; to have fortitude under the evils of life; to have patience under pain, or under misfortunes; to behave like a Christian under reproaches and injuries; under the pains and penalties of the law; the condition under which one enters upon an office; under the necessity of obeying the laws; under vows of chastity

under

lower in rank, power, or authority; "an under secretary"

under

In a lower, subject, or subordinate condition; in subjection; used chiefly in a few idiomatic phrases; as, to bring under, to reduce to subjection; to subdue; to keep under, to keep in subjection; to control; to go under, to be unsuccessful; to fail

under

Lower in position, intensity, rank, or degree; subject; subordinate; generally in composition with a noun, and written with or without the hyphen; as, an undercurrent; undertone; underdose; under-garment; underofficer; undersheriff

under

below the horizon; "the sun went under"

under

If you do something under a particular name, you use that name instead of your real name. Were any of your books published under the name Amanda Fairchild? The patient was registered under a false name

under

If you go under something, you move from one side to the other of something that is at a higher level than you. He went under a brick arch A river boat passed under the bridge

located below or beneath something else; "nether garments"; "the under parts of a machine"

under

Something that is under a layer of something, especially clothing, is covered by that layer. I was wearing two sweaters under the green army jacket It was hard to see the colours under the layer of dust

under

To be a subject of

under

further down; "see under for further discussion" down below; "get under quickly!" below the horizon; "the sun went under" below some quantity or limit; "fifty dollars or under" in or into a state of subordination or subjugation; "we must keep our disappointment under" down to defeat, death, or ruin; "their competitors went under" into unconsciousness; "this will put the patient under" through a range downward; "children six and under will be admitted free

under

In a place such as a sea, river, or swimming pool, if someone or something is under the water, they are fully in the water and covered by it. They said he'd been held under the water and drowned Goldfish were swimming lazily in a group just under the surface. Under is also an adverb. When the water was up to his neck, a hand came from behind and pushed his head under

under

If something happens under a particular person or government, it happens when that person or government is in power. There would be no new taxes under his leadership. the realities of life under a brutal dictatorship

under

Below or lower, in place or position, with the idea of being covered; lower than; beneath; opposed to over; as, he stood under a tree; the carriage is under cover; a cellar extends under the whole house

under

In a lower level than

under

into unconsciousness; "this will put the patient under"

under

In a way lower or less than

under

If something happens under particular circumstances or conditions, it happens when those circumstances or conditions exist. His best friend was killed by police under extremely questionable circumstances Under normal conditions, only about 20 to 40 per cent of vitamin E is absorbed

under

(B) to the right of

under

In competitive play, the amount of pins (including bonus, if any) that a player is scoring under a 200 average; a player that shoots 1734 for 9 games is "under" by 66 See also "plus", "minus" and "over"

under

un·der In addition to the uses shown below, under is also used in phrasal verbs such as `go under' and `knuckle under'

under

further down; "see under for further discussion"

under

You use under to say which section of a list, book, or system something is in. This study is described under `General Diseases of the Eye' `Where would it be?' --- `Filed under C, second drawer down.'

under

under wraps: see wrap

under

Denoting relation to something that comprehends or includes, that represents or designates, that furnishes a cover, pretext, pretense, or the like; as, he betrayed him under the guise of friendship; Morpheus is represented under the figure of a boy asleep

under

Denoting relation to something that exceeds in rank or degree, in number, size, weight, age, or the like; in a relation of the less to the greater, of inferiority, or of falling short

under

in or into a state of subordination or subjugation; "we must keep our disappointment under"

under

If something happens under a law, agreement, or system, it happens because that law, agreement, or system says that it should happen. Under law, your employer has the right to hire a temporary worker to replace you Under the Constitution, you cannot be tried twice for the same crime

under

down below; "get under quickly!"

under

If something or someone is under a particular age or amount, they are less than that age or amount. jobs for those under 65 Expenditure this year should be just under 15 billion pounds. over Under is also an adverb. free childminding service for 5's and under

under

below some quantity or limit; "fifty dollars or under"

under

Professional bowling score below 200

under

If a person or thing is under something, they are at a lower level than that thing, and may be covered or hidden by it. swimming in the pool or lying under an umbrella Under a wide shelf that holds coffee jars stands a pile of magazines She buried her head under the covers, pretending to be asleep A path runs under the trees

under

down to defeat, death, or ruin; "their competitors went under"

under

You can use under before a noun to indicate that a person or thing is being affected by something or is going through a particular process. fishermen whose livelihoods are under threat I'm rarely under pressure and my co-workers are always nice to me Firemen said they had the blaze under control He was rushed to court yesterday under armed guard

under

through a range downward; "children six and under will be admitted free

under

anda

underlie

be or form the base for lie underneath

If something underlies a feeling or situation, it is the cause or basis of it. Try to figure out what feeling underlies your anger. see also underlying. to be the cause of something, or be the basic thing from which something develops

underlie