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{{def|Derivative|/dɪˈrɪvətɪv/|n|{{subtable|{{financial instruments}}}}}}
A [[financial instrument]], feared in Nebraska as some kind of [[Financial weapons of mass destruction|WMD]], in the cradle of the Levant as a sort of Godless gambling contract, amongst commodity producers of the Midwest (other than that one fellow in Omaha) as a legitimate [[hedging]] activity, and for legions of patient [[negotiator|negotiators]] in London, New York, Hong Kong and the thriving satellite constellation of low-cost jurisdictions from Bangalore to Nashville, a steady, dreary, unglamorous means of keeping home fires stoked and food upon the table.

Could be a [[swap]]<ref>Also, fondly, known as a [[sw-ŏp]], but ''never'' a [[sw-æp]]. [[Swap does not rhyme with crap|Swaps aren’t, and don’t rhyme with, crap]].</ref>, an [[option]] or a [[future]].

Not, and especially not now, in light of the fabulous parallel regulation of the [[Securities Financing Transactions Regulation]], a [[stock loan]] or a [[repo]].

==Warning: boring stuff below this line==
Where do you start?
:{{derivativecontractdefinition}}

:{{tag|MiFID}} definition of [[derivative]] comes from the latter half (items (4) - (10)) of the definition of “[[Financial instrument - FCA Rulebook Term|Financial Instruments]]” set out in Section C of Annex I to {{tag|MiFID}} as follows:


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*[[FWMD Top Trumps]]

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