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.
===[[Debt Capital Markets]]===
*[[Medium Term Note]] Programmes
*Stand Alone [[Eurobond]] Issuance
*[[Commercial Paper]]
**[[Euro Commercial Paper Programmes]]
**[[Asset-backed]] [[Commercial Paper]]
====Supporting Documentation====
*Legal Documents
**Constituting Instruments
**Agency Agreements
**Terms and Conditions
**Offfering Materials
*Board Authorisation
*Side Letters, Agent Appointments and Dealer Confirmations
====Hedging====
*Term Funding
*Basis Risk
====Offering and Resale====
*US registration and Safe Harbors
*retail investor products
===[[Structured Securities]]===
*Structured [[Medium Term Note]]s
*Repackagings and Securitisation
===[[Exchange Traded Securities]]===
*[[Exchange-Traded Funds]] (ETFs)
*[[Exchange-Traded Notes]] (ETNs)
==[[Over-The-Counter]] Transactions==
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]].
====Financial====
*[[Commodity Derivatives]]
*[[Futures]]
*Commdity Indices
*Exchange Traded Commodity Products
**[[Exchange-Traded Notes]]
**[[Exchange-Traded Funds]]
====Physical====
==Warning: boring stuff below this line==
=====Oil and Refined Products=====
Where do you start?
=====Freight=====
:{{derivativecontractdefinition}}
=====Energy=====
*Coal
*Power
*Gas
*Carbon/Emissions
=====Metals=====
*Base Metals
*Precious Metals
=====Agrigultural Commodities=====
====Commodities Documentation====
*[[ISDA Commodities Definitions]]
*[[EFET]] - European Federation of Energy Traders Master Agreements (Power and Gas)
*[[IETA]] - International Emissions Trading Agreement
*[[SCOTA]] - Standard Coal Trading Agreement
===[[Prime Brokerage]]===
:[[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 [[MiFID]] as follows:
(in scope?)
==By Asset Class==
*[[Equity Derivatives]]
*[[Credit Derivatives]]
*[[Currency Derivatives]]
*[[Interest Rate Derivatives]]
*[[Commodity Derivatives]]
==By Risk==
===Market Risk===
====Market Disruption====
====Gap Risk====
===Credit Risk===
==Regulatory Environment==
Implications for derivatives and capital markets transactions of regulatory initiatives. ''This should cross reference where appropriate the Financial Services Module''
(4) options, futures, swaps, forwards and any other derivative contracts relating to securities, currencies, interest rates or yields, emission allowances or other derivatives instruments, financial indices or financial measures which may be settled physically or in cash;
(5) options, futures, swaps, forwards and any other derivative contracts relating to commodities that must be settled in cash or may be settled in cash at the option of one of the parties other than by reason of default or other termination event;
(10) options, futures, swaps, forwards and any other derivative contracts relating to climatic variables, freight rates or inflation rates or other official economic statistics that must be settled in cash or may be settled in cash at the option of one of the parties other than by reason of default or other termination event, as well as any other derivative contracts relating to assets, rights, obligations, indices and measures not otherwise mentioned in this Section, which have the characteristics of other derivative financial instruments, having regard to whether, inter alia, they are traded on a regulated market, OTF, or an MTF;
(11) Emission allowances consisting of any units recognised for compliance with the requirements of Directive 2003/87/EC (Emissions Trading Scheme).
Derivative /dɪˈrɪvətɪv/ (n.)
A financial instrument, feared in Nebraska as some kind of 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 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.
MiFID definition of derivative comes from the latter half (items (4) - (10)) of the definition of “Financial Instruments” set out in Section C of Annex I to MiFID as follows:
