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The [[underlying asset]], or [[underlyer]], or [[underlier]], or [[reference asset]] — call it what you will — is that thing of which your [[derivative]] ''is'' derivative.
{{g}}The [[underlying asset]], or [[underlyer]], or [[underlier]], or [[reference asset]] — call it what you will — is that thing of which your [[derivative]] ''is'' derivative.
Not to be confused with the [[undying]], of course, and certainly not after sun-down.
Not to be confused with the [[undying]], of course, and certainly not after sun-down.


{{c|Bluffer’s Guide}}
We naughty old contrarian types like to use “{{eqderivprov|underlier}}” as shorthand in the {{eqderivdefs}} even though it isn’t, as such, a thing.
{{sa}}
*[[Nosferatu]]
*[[Underlier - Equity Derivatives Provision]]

Latest revision as of 19:43, 30 December 2020

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The underlying asset, or underlyer, or underlier, or reference asset — call it what you will — is that thing of which your derivative is derivative. Not to be confused with the undying, of course, and certainly not after sun-down.

We naughty old contrarian types like to use “underlier” as shorthand in the 2002 ISDA Equity Derivatives Definitions even though it isn’t, as such, a thing.

See also