underlying asset

Este contenido está disponible en los siguientes idiomas: Español | Inglés

This is an asset that trades on the open markets and serves as a support or reference to make exchanges on the option, future, swap or other derivative markets.

An underlying asset is the source from which the value of a derivative financial instrument is created. For example, the value of an option to buy a Repsol-YPF stock for 19 euro; (the strike price) will depend on, among other things, the price of the underlying asset (in this case the market price of the stock). Underlying assets can be different in nature depending on the characteristics and needs of the buyers or sellers of the derivatives.

There are typically two types:

- Financial underlying assets: interest rates, currencies, stock indexes (fixed or variable) or marketable securities.

- Non-financial underlying assets: natural resources (called commodities), athletes (when betting on or investing in sports teams, for example).