UNDERLYING Definition

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UNDERLYING is the security, cash commodity, forward, futures contract, swap, or other contract or instrument that is the subject of a derivative contract or instrument.

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HOLDING COMPANY is a company which owns or controls other companies. (Control can occur through the ownership of 50 per cent or more of the voting rights or through the exercise of a dominant influence.).

SEVERANCE TAX is levied on production of natural resources taken from land or water bottoms within the territorial boundaries of a state.

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