) says it has the approval of the Securities and Exchange Commission for seven derivative contracts, a path to its launch of the first exchange-traded derivatives in West Africa.
Basically financial securities whose value is derived from an underlying asset or group of assets serving as a benchmark, derivatives are a contract between two or more parties, and their prices are determined by fluctuations in the underlying assets. Underlying assets for derivatives include currencies, bonds, commodities, stocks, market indexes and interest rates.
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