Derivative

{
  "id": "MLC-T-LAW-001583",
  "term": "Derivative",
  "field": "Law",
  "definition": "A financial contract whose value is derived from an underlying asset, index, or rate, such as stocks, bonds, commodities, or currencies. These instruments are used for hedging risk or for speculative purposes, allowing parties to trade on future price movements without owning the underlying asset. Common types include futures, options, and swaps.",
  "url": "https://mlchart.com/terminology/law/derivative/"
}