4 ms·
OP is missing “common enterprise” part of definition, which covers commodities. Security futures are securities (jointly managed by SEC and CFTC), commodity fut
by ivalm 3y ago
OP is missing “common enterprise” part of definition, which covers commodities. Security futures are securities (jointly managed by SEC and CFTC), commodity futures are not (as they are a derivative on a non-security). The main inconsistency is that bank loans are not securities.
- freeone3000 3y agoBank loan derivatives and packaged loan products are, however. It is simple debt sales that are not, which is reasonable.
- ivalm 3y agoIs a business loan syndicated to 50 institutional investors that different from a bond offering?