asset_class

An asset class is a group of instruments which have similar financial characteristics and behave similarly in the marketplace. We can often break these instruments into those having to do with real assets and those having to do with financial assets. Often, assets within the same asset class are subject to the same laws and regulations; however, this is not always true. For instance, futures on an asset are often considered part of the same asset class as the underlying instrument but are subject to different regulations than the underlying instrument.

Primary asset classes are Foreign Exchange, Interest Rates, Credit, Equities, Commodities and Other

├── fx
├── ir
│   └── inflation
├── cr
│   ├── cr_index
│   └── cr_single
├── eq
│   ├── eq_index
│   └── eq_single
├── co
│   ├── metals
│   │    └── precious metals
│   │         ├── gold
│   │         ├── silver
│   │         ├── platinum
│   │         └── palladium
│   ├── energy
│   │    ├── oil
│   │    ├── gas
│   │    ├── coal
│   │    └── electricity
│   └── agri
│   │    ├── sugar
│   │    ├── coffee
│   │    └── corn
│   └── co_other
└── other

fx

Derivatives whose underlying risk is the exchange rate between currencies, such as currency forwards, swaps and options. See the BIS OTC derivatives asset classes.

ir

Derivatives linked to interest rates or interest-bearing instruments, such as interest rate swaps, forward rate agreements and interest rate options. See the BIS OTC derivatives asset classes.

inflation

Derivatives with payments linked to changes in a price index or inflation rate. FIRE groups these under ir. The ECB explanation of inflation-linked swaps describes exchanging fixed payments for inflation-linked payments.

cr

Derivatives transferring credit risk relating to a reference entity or group of entities, such as credit default swaps. See the BIS OTC derivatives asset classes.

cr_index

Credit derivatives referencing an index of multiple reference entities, rather than one entity. See the BIS definitions of credit derivatives.

cr_single

Credit derivatives referencing a single entity, such as a single-name credit default swap. See the BIS definitions of credit derivatives.

eq

Derivatives linked to equity prices or returns, including individual shares and equity indices. See the BIS OTC derivatives asset classes.

eq_index

Equity derivatives referencing a share-price index. See the BIS definitions of equity derivatives.

eq_single

Equity derivatives referencing the shares of a single issuer. See the BIS definitions of equity derivatives.

co

Derivatives linked to commodity prices or indices. FIRE subdivides this category into metals, energy, agricultural and other commodities. The commodity names below are described in Regulation (EU) 2017/585, Annex, Table 2.

metals

Commodity derivatives referencing metals, including base and precious metals.

precious_metals

Commodity derivatives referencing precious metals.

gold

Commodity derivatives referencing gold.

silver

Commodity derivatives referencing silver.

platinum

Commodity derivatives referencing platinum.

palladium

Commodity derivatives referencing palladium.

energy

Commodity derivatives referencing energy commodities.

oil

Commodity derivatives referencing oil.

gas

Commodity derivatives referencing natural gas.

coal

Commodity derivatives referencing coal.

electricity

Commodity derivatives referencing electricity.

agri

Commodity derivatives referencing agricultural commodities.

sugar

Commodity derivatives referencing sugar.

coffee

Commodity derivatives referencing coffee.

corn

Commodity derivatives referencing corn (maize).

co_other

Commodity derivatives whose underlying commodity does not fall within the metals, energy or agricultural categories in this hierarchy.

other

Derivatives whose underlying asset class does not fall within the foreign exchange, interest rate, credit, equity or commodity categories above.