Which of the following is not a derivative?

A) equity contracts
B) futures contracts
C) option contracts
D) swap contracts

Derivative

A derivative is a financial security with a value that is reliant upon or derived from, an underlying asset or group of assets—such as stocks, bonds, commodities, currencies, interest rates, or market indexes.

Equity Contracts

Agreements that represent ownership interest in a corporation, potentially including options, warrants, and other financial instruments.

Futures Contracts

Agreements to buy or sell an asset at a future date at a price agreed upon today, often used for hedging or speculating on price movements.