For example, “volatility swaps” pay in proportion to the sum of the squares of the price changes of whatever underlier over, say, 30 days the square root of that, actually.    From Wordnik.com.  [The Volokh Conspiracy » Derivatives Clearinghouses and Exchanges] Reference

For example, “volatility swaps” pay in proportion to the sum of the squares of the price changes of whatever underlier over, say, 30 days (the square root of that, actually).    From Wordnik.com.  [The Volokh Conspiracy » Derivatives Clearinghouses and Exchanges] Reference

A futures contract facilitates the purchase or sale of an underlier at a predetermined price for delivery at a future date.    From Wordnik.com.  [The Economic Times] Reference

"underlier" instead of grain.    From Wordnik.com.  [rediff.com] Reference