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commodity

      1. (1)5052(except for (2)211) 52 a physical asset (other than a financial instrument or cash) which is capable of delivery.48
      1. (2)50 (for the purpose of calculating position risk requirements) any of the following (but excluding gold):48
        1. (a) a commodity within the meaning of paragraph (1); and48
        1. (b) any:48
          1. (i) physical or energy product; or48
          1. (ii) of the items referred to in paragraph 10 of Section C of Annex I of211 MIFID as an underlying with respect to the derivatives mentioned in that paragraph;48
          which is, or can be, traded on a secondary market.48
      1. (3) (in relation to MiFID or MiFIR)211 any goods of a fungible nature that are capable of being delivered, including metals and their ores and alloys, agricultural products, and energy such as electricity211.52

    [Note: article 2(6) of the MiFID Org Regulation211]