Derivative Definition

Derivative

In the financial context: an instrument whose value is based on the value of an underlying security, such as a commodity, currency, or bond. The most common derivatives are futures, options, and swaps. They are used to manage risk and fluctuations in the value of the underlying security but are often risky and complicated investments.

In the immigration law context: a close family member who is allowed to accompany a primary visa holder to the United States.