commodity

(1) (except for (2) ) a physical asset (other than a financial instrument or cash) which is capable of delivery.
(2) ( for the purposes of COBS 22.5 ) any of the following (but excluding gold):
1. (a) a commodity within the meaning of paragraph (1); and
2. (b) any:
  1. (i) physical or energy product; or
  2. (ii) of the items referred to in paragraph 10 of Part 1 of Schedule 2 to the Regulated Activities Order as an underlying with respect to the derivatives mentioned in that paragraph;
  which is, or can be, traded on a secondary market.
(3) (in relation to the UK provisions which implemented or correspond to MiFID or MiFIR including MAR 10) 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 electricity.