Financial instruments refer to any form of security or contract that can be traded on financial markets, representing a claim against an issuer. These may include stocks, bonds, options, futures, and other types of securities such as mutual funds, exchange-traded funds (ETFs), and unit investment trusts (UITs). Financial instruments can also refer to derivatives or contracts that derive their value from an underlying asset, index, or reference rate. These may include forwards, swaps, options, and other complex financial products. In essence, any document representing a right to ownership, share, or trade in an organization is considered as a financial instrument.