formal derivative


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formal derivative

[‚fȯrm·əl də′riv·əd·iv]
(mathematics)
For a polynomial, an x n + an-1 x n-1t⋯ + a1 x + a0, where the coefficients a0, a1,⋯, an are elements of a ring, the formal derivative is the polynomial nan x n-1+ (n-1) an-1 x n-2t … + a1.
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While ICI supports the current rule plan in part: "that funds should establish formal derivative risk management programs, and we support appropriately tailored asset segregation requirements," Stevens said, "but other portions of the proposed rule would sharply -- and excessively -- restrict funds' use of derivatives."
(4) obtained from the formal derivative of the operator [[DELTA].sub.p].
Under the Proposed Rule, a Fund may invest in a derivatives transaction only if it: complies with one of two alternative portfolio limitations; maintains certain qualifying assets and segregates such assets on its books and records; and depending upon the extent of a Funds derivatives usage, adopts a formal derivatives risk management program.

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