Spread Betting Glossary: U

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Underlying asset
The asset, commodity or security on which a trade or instrument is based.
Underlying instrument
The contract or notional asset which underpins a given trade, for example a futures contract in spread betting.
Universal Stock Futures
A futures contract relative to a given underlying asset.
Up bet
Synonymous with going long, an up bet is a positive position opened in anticipation of a positive market.