“derivative” means an option, swap, futures contract, forward contract or other financial or commodity contract or instrument whose market price, value, delivery obligations, payment obligations or settlement obligations are derived from, referenced to or based on an underlying interest (including a value, price, rate, variable, index, event, probability or thing), but does not include,
(a) a commodity futures contract as defined in subsection 1 (1) of the Commodity Futures Act,
(b) a commodity futures option as defined in subsection 1 (1) of the Commodity Futures Act,
(c) a contract or instrument that, by reason of an order of the Commission under subsection (10), is not a derivative, or
(d) a contract or instrument in a class of contracts or instruments prescribed by the regulations not to be derivatives;