Under the Securities Regulation Code (Republic Act No. 8799), SECURITIES are shares, participation or interests in a corporation or in a commercial enterprise or profit-making venture and evidenced by a certificate, contract, instruments, whether written or electronic in character. It includes:

(a) Shares of stocks, bonds, debentures, notes evidences of indebtedness, asset-backed securities; 

(b) Investment contracts, certificates of interest or participation in a profit sharing agreement, certifies of deposit for a future subscription; 

(c) Fractional undivided interests in oil, gas or other mineral rights; 

(d) Derivatives like option and warrants; 

(e) Certificates of assignments, certificates of participation, trust certificates, voting trust certificates or similar instruments 

(f) Proprietary or nonproprietary membership certificates in corporations; and 

(g) Other instruments as may in the future be determined by the Securities and Exchange Commission (SEC).