## Forward Price

Subtype of Job RequestThe forward price

**of the referenced tradable observed at the given spot date (denoted as**

*F***) wrt a maturity equal to the given horizon date**

*0***specified in Horizon Date**

*T*It is also part of the PnL Explain table PnLExplain Table that is produced in association with the key PnL Explain when a tradable is priced with the Advanced Pricing model input.

By default, the spot date equals the globally set trade date ( i.e. valuation date) that usually equals today's date.

But if the As Of entry to the function Price exists, the latter date is then regarded as the spot date.

It is represented by the time

**in the documentation context of Advanced Pricing**

*0*Precisely,

**represents an amount payable at**

*F***and defined as the amount one agrees at**

*T***to pay at the maturity date**

*0***in order to acquire the tradable at**

*T*

*T*It turns out, it equals the sum of the present values as of

**of the tradable's cash flows**

*T***occurring after**

*CFᵢ*

*T*Formally:

*F = (1/P)Σ(CFᵢPᵢ)*where:

**are all forecasted cash flows occurring at times**

*CFᵢ***such as**

*Tᵢ***, as implied by the market information available at**

*Tᵢ > T*

*0***are the respective discount factors, i.e. the discount factors seen at**

*Pᵢ***with maturities**

*0*

*Tᵢ***is the funding discount factor seen at**

*P***with maturity**

*0***, as implied by the curve associated with the issuer supplied in Fund Crv Issuer**

*T*In words, all cash flows

**are discounted down to**

*CFᵢ***and then their sum**

*0***is compounded forward to**

*Σ(CFᵢPᵢ)***using the discount factor**

*T*

*P*One may also define an equivalent forward amount that is assumed to be payable at

**and be equal to the product**

*0*

*F*P = Σ(CFᵢPᵢ)*Apart from an exception mentioned below, all floating rates are assumed equal to their forecast forward values observed at

*0*The cash flows occurring on the horizon date are included only if Trade Date CFs is set to

*TRUE*If the threshold date

**for assumed known fixings is specified in Fxd Resets Before, all floating rate fixings before**

*Tᵣ***are not implied by the provided curves but rather read from a supplied object of type Historical Values**

*Tᵣ*