Average


Quotable is an
abstract direct subtype of Type
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with functions Quotable Functions, direct subtypes Quotable subtypes and keys Quotable keys

TYPE INCLUSION RELATIONSHIPS

Type

Quotable

Average

Constant

Cor

Dividend

Event

Event Prob

Extremum

Futures

Fwd Inflation Index

Fwd Price

Inflation Index

Interest Rate

Prices Def

Quotable Group

Quotable Path

Raw Inflation Index

Spot Price

Stock Prices Def

Vol

</defs>

AVAILABLE FUNCTIONS

Get Market Spot Value

Value

</defs>

AVAILABLE CREATE FUNCTION KEYS

ID

</defs>

This type represents the parent
Deriscope Type of any Deriscope Object that describes a financial variable.
Any Quotable can be in principle evaluated at any time provided sufficient market and model information is available.
All Quotable objects contain the function
Value.
Inversely if a type contains the function Value then it must be a subtype of Quotable.
Examples of quotables (i.e. types deriving from Quotable) are:
Stock Price, Ibor Rate, Discount Factor Group etc.
Note that just as a
Tradable is "pricable" but itself does not contain the associated "price", similarly a Quotable is "valuable" but itself does not contain the associated "value". The "value" is calculated at run time by means of the function Value.
For example a
Ibor Rate object does not contain the actual "rate value" (e.g. 4%).
It only contains the structural definitions such as Maturity, Frequency, Currency, Daycounts etc.
The "value" (i.e. the associated deposit rate number) can be calculated at run time, if sufficient interest rate market data and modeling assumptions are provided.
Interestingly the "value" that can be assigned to a particular Quotable may not be just a single number.
A Quotable such as Ibor Rate expects a single number (such as .04) as "value".
On the other hand the Quotable type Discount Factor Group expects a whole curve (which is mathematically equivalent to an infinite dimensional vector) as associated "value".
Often when the observation date lies in the future, the associated "value" is a whole probability distribution (referred as
Probability Measure in Deriscope).