Vol Time DC

Key Vol Time DC in Model[Simulation] refers to the daycount convention used to calculate the time length associated with the increase in variance of the monte carlo simulated quantities.
Expects an object of type DayCount
For example, the mathematical expressions σ²t and -⅛σ²t that give the increase in variance and the drift convexity adjustment over a time interval (T₁,T₂) from a date T₁ to a date ₂ of lentgh (in annual units) t and a constant vol σ, rely on this daycount convention in order to calculate t out of T₁ and ₂

Note:
Any daycount conventions defined in Vol Curve objects are ignored and effectively superceded by the entry here.
This is done because Monte Carlo simulation requires a unified treatment of time that applies to all simulated variables, regardless of how the vol of each variable is defined.
Since a non Monte Carlo pricing of the structured product may rely on the daycount conventions of the individual vols, a price discrepancy between Monte Carlo and non Monte Carlo methods may be observed if these conventions do not equal the one defined here.