Re: [Quantlib-dev] callable bonds

[Luigi B. <lui...@gm...>]

Hi Allen,
	apologies for the delay. I hope I'm not discouraging you or others from
participating to the project...


On Sat, 2007-07-14 at 02:54 -0400, Allen Kuo wrote:
> Hi: I built a CallableFixedRateBond and would eventually like to make
> a contribution to QuantLib. Was wondering if we can we take
> callability to be a *feature* of a FixedRateBond, rather than
> developing a new class CallableFixedRateBond (construction of a
> FixedRateBond without the engine would resort to the original
> discounted cashflow NPV calculation).

As a gut feeling, I'd keep it a separate class. 


>   If the notion of a Quantlib::FixedRateBond can be expanded to
> include embedded optionality, class names also become shorter (they
> are getting long…..), e.g. TreeFixedRateBondEngine versus
> TreeCallableFixedRateBondEngine.

True, but I would also keep the vanilla bonds simple---new users have
enough difficulties already... also, I'm thinking of the possibility of
having callable zero-coupon or floating-rate bonds too. Keeping it
separate might help abstracting out the code for callability, so that
part of it might be reused between such bonds.

Later,
	Luigi


-- 

The most exciting phrase to hear in science, the one that heralds new 
discoveries, is not "Eureka!" but "That's funny..." 
-- Isaac Asimov