/**
* Copyright (C) 2013 - present by OpenGamma Inc. and the OpenGamma group of companies
*
* Please see distribution for license.
*/
package com.opengamma.analytics.financial.credit.isdastandardmodel;
/**
* Par spread is the old (i.e. pre-April 2009) way of quoting CDSs. A CDS would be constructed to have an initial
* fair value of zero; the par-spread is the value of the coupon (premium) on the premium leg that makes this so. <br>
* A zero hazard curve (or equivalent, e.g. the survival probability curve) can be implied from a set of par spread quotes
* (on the same name at different maturities) by finding the curve that gives all the CDSs a PV of zero (the curve is not
* unique and will depend on other modeling choices).
*/
public class ParSpread implements CDSQuoteConvention {
private final double _parSpread;
public ParSpread(final double parSpread) {
_parSpread = parSpread;
}
@Override
public double getCoupon() {
return _parSpread;
}
}