Part V
Systems Implementation and Testing
Chapters 27 and 28 discuss the implementation of a credit derivatives system. Much of what is covered here is relevant to other systems and is written in as general a form as possible. On the other hand, some aspects are less relevant for some applications - for example, the implementation of market-accepted models for single name CDS valuation required less emphasis on the testing of the mathematical model than a model developed for a bespoke securitisation.