Deterministic

A value which can be assessed without any hand-waving appeals to the referee, common-sense, crying out loud, or five leading dealers in the market for the relevant financial instrument.

An a solution that any old chump, given instructions in sensible English, could arrive at without the need for another fellow’s opinion.

Now you might think the negotiation of standard form trading agreements is the sort of thing that one might, by now, have reduced to a set of simple deterministic rules that even a pocket calculator could follow, but you would be wrong. Just try following the definition of Valuation Date in a CSA if you don’t believe me.

See also

• Algorithm
• AI

I’m sorry I asked