meetingnotes2013-12-15.txt

		 An Algebra for Multiparty Contracts

			      2013-12-05

			by Martin Elsman, DIKU
		 with Patrick Bahr and Jost Berthold

                            Presentation


-----

*Goals





*A Contract Language

  e ::= i | e1 + e2 | e1 * e2 | min(e1,e2) | e1 < e2

  c ::= zero
      | transl(i,c)
      | scale(e,c)
      | iff(e,c1,c2)
      | both(e1,e2)
      | transfOne(cur,p1,p2)
      | within(e,i,c1,c2)

* Examples of contracts

 - fx-swap

 - vanilla call option
 
 - Example portfolio

* Formal treatment (semantics)

 - Semantics

 - Algebraic properties

 - Causality

 - Proofs in coq

* Contract utilities

  - Finding cash flows
 
  - Eliminating transfers to and from a particular party

  - Merging parties

  - Applying fixings

  - Advancing a contract in time

* Other Combinators

  - monitors (Asian options)
  - choice ()
  - american optionality