Financil Contracts (FCs) specify rights and obligations that parties are legally
bind.Hence effective management of FCs is vital.Domain Specific Language (DSL)
approach provides a method of defining rights and obligations of contracts using fixed
and precisely defined set of combinators and observables.As a result, any contract can
be composed using fixed set of symbols, the contract management becomes efficient and effective.The Haskell Contract Combinator Library (HCCL) is the driving forcebehind the DSL approach in finance sector
2. Domain Specific Language to Define Operations for
Central Counterparty
▷Domain – Financial Market
▷Central Counterparty (CCP) – Financial Institute
Financial Market Specific Language to CCP
18. Operations of CCP
▷Margin Calculation
Purpose : No Counterparty Default Occur
At the End of Each Business Day
.
▷Possibilities
Dr. Trader Account
Cr. Trader Account
Restate to Initial Margin
CCP
19. Rule 9102 – Long Option Position
Margin Requirement
.
Methodology
the period to expiry is greater or equal to 9
months, 50% of the option’s time value, else
100% of the option’s time value
Future Cash Flow
.
23. Summary
IntroductionResearch Literature
DSL for Finance Sector Has been a Major Requirement Since Early Days
Payton, Eber, Julian HCCL
Mediratta Complex Derivatives
Gaillourdet Software Language Approach
Bahr, Jost, Elsman Symbolic Management of Finance
Contracts & Symbolic Management of
Multiparty Contracts
CCP Operations Have Not Yet Addressed using DSL Approach
48. Environment
▷Facts About Observables and Choices – Symbolic Management of Derivatives
- External to the FC/FD
- Direct impact on the FC/FD
IntroductionResearch Literature
49. Rule Equivalence(via Contract Equivalence)
▷Contract Equivalence
Same Environments
Two Different Contracts
Contracts Are Identical In That Environment
Evaluation And Analysis
Patrick Bhar
51. Rules Transformation (via Contract Transformation)
▷Contract Transformation
Specialization Function “f”
Partial Evaluation Of Contract “C” f(C,ρ)
New Environment - ρʹ
Same Cash Flows
Evaluation And Analysis
Patrick Bhar
52. ▷Rules (Seed Contract) Transformation
Specialization Function “f”
Partial Evaluation Of Contract “Cseed” f(Cseed,ρ)
New Environment - ρʹ
Same Cash Flows
Evaluation And Analysis
57. Data Types: Trade
Evaluation And Analysis
▷Purpose – Isolating Operations That Can Perform On Data Types
▷Decouple Each Level Of Contract Management Via New Data Types
▷Only Core Operations
61. Conclusion
▷ Proved Hypothesis – Haskell Contract Combinator Library CCP Rules
▷DSL approach “Margin Calculation”
lucrative
Easy (fixed set of combinators and observables)
▷Symbolic Management
Rule Equivalence
Rule Transformation
Rule Decomposition
(Rule Monotonicity)
▷Base research for CCP
Conclusion And Future Work
62. Future Work
▷Put Option Only (Other Contract types)
▷Novation – Only one side analyzed
- Two Option Positions
- Long Option Position
- Short Option Position ???
- Netting and Position Calculation (new observables ?)
▷One Rule – Rule 9102
▷Type Conversion
▷Margin Calculation Engine
IntroductionConclusion And Future Work
Mediratta
CS+Finance+Maths
UI
Skilled People
65. Rule Monotonicity (via Contract Monotonicity)
▷Contract Monotonicity
Two Different Environments
Partially Agree
Given Contract Yield Same Cash Flow
Evaluation And Analysis
Patrick Bhar
66. ▷Rule Monotonicity
- Two Different Environments
- Partially Agree
- Given Rules Yield Same Cash Flow
- GIVEN NOVATED CONTRACT
Evaluation And Analysis
68. Peyton Jones, Marc-Eber, Julian (2000)
▷Fixed, Precisely Specified Set of Combinators
▷Describe a Contract
▷Process a Contract
▷Find Value of a Contract
▷Compositional Nature
Contract Primitives + Observable Primitives
IntroductionResearch Literature
69. Market Observables
Evaluation And Analysis
▷Addition
▷Division
▷Minimum
Gaillardet Observable Values Must Be:
- Boolean
- Real Number
- Integer
▷Options Time Value
▷In The Money Value
▷Margin Required
▷Intrinsic Value
71. Complex Derivatives
▷Mediratta – Credit Default Swap & Power Reverse Dual Currency Swap
▷Valuation – evalC :: Model Contract
- evalO :: Model Contract
More Complex Derivatives Can Compose Using Fixed Set of
Combinators & Observables While
Preserving Uniqueness of the Contract
IntroductionResearch Literature
73. Software Language Approach
▷Peyton – Justify that FP Approach Can Use to Define and Value Derivatives
- Lacking Highlighting SE Language Concepts
- No Unified Approach
▷Gaillourdet – HCCL in a SW Language Point of View
- Provided a Formal Definition for the Language (Syntax)
Syntax of Observables
Syntax of Contract
- Denotational Semantics
Observables
Contracts
IntroductionResearch Literature
74. Option Time Value
▷Time Value = Option Price – Intrinsic Value
▷Intrinsic Value – Price at which the Commodity is being traded at considered
date. Observable Obs Double
▷In the Money -> Strike Price Vs Spot Rate
IntroductionResearch Literature
75. After Novation
▷Buyer And Seller Treat Separately
▷Margin Calculation Is IMPORTANT
▷Constructing Core Level Contracts (
▷Partial Contract Implementation
▷Construction of Rule Using HCCL
▷Finalizing Seed Contract
▷Generate All Possible Results
Progress
Work In Progress
76. Operations of CCP
▷Get Instrument From Trade
▷Get Option Premium From Trade
▷Analyze Instrument
Instrument Name
Equity
Maturity
Number Of Shares Traded
Amount Agree To Pay
Currency
▷Analyze Option Premium
77. Stakeholder Interests vs Economic Stability
▷History
Enron
2007 2008 Crisis
Greek Crisis
▷Minimize Risk– Effective Derivative Management
▷Computer Science
Big Data
Data Mining
Real Time Analytics
Neural Networks ++
Financial Markets
80. Effective Derivative Mgt(Cntd.)
▷Minimize Risk
▷Types of Risk
Operational, Legal
Business, Financial
▷Computer Science
Big Data
Data Mining
Real Time Analytics
Neural Networks ++
Financial Markets
81. ZCB(Contd.)
“Pay € 100 on Future Date t2”
C5 = give (scale 200 (truncate t2 (one EUR)))
IntroductionQ&A
Currency - €/EUR
Date - t2
Action - “Pay”
Amount - £200
and :: Contract -> Contract -> Contract
C4 = get (scale 200 (truncate t2 (one GBP)))
C5 = give (scale 100 (truncate t2 (one EUR)))
C6 = and C4 C5
82. Composing European Option
C 7 = European (date “02 Sep 2015”)
( zcb (date “09 Nov 2016”) 0.4 GBP `and`
zcb (date “12 Oct 2016”) 8.4 USD `and`
zcb (date “18 Nov 2016”) 0.4 GBP `and`
give (zcb (date “09 Nov 2016”) 0.4 GBP)
C8 = European Option = C7 `or` zero
IntroductionQ&A
European :: Date -> Contract -> Contract
83. Peyton Jones (Cntd)
▷Value Process – a Partial Function of Time
How Much this Contract Worth
Incorporate Environment Conditions
Generating Information from Defined Contract
▷Abstract Evaluation – How to Translate Arbitrary Contract into a Value Process
- Semantics for Contract Primitives
- Semantics for Observables
▷Concrete Implementation – Implementation of Abstract Semantics
- Model
IntroductionResearch Literature
89. Software Language Approach (Cntd.)
▷Observable Value – Boolean | Real | Integer
▷Time – Natural Number
▷Constant K – Boolean | Real | Integer
▷Unknown Observables – “S”
▷Binary Operators & Comparison Operators – Two Arguments of Same Type
- Binary – Returns Same Type
- Comparison – Returns Boolean
▷Unary – One Argument and Return Same Type
▷Type Casting – (C2D o | D2C o)
IntroductionResearch Literature
90. Software Language Approach (Cntd.)
▷Denotational Semantics – Map Each of Programs to Mathematical Object
- Denotation for Observables
- Denotation for Contracts
▷Denotation for Observables – (S N V) ( N V )
▷Denotation for Contracts – (S N V) ( N D )
▷“e” – Environment
IntroductionResearch Literature
91. Symbolic Contract Management
▷Symbolic Contract Management – Why symbolic – Ease of Expressing
- Denotational Semantics Information
- Expression (Set of Symbols)
- Monotonicity (Europe vs Asia)
▷Contract Management and Analysis
- Contract Equivalence
- Inferring Contract Properties
- Contract Dependence (Observables Affect on Cash Flows)
- Contract Causality (Future Observable)
- Contract Horizon (Life Time)
▷Contract Transformation – Specialization & Reduction
IntroductionResearch Literature
95. (Obs Double) to Double
▷Contracts (Double)
Amount Paid
# of Shares Traded ++
▷Extracted Values + Computations (Obs Double)
Time Value
Intrinsic Value ++
eg: The Lesser of Normal Margin And In The Money Value
Methodology
96. (Obs Double) to Double (Cntd.)
▷Double (Obs Double)
konst
▷(Obs Double) (Double)
Our Own Function
Methodology
97. (Obs Double) to Double (Cntd.)
Methodology
A : Show a => a -> String (String representation of the value)
B : matchRegex (Regex String Maybe[String])
"[-+]?([0-9]*.[0-9]+|[0-9]+)“
C : fromJust :: Maybe a -> a
D : Operator (!!)
E : read a :: Double
Hinweis der Redaktion
Expectations vs Stability
Stakeholders may make higher profits
Financial Contract / Financial Derivative
Enron -> Falsify their profits, illegal documentation
2007 -> Legal loopholes, power centralization with limited player
Greek Monetary and Fiscal policies adhere to EU regulations Solite
Rules and Regulations
Why Environment is uncertain,
Satisfy conditions to become eligible
Effective derivative contract mgt: Meet stakeholder expectations
Let’s look at the corporate sector financial markets
This is an example of a future date proime that is legally binded.
Up to this point, (4)
we have seen
How FM evolved
What kind of Derivatives are trading
Stakeholder Groups and Interests
Risk High Economic Segment
Contract Mgt is Important
Computer Science is Promising
DSL for Finance Sector
Unified Mechanism for Defining Contracts
DSL to Embed Properties of Contracts
Benefits
Simple Valuation … Complex Back-End Operation Management
We ‘ve seen DSL is favorable approach to adapt.
HCCL facilitates -> DSL approach to FC , to deine Contracts and define Operations of FC
Library Offers -> fixed
Define Observables, Scaling
Observable -> Time varying quantity,
value is objective
Explain that we can use these to define contrac
Two edges of the sails are stitched to the radial lines and the other two edges are free. The edge facing the parachute skirt is called the leading edge and the edge facing the vent is called the trailing edge.
The Combinators Can Glue together
Pay -> Cash outflow
One Single Line we can define a contract
Last section ,
Trader A sees growth in DELL share in the time to come.
So thought of bying DELL shares at
There Trader B in the market who is willing to sell DELL share to the price Trader A willing to purchase
Decides today , to buy X amount of DELL shares at Future Date t, for a Specific price Per share
At future date t, A wishes to exercise contract, but B says no, or vice versa,
Counter party risk
Trader A and Trader B goes to reliable trusted party Contract Counter Party.
What CCP does, initial contract make it two (Contract Novation)
For a trade - CCP buyer and Seller at same time.
One con
CCP is a highly regulated institutes
Traders needed to satisfy certain criteria to become members of CCP
Derivatives are subjected to Rules Rule Books
Margin Calculation
Derivative has a life period of n time.
At the end of each business day Margin Calculated according to rules specified.
Margin -> How to make sure that counterparty default does not occur, incorporate uncertainty.
Explain Possibilities
Explain Long Option Position
Margin Requirement is a cash flowThe Rule, by itself reflects a future cash flow
And there by Operations of CCP
Specify Operations of a CCP Using a Domain Specific Language approach
Most important reseach related to my research will be highlighted
CCP Operations are Summation of all these Respective Research Areas
Target -> Checks applicability
Input what are the necessary inputs (expiry, current date)
Logic Hypothisis – rule implementation using payton jones
Research Hypothesis
================
Rule is a finance Contract -> Daily margin calculation
Up to this point, (4)
we have seen
How FM evolved
What kind of Derivatives are trading
Stakeholder Groups and Interests
Risk High Economic Segment
Contract Mgt is Important
Computer Science is Promising
The example contract that we choose in our research is this. The contract is , selling 100 dell shares, for 4800 GBP at future date 240
When analyzing the above contract, we can clearly see to major parts.
major parts: buy and sell + do nothing
(mee slide eke kiyanna, methane contract 2k tiyanawa kiyala)
Building block of the previously defined contracts
Futher, we can see, there are two contracts in the this contract as well, selling 100 Del and reciving money
Option Contract , clearly see the two options
Describing the rights and obligations of contracts evertime when needed, is a tedious task (repeating number of shares, amount to be paid, share type). Complex ones may be even more harder.
So, via a name it’s easy to introduce a contract Instruments
Easy way of introducing to the market.
In Haskell we can define data type as follows: Data type name | Data tye constructor
From this way we add the defined contract to a new context called, Instrument. The defined contract is introduced to the market in the form of an instrument.
Market players knows the inherent properties of this instrument, the commodity, number of shares traded.
At this point we created our Instrument.
Market participant would willing to pay for the instrument
Cash flow –
Now, we have an instrument in the market , also a buyer who is willing to pay option premium to purchase the instrument.
Option Writer (Seller) – Introduce Instrument to Market
Buyer – Pay the Premium And Purchase The Option
Buyer Is The OWNER Of Instrument
=========================
Here we are dealing with two data types, Instrument and Option Premium , to represent this trade we create another data type called trade.
This trade is brings to CCP
To represent this trade, we created a new data type called Trade
Trade data type takes, has the value constructor Trade, that takes two input arguments, The first argument is of data type Instrument.
The option premium paid 200 GBP and Instrument ABC is wrapped in this data type Trade.
LET’S LOOk at the rights and obligations specified in this trade.
The owner of this ABC instrument has following rights and obligations. Since he purchased the instrument by paying option premium.
Owner has the right of selling, 100 Dell and receive 4800 GBP from option writer.
===========================
But default risk is there, CCP undertake this risk by novating the above contract and acting as the middle party.
Now the both buyer and seller deals with , CCP.
Here CCP act as the seller to original buyer and buyer to original seller.
At this time CCP regulations open a state called Long Position to Buyer and state call Short position to Seller. That is the legal requirement.
Now buyer and seller treat sepeartely.
How we did in our research.
We create the data type trade to incorporate the scenario of , purchasing instrument by paying Option Premium.
Our research we use HCCL and Haskell to their optimum level. We use Haskell pattern matching technique to extract the needed results.
For example, to obtain the instrument from trade, we defind function as follows,
Similarly to obtain option premium, we defined function getInstrumentPremiumFromTrade function.
Accordig to the pattern specified in the function, it retrieves Instrument, this function contract
In design phase we identified, it is needed to identify inputs for the rule from the original contract/trade. This analysis is carried our for that.
Similarly defining set of functions and following Haskell pattern matching technique, we extracted following from both Instrument and Option Premium.
For example, the underlying equity, Del, maturity date, 240 ,
With in bracket I specify the , data type of the corresponding values.
Th
Option time value compute from the amount spent for Option Premium. When economic conditions get vary, this amout we pay for the premium is also get vary. Hence it is also an observable
We define rule9102One to determine the cash flow semantic with respect to
Th
Using combinators, scale, one, and, truncate we prove the amount of adjustment.
Furter in our way, we used Haskell library inbuilt function in performing compuations
And there by Operations of CCP
Specify Operations of a CCP Using a Domain Specific Language approach
Up to this point, (4)
we have seen
How FM evolved
What kind of Derivatives are trading
Stakeholder Groups and Interests
Risk High Economic Segment
Contract Mgt is Important
Computer Science is Promising
CCP is a highly regulated institutes
Traders needed to satisfy certain criteria to become members of CCP
Derivatives are subjected to Rules Rule Books
Margin Calculation
Derivative has a life period of n time.
At the end of each business day Margin Calculated according to rules specified.
Margin -> How to make sure that counterparty default does not occur, incorporate uncertainty.
Explain Possibilities
CCP is a highly regulated institutes
Traders needed to satisfy certain criteria to become members of CCP
Derivatives are subjected to Rules Rule Books
Margin Calculation
Derivative has a life period of n time.
At the end of each business day Margin Calculated according to rules specified.
Margin -> How to make sure that counterparty default does not occur, incorporate uncertainty.
Explain Possibilities
CCP is a highly regulated institutes
Traders needed to satisfy certain criteria to become members of CCP
Derivatives are subjected to Rules Rule Books
Margin Calculation
Derivative has a life period of n time.
At the end of each business day Margin Calculated according to rules specified.
Margin -> How to make sure that counterparty default does not occur, incorporate uncertainty.
Explain Possibilities
CCP is a highly regulated institutes
Traders needed to satisfy certain criteria to become members of CCP
Derivatives are subjected to Rules Rule Books
Margin Calculation
Derivative has a life period of n time.
At the end of each business day Margin Calculated according to rules specified.
Margin -> How to make sure that counterparty default does not occur, incorporate uncertainty.
Explain Possibilities
CCP is a highly regulated institutes
Traders needed to satisfy certain criteria to become members of CCP
Derivatives are subjected to Rules Rule Books
Margin Calculation
Derivative has a life period of n time.
At the end of each business day Margin Calculated according to rules specified.
Margin -> How to make sure that counterparty default does not occur, incorporate uncertainty.
Explain Possibilities
To make instrument, while preserving contract properties
Market players knows the rights and obligations of the underlying contract of the instrument.
Complex Contracts – Hard to Illustrate
Name Of The Instrument Rights & Obligations of Contract
Identical Names – Similar Instruments && Similar Contracts
Similar Contracts Can HaveDifferent Instrument Names
To make instrument, while preserving contract properties
Market players knows the rights and obligations of the underlying contract of the instrument.
To make instrument, while preserving contract properties
Market players knows the rights and obligations of the underlying contract of the instrument.
To make instrument, while preserving contract properties
Market players knows the rights and obligations of the underlying contract of the instrument.
HCCL driven DSL architecture for CCP
Up to this point, (4)
we have seen
How FM evolved
What kind of Derivatives are trading
Stakeholder Groups and Interests
Risk High Economic Segment
Contract Mgt is Important
Computer Science is Promising
Absence of a DSL – Separate mechanisms are there to represent each contract
Drawback -> When a new Derivative comes to the market, it’s again need to create new mechanism to represent it.
Suppose 3 management mechanisms such as valuation, deduction et. , for each combination of activities, separate programs needs to write
With DSL
One Unified mechanism to Define All Derivatives. What ever the derivative, it will be constructed , utilizing the mechanism,
The processing activities will also based on same mechanism
Total Number of Programs can be reduced Effective Contract Management
New contract/processing arrive, same mechanism will be used to to define and process contract
Large Number of Contracts / Derivatives
How are we going to define them,
Each Derivative Different Definition
How to preserve the properties of each derivative, incorporate complexity, uncertainity
Eventhough successfully defined, the processing/managemt becomes even cumbersome task
DSL for Finance Sector
To eliminate ambiguities and complexities of defining contracts Unified mechanism suggest
CCP is a highly regulated institutes
Traders needed to satisfy certain criteria to become members of CCP
Derivatives are subjected to Rules Rule Books
Margin Calculation
Derivative has a life period of n time.
At the end of each business day Margin Calculated according to rules specified.
Margin -> How to make sure that counterparty default does not occur, incorporate uncertainty.
Explain Possibilities
Properties of contracts of contracts
Let’s look at the corporate sector financial markets
Define Observables, Scaling
Observable -> Time varyig quantity,
value is objective
To make instrument, while preserving contract properties
Market players knows the rights and obligations of the underlying contract of the instrument.
Define Observables, Scaling
Observable -> Time varyig quantity,
value is objective
Justifies the applicability of HCCL for complex derivatives.
There will be more derivatives, more complex,
Identify the cash flow semantics -> precisely define the cash flows, , so it can use to
We define rule9102One to determine the cash flow semantic with respect to
Peyton -> Sense of implementation flavor.
- Lacking will lead to divese set of approaches, Different researcher can come up with their own approach, not unified, not suitable in the long term,
Gaillourdet -> SW point -> to make it a uniform process
Syntax – arrangement of words so that they make meaningful sentences.
Peyton -> Sense of implementation flavor.
- Lacking will lead to divese set of approaches, Different researcher can come up with their own approach, not unified, not suitable in the long term,
Gaillourdet -> SW point -> to make it a uniform process
Syntax – arrangement of words so that they make meaningful sentences.
Design – seed, contract reduction specialization support
Contract equivalances
Infor more contracts
Symbolic management
Matter of jst simulating the environment
This trade is brings to CCP
To represent this trade, we created a new data type called Trade
Expectations vs Stability
Stakeholders may make higher profits
Financial Contract / Financial Derivative
Enron -> Falsify their profits, illegal documentation
2007 -> Legal loopholes, power centralization with limited player
Greek Monetary and Fiscal policies adhere to EU regulations Solite
Rules and Regulations
Why Environment is uncertain,
Satisfy conditions to become eligible
Effective derivative contract mgt: Meet stakeholder expectations
Buyer and Seller
A place where parties with different interest meet with each other. (Not the conventional buyer and seller)
Happens through brokerage firms, a legal corporation that undertakes interest of others
Give an example (one party wishes to sell crude oid, other party wishes to buy crude oil in exchange for Gold)
Financial Contract / Financial Derivative
Contract Legal Obligations where parties are bind to satisfy at future date
Types: explain each of these type (each type has their own deliverables, responsibilities obligations)
CDS -> The two derivatives given are highly traded derivatives. (more derivatives will evolve, meet demands why there will be more devatives uncertainity in the economy
Rules and Regulations
Why Environment is uncertain,
Satisfy conditions to become eligible
Effective derivative contract mgt: Meet stakeholder expectations
Expectations vs Stability
Stakeholders may make higher profits
Financial Contract / Financial Derivative
Enron -> Falsify their profits, illegal documentation
2007 -> Legal loopholes, power centralization with limited player
Greek Monetary and Fiscal policies adhere to EU regulations Solite
Rules and Regulations
Why Environment is uncertain,
Satisfy conditions to become eligible
Effective derivative contract mgt: Meet stakeholder expectations
Minimize Risk
100% is extremely unlikely, minimize to maximum scale
Types of Risks
Operational ->
Legal ->
Business ->
Financial ->
Computer Science
Big Data Concepts High Volumes, Wide Variety, Rapid Velocity (3Vs)
Data Mining -> Customer Churn Analysis, Storck Market Predictions
Real Time Analytics -> Fraud Detection, Bankruptcy predictions
Nueral Networks -> So call AI applications in Stock Markets ()
CS is a dominant pillar
Pay -> Cash outflow
One Single Line we can define a contract
This European contract represent,
3 receipts and one payment, hodler can decide at date 2 Sep 2015, whether to receive it or not.
Value Process -> Partial Function of Time
Abstract -> Use contract primitives and observables to define contract. What are the semantic given to these value process. There n
Concrete Implementation – Model, model incorporate the time factor, (model models an observable)
Model -> Forex Mode, Interest Rate Model
Entire Value Process in a nutshell
Here two main important point,
What are evaluation semantics
Model
Model – models an observable that is an external to the contract over time.
Model – y model is lattice ?, each node, a value in time,
each step -> a point in time
construction is solely depend on valuers intension, Compare the two
Denotation is equivalent to Value Process in Peyton Jones Research,
This research -> discussed in views of SE Language approach
Model value process mathematically
Denotation Observables – Value of unknown Observable -> to its time values
Example – Int rate fluctuations over time model in mathematically
Unknown observable – S – Int rate
Time – N (natural number
V - Set of values
Trhough a model, set of values at each time step.
Denotation of Contracts -> Contract – series of cash flows
Through a model , contract values at each time point. (Domain D of the Denotation of Contracts)
The information generated from Denotational Semantics will be used for symbolic contract mgt.
Contract Mgt:
Equivalence – 2 different contracts, semantics are total – same cash flows
Inferring Properties – Deduce properties from denotational semantics
Transformation: - Transform to much smaller contracts
At denotation – Different contracts at different time periods management more easy (simpler contracts)
Specialization -> As time progress -> more info about environment -> more accurate -> replace environment -> better management
C contract specialized to f(c,rho) -> but will give same cash flows as C, we can replace C with F(c,rho) because more infor better management
Reduction – Advance contract by one period -> the total contract semantics = semantics of C at period 1 + semantics of contract C’ over (n-1) time
We scale values of type “Double”
Computations : lift lift2
Type Double is wrapped in a context
To take value Double out form this context there was no function I the library.
Convert the data type (Observable Double) --> Data type Double
Goal utilize exiting Haskell functions and operations to their optimum level.
C: removes the Maybe wrapper
Purpose:: HCCL doesn’t have this option. This is an approach that we propose through our research. To apply lib to CCP operations