Formal definitions

These definitions are given for a market. A market is a pool of policies that pay the same premium rate. The term “action” designates any action undertaken on the market : a policyholder brings a new policy, or a guarantee fund provider brings/withdraws liquidity. At any action, the variable contribution rate is updated on the market.

VARIABLE	DESCRIPTION
	Current number of seconds
	Time at which the action i is executed
	Time of the last update of the market data.
	Amount of liquidity provided by guarantee fund provider a.
	Total amount of liquidity available on the market.
	Total capital of the policies brought by user b.
	Total capital amount of policies available on the market
	Utilisation ratio of the guarantee funds available.
	Capital of policyholder b guaranteed depending on the utilisation rate. If there is more policy capital than liquidity, only a percentage of the policy capital will be guaranteed.
	Premium rate paid by the policyholders to the guarantee fund providers. For any
	Time between timestamps :
	Income earned by guarantee fund provider a between two actions on the market.
	Premium paid by policyholder b between two actions on the market.