The area of application of Indicative Quotes is the use of Indicative Quotes to determine the fair value of bonds and Eurobonds. The fair value of a security is the price that would be received when selling the asset in a transaction conducted in an organized market between well-informed and independent market participants voluntarily at the valuation date under current market conditions.
Fair value estimates of debt securities are used in the accounting and investment policies of various financial institutions and institutional investors, including banks, management and insurance companies, pension funds, and others; to determine the price to revalue the portfolios of market participants and their clients; to verify the reliability of financial statements and assess the market nature of transactions. The fair value assessment is carried out under the procedure defined by the International Financial Reporting Standard (IFRS) 13 "Fair Value Measurement".