Often for credit instruments and particularly for the segment of variable rate bonds resilient prices for risk assessment and for compliance to the MiFID directive are lacking. A further problem is that the prices for floating rate notes available on the market are generally not resilient market prices. The valuation of floaters is sometimes based on asset swap levels from fixed bonds, which, at least from a finance mathematical standpoint, should be viewed critically. Floating rate notes should not be calculated on interest curves but rather on the basis of the discounted margin. This is especially relevant when taking into consideration that fixed and variable rate bonds have been evaluated differently. The Neutral Pricing System for floating rate notes gives you a current basis since the prices are mainly based on actual trading activities.