referring again to fig1 step 120 comprises the specification of the exercise boundary of the cpmp in quantitative finance the term exercise boundary refers to the set of conditions under which an option may be exercisable for example a european option is exercisable only upon a predetermined fixed date u2014 the expiration or maturity date of the option an american option by contrast is exercisable at any time up to the expiration date still other types of options such as bermudan options may be exercisable at specific dates prior to the expiration date of the option expiration dates may be stochastic as well in that they depend upon the value of some random variable in the future for example an option on the s amp p500 may become exercisable if the value of the s amp p500 index attains a certain value in a preferred embodiment the cpmp may be exercisable only upon the death of the purchaser of the cpmp for example say the purchaser of the cpmp is a high net worth individual who is a 65 year old male in addition assume that for example the cpmp gives the right for this individual to sell 15 000 000 of the s amp p500 index to the seller of the cpmp upon the death of the purchaser the 65 year old male if the value of the s amp p500 index at the time of the individual 39 s death is only 10.