Conformal field theory
The Hilbert space of physical states is a unitary module of the Virasoro algebra corresponding to a fixed value of "c". Stability requires that the energy spectrum of the Hamiltonian be nonnegative. The modules of interest are the highest weight modules of the Virasoro algebra.
Observable
If the Hilbert space is finite-dimension, it can be represented by a Hermitian matrix if the space is finite-dimensional. In an infinite-dimensional Hilbert space, the observable is represented by a symmetric operator, which may not be defined everywhere. The reason for such a change is that in an infinite-dimensional Hilbert space, the observable operator can become unbounded, which means that it no longer has a largest eigenvalue. This is not the case in a finite-dimensional Hilbert space: an operator can have no more eigenvalues than the dimension of the state it acts upon, and by the well-ordering property, any finite set of real numbers has a largest element. For example, the position of a point particle moving along a line can take any real number as its value, and the set of real numbers is uncountably infinite. Since the eigenvalue of an observable represents a possible physical quantity that its corresponding dynamical variable can take, we must conclude that there is no largest eigenvalue for the position observable in this uncountably infinite-dimensional Hilbert space. 
A crucial difference between classical quantities and quantum mechanical observables is that the latter may not be simultaneously measurable, a property referred to as complementarity. This is mathematically expressed by non-commutativity of the corresponding operators, to the effect that the commutator