其次，市场模型是直接建立在可观测的市场利率之上的，省去了由瞬时短期利率或瞬时远期利率得到市场利率的过程。
Second , the market model is directly based on observable market interest rates above , eliminating the process of transforming short-term interest rate or instantaneous forward rate to the market interest rate .
瞬时远期利率