Market idiosyncrasies

Some market idiosyncrasies such as settlement conventions are an important part of a valuation model but irrelevant to a risk model. 

An alternative but less accurate approach would be to build a unique set of EMU interest rate factors and capture each legacy market idiosyncrasies with a spread factor. 

During these past few decades, the bicycle itself has vastly improved. The bicycles of the early 1970s usually had mechanical idiosyncrasies. Competition among manufacturers, led by the Japanese companies that entered the U.S. market, resulted in vastly improved quality control. The mountain bike, first made available on a widespread basis m 1983, offered a delightful alternative that mushroomed in popularity, and a decade later, traditional road bicycles had all but disappeared from stores. The mountain bike has become most people s vehicle of choice for city riding as well as recreational trail riding. 

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