(US) a generator or small power producer that meets certain ownership, operating, and efficiency criteria established by the Federal Energy Regulatory Commission (Ferc) and that has filed with Ferc for QF status or has self-certified. QFs are physical generating facilities.

   a quantitative analyst who applies mathematical and statistical techniques.

   a notion from probability. Generally, the specific value of a variable that divides the distribution into two parts, those values greater than the quantile value and those values that are less. For instance, p percent of the values are less than the pth quantile.

   an asset or liability denominated in a currency other than that in which it is usually traded. Since the combined exposure to the asset and to the foreign exchange rate will change continuously, the structures must be dynamically hedged. see also delta hedging, guaranteed exchange rate option, integrated hedge

   of the three quartiles, the first or lower quartile of a list is a number (not necessarily a number in the list) such that at least one-quarter of the numbers in the list are no larger than it, and at least three-quarters of the numbers in the list are no smaller than it. The second quartile is the median. The third or upper quartile is a number such that at least three-quarters of the entries in the list are no larger than it, and at least one-quarter of the numbers in the list are no smaller than it.