# Change of Numéraire

*Quant & Pricing — Finicade finance glossary*

Choosing what to measure prices in — cash, a bond, a stock — to make a hard pricing problem simple. Pick the right yardstick and awkward expectations turn into clean ones.

**Also known as:** num-raire-change, money-market-num-raire, t-forward-measure

**Related terms:** [Girsanov's Theorem](https://finicade.com/glossary/girsanov-theorem), [Risk-Neutral Pricing](https://finicade.com/glossary/risk-neutral-pricing), [Martingale](https://finicade.com/glossary/martingale)

**Taught in:** Quant Quest — Risk-Neutral Pricing

Source: https://finicade.com/glossary/change-of-numeraire