What concept does 'inheritance' refer to in Avaloq ICE?

Inheritance in Avaloq ICE refers to the ability of components to derive properties from other components. This concept is foundational in object-oriented programming, which is a key aspect of Avaloq ICE's design. Inheritance allows for greater reusability and efficiency in coding, as it enables new components to adopt attributes and functionalities from existing elements. This streamlining means developers do not need to duplicate code; instead, they can extend and enhance existing components, leading to a more organized and maintainable codebase.

The focus on this capability underlines the flexibility and scalability of the Avaloq system, allowing for efficient customization and extension. Consequently, it improves development time and reduces possible errors from code duplication. Overall, understanding inheritance is crucial for leveraging the full potential of Avaloq ICE in crafting tailored solutions.