<t>2// A LMM, along a path, i generate the CMS with the forward libor, and i price the call on a spread CMS with Montecarlo.How can I calibrate my instantaneous correlation of forward libor to obtain the same prices???? my instantaneous correlation in my LMM is given by Rebonato approx : cor(i,j) = ...

Hi dhillybabu, may I ask u how do u treat correlation in HW?Anyway, daily checking of optionalities is always time consuming...