I am pricing derivatives under a $T$-forward measure and as such I need to discount the expected payoff with a bond price. I have available to me overnight-indexed swap (OIS) rates, how do I reconstruct bond prices from this data?

When I have done this before I have had access to LIBOR rates, and I know that since LIBOR is a simple forward rate I can use the following relationship:

\begin{equation} F(t; t, T) = \frac{1}{T-t}\bigg( \frac{1}{P(t, T)} - 1 \bigg) \end{equation}

and solve for $P(t, T)$.

So my question is: can I do the same for OIS rates? Is the rate quoted a simple forward rate?


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