QuantML annotations have a compositional semantics, in the sense that the interpretation of an annotation structure is obtained by combining the interpretations of its entity structures and participation link structures, in a manner that is determined by its scope link structures. The recursive interpretationfunction IQ implemets this semantics. The recursion of IQ comes to a halt at the minimal components of the annotation structures of the abstract syntax, i.e., at the elemnts of the conceptual inventory.