Before revision:  Inspired by the empirical findings, we introduce a new class of continuous-time stochastic volatility models, capable of decoupling roughness ( fine properties ) from long memory and persistence (long-term behavior) in a simple and parsimonious way, which allows us to successfully model volatility at all intraday time scales.
After revision:  Inspired by the empirical findings, we introduce a new class of continuous-time stochastic volatility models, capable of decoupling roughness ( short-term behavior ) from long memory and persistence (long-term behavior) in a simple and parsimonious way, which allows us to successfully model volatility at all intraday time scales.