FpML Issues Tracker

903: Business Day Convention – NONE vs ACTUAL

January 9, 2009

closed

Minor

Always

Coordination

Admin

mgratacos

Summary

The Business Day Convention uses the term "NONE". I suggest in the next change when we can make a non-backwards compatible change that it is changed to "ACTUAL".

IMHO The term "ACTUAL" has better support in the industry for date rolling conventions.

This also avoids confusion with the other enumeration value of no convention of "NotApplicable".

The date will not be adjusted if it falls on a day that is not a business day.

Notes:

  • mgratacos

    01/28/09 7:50 am

    2009-01-26: The Coordination Committee agreed that this is not an issue. The value Actual is used only in day count fractions but not in business day conventions.

    • Leave an update

    You must be logged in to post an update.

    Report an Issue

    The FpML Issues Tracker is designed to facilitate public interaction in the standard.

    By registering you will be able to submit corrections and comments, generate reports, and view the complete issues archive for FpML.

    Report Issue