FpML Issues Tracker

903: Business Day Convention – NONE vs ACTUAL

January 9, 2009

Normal

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.

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