Calculates accrued interest for a bond - cum or ex dividend
Introduced in release: 1.0 Component: Restricted Purpose:
Calculates the accrued interest, with the option of considering an ex-dividend date, for a regular bond or odd first coupon bond.
Special Considerations:
If the security contains an odd last coupon use the mtrm_ex_ai routine instead of this routine.
Alternatives:
If price and/or yield are required in addition to accrued interest, use the isma_py_ol routine instead of this routine.
Notes:
The ex-dividend status can be determined using either the trade or settlement date. When the bond is trading ex-dividend the accrued interest will be negative. In addition to accrued interest, other values are returned by the routine - see outputs in Parameter Definition section.
Results:
All results are calculated using industry standard rules. The routine returns the accrued interest per 100 of maturity value accurate to as many places as supported by a double precision value.
Error Conditions:
Returned values should be ignored for a non-zero status. See Errors.
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