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isma_99_exai

isma_99_exai (routine)

Calculates accrued interest for an ISMA bond - cum or ex dividend using 1999 conventions

Introduced in release: 1.38
Component: Non-US (developed mkts)
Purpose: Calculates the accrued interest, with the option of considering an ex-dividend date, for an ISMA regular bond, odd first coupon bond, odd last coupon bond, and odd first and last coupon bond using 1999 conventions.

Special Considerations: This function has as one of its parameters isma_convention_flag, a flag which specifies the convention to use in performing the calculation. The flag allows for auto determination or specification of the convention. Please review the documentation of isma_convention_flag for details.

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.

Supercedes: isma_ex_ai
Last Mod Date: 10/28/1998© 2001 TIPS, Inc.Doc Version: 5.0