Calculates current full period interest for an ISMA bond (1999 conventions)
Introduced in release: 1.38 Component: Non-US (developed mkts) Purpose:
Calculates the extended amount of interest due, taking into account the quantity, for a ISMAregular bond or odd first coupon bond, odd last coupon bond, and odd first and last coupon bond using 1999 conventions. The interest calculated is for the full period in which the settlement date falls, including settlement within an odd length period.
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.
In this routine the current period always includes the settlement day.
Notes:
This routine is intended for use in calculating future cash flows. If the settlement date is a coupon payment date, the return value is the amount of interest due to be paid on the next coupon payment date. In this particular case the calculation differs from that provided by isma_pip, which calculates the prior period's interest due to be paid on the current coupon/settlement date (the calculated amounts will differ only for odd coupon periods).
Results:
The result is returned scaled by the quantity and 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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