Component 
Resolution  Bond Pricing 




Function Definition 
oMMdisc_Yield(Price, YieldType, SettlementDate, MaturityDate, Principal, AccrualConvention, OutputFlag) Returns the instrument's fair value, dollar discount, days to maturity, as well as the risk statistics. 




Bond Types 
Discount money market instruments. 




Function Parameters 



Parameters 
Description 

Parameter Type 

Restrictions 

. 

Price 

Price per one hundred (PPH) of the instrument. 

Double 

Price >= 0 

YieldType 

Flags whether a yield or a discount rate is used when pricing the instrument. 

Enumerated Constant 

1 = Yield 

SettlementDate 

Valuation date of the instrument. 

Date 

SetDate < MatDate 

MaturityDate 

Maturity date of the instrument. 

Date 

MatDate > SetDate 

Principal 

Redemption value for the instrument paid at maturity. 

Double 

Principal >= 0 

AccrualBasis 

Day basis for determining accrued interest and length of discounting period. 

Enumerated Constant 

1  Act/360 

OutputFlag 

Flags the output to be returned from the function. Entering a 0 will output: The YieldType Parameter (Yield or Discount Rate), Dollar Discount, Days to Maturity, Macaulay Duration, Modified Duration, Convexity, and Price Value of a Basis Point. Entering a 4 will output: Macaulay Duration, Modified Duration, Convexity, and Price Value of a Basis Point. 

Enumerated Constant 

0  All seven outputs 








See Also Money Market Function Parameters oMMcpn_Yield( )  Coupon Bearing MM Instrument Yield Function 
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