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The following table defines each of the parameters used in the various money market functions.
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Parameter |
Definition |
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Accrual Basis |
The basis for determining accrued interest and the length of the discounting period. All money market instruments adopt an "actual" days in period convention, however the assumed number of days in a year can be either 360, 365, or actual. |
Coupon Rate |
Coupon rate of the instrument. Not applicable for discount money market instruments. |
Dated Date |
Date on which the instrument begins to accrue interest. Not applicable for discount money market instruments. |
Maturity Date |
Maturity date of the instrument. |
Output Flag |
Determines which output(s) the function is to return. |
Price |
Price per one hundred (PPH) of the instrument. If instrument pays a coupon, then this parameter is the clean price. |
Principal |
Redemption value of the instrument, paid at maturity. |
Settlement Date |
Valuation date of the instrument. |
Yield |
Redemption yield for the instrument. |
Yield Type |
Determines whether a yield or a discount rate is used when pricing the instrument. |
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